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Technology Stocks : Alphanet Telecom, WOW !
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To: Martin Archer who wrote (49)11/13/1997 9:45:00 PM
From: wynn quon   of 117
 
You wrote:

"The insider sale of shares could be linked to the Indosat Pt deal. There was something about them buying 1.75 million shares from Alphanet. Does anyone know if this explains it?"

I checked back on the PT Indosat deal, and maybe it is just
coincidence but here is the text of the news release:

"The debenture has a 5-year term and bears interest at the Bank of Canada prime lending rate as adjusted annually. It is convertible into two million common shares of AlphaNet (at CDN $17.50 per share) at any time during the 5-year term at the option of the holder. Mandatory conversion at the same conversion price will occur at any time after the first 18 months following the date of issue under certain predetermined market and operating conditions, or at maturity. In a separate transaction with AlphaNet Technology Corporation, the private holding company of AlphaNet's founders, PT Indosat is acquiring 1,750,000 common shares of AlphaNet Telecom Inc."

Looks like those 1,750,000 shares were indeed sold for $9. This price
was not mentioned in the news release. Guess that would not have
looked very good. The price that people remember ($17.50) is the price of conversion for the debenture.

DISCLAIMER: I'm short selling Alphanet. This may bias me somewhat
so don't take my word for anything I say. Feel free to check the facts in case I've missed something.
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