Valu-Net Corp (VNE on ASE - was Faymar) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Valu-Net Corp (VNE on ASE - was Faymar)

VNE 36.95

0.0%

Apr 1 5:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Nabil Karam who wrote (201)	3/20/1998 1:31:00 PM
From: Postman	Read Replies (2) of 974

Hello Nabil- This increase in shares happened when the two companies joined together, (Valu-net was vended into Faymar Capitol (FAY).) This is a common procedure, more shares are issued by one company in exchange for a percentage of the company being vended in. It was no secret that this was going to happen, that was the terms of the deal, and had to be approved by the ASE which is a tough exchange on which to get approval these days. The ASE will only allow a certain number of shares to be freely traded over 3 years when a jcp (junior capitol pool) like Faymar vends in another company. I think it is 33% the first year, 33% the 2nd year and 33% the third year. Not exactly sure of the percentages. The company continues to state there are only 4.9 million shares free trading at the moment. Hope this answers your question.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next