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Technology Stocks : Vitesse Semiconductor
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From: sixty2nds8/22/2006 7:50:16 AM
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06:05 VTSS Vitesse Semiconductor says debenture declared due - AP (0.92 )

AP reports Vitesse Semiconductor (VTSS) said Monday that a trustee of its 1.5% convertible subordinated debentures due in 2024 declared the $96.7 mln principal amount, plus interest, immediately due and payable. Vitesse said in a filing with the SEC that it is involved in a dispute with the trustee, saying it believes it has no compliance deficiencies under the indenture and that the trustee's attempt to declare the debentures immediately due is invalid. Vitesse said it was negotiating with the holders of a majority of the debentures to give it two weeks to try to resolve the dispute.
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