I Agree concerning the takeover of Providnet Investment by United
Asset Management and later the Apparent retirement of Robert
Kommerstad from the business.
A review of the SEC filings available on Edgar indicate the following
ownership positions:
Provident Investment 1,666,735 6.45%
Shlomo Margalit 1,833,930 7.1%
Ray Noy Zeev 1,744,811 6.7%
lotan Noam 868,437 3.4%
Mellon Bank 1,055,000 4.08%
Additionally, ValueLine reports that 1.9MM shares, or 7.3% are owned
by funds with the largerst being INVESCO @ 225,000.
As far as INTC is concerned, if the exercised all warrants they would
still only have 2.7% of the stock, hence they would not have to
report. INTC may have gotten an increased allotment of warrants due
to the secondary stock offering completed in the fall. However, I
would still assume that they would not trigger the reporting even if
they did.
The annual report should provide insight as to whether INTC has
exercised any of their warrants. Although it will be stale
information at that point.
I have only recently started to follow this stock; hence I don't have
the background of others writing on this thread. I purchase a small
interest at 22.875 on New Year's Eve. My thought are that the stock
will regain its secondary offering price of 35.75 once the market
dispells the Asian influence. While I anticipate this to be in the
fall of '98, I can afford to wait. IMO it's better to be in sooner
than later. |
