Befriend the Trend Trading Message Board

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Strategies & Market Trends : Befriend the Trend Trading

SPY 683.00

+0.2%

Nov 11 4:00 PM EST

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To: Dr. Stoxx who wrote (39268)	10/3/2007 6:20:15 PM
From: RumbleFish	Read Replies (1) of 39683

Generally having convertible preferred outstanding can be a drag on a stock. Without more details this sounds like positive news. HOUSTON, Oct. 3 /PRNewswire-FirstCall/ -- ICO, Inc. (Nasdaq: ICOC - News), global producer of custom polymer powders and plastic film concentrates, today announced that it will redeem all outstanding shares of its $6.75 Convertible Exchangeable Preferred Stock (the "Preferred Stock") at the close of business on November 5, 2007 (the "Redemption Date"). The Preferred Stock is represented by depositary certificates ("Depositary Shares," each representing 1/4 of a share of Preferred Stock) which are traded on The NASDAQ Global Market under the trading symbol ICOCZ. The Redemption Price for each Depositary Share is $25 (representing $100 per Preferred Share), plus all accrued and unpaid dividends as of the Redemption Date. There are currently 170,204 Depositary Shares outstanding.

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