Ocwen Asset Inv. Co (OAC) Message Board

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Strategies & Market Trends : Ocwen Asset Inv. Co (OAC)

OAC 15.43

-5.8%

Jan 21 4:00 PM EST

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To: leigh aulper who wrote (20)	2/18/1998 7:41:00 PM
From: CygnusX3	Read Replies (1) of 64

<<No cash was exchanged, I believe these guys swapped and equal amount of paper that they owned in OCWEN financial.>> You appear to be misinterpreting the following portion of the press release: "In connection with this stock issuance, a subsidiary of Ocwen Financial Corporation exchanged a like number of shares of OAIC Common Stock for a like number of Limited Partnership Units in OAIC's operating partnership in order to comply with the stock ownership restrictions imposed on real estate investment trusts under the Internal Revenue Code." While I don't understand why a swap was required, this refers to a subsidiary of Ocwen Financial swapping stock for units. It does not say that the insiders swapped anything for their common stock. It does seem to indicate that ownership by the insiders does affect what Ocwen Financial can own.

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