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Technology Stocks : ICOM: Investment Discussion
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To: daniel hayes who wrote (146)4/16/1998 7:35:00 PM
From: jjs64  Read Replies (1) of 494
 
Dan;

The S3 in this case is a shelf statement. A shelf statement is a registration of shares for sale, but the shares do not have to be sold at any particular time. The registration is put "on a shelf" and the company (or in this case the selling shareholders) can sell when they want to. When they do sell, ie "shares held after the offering" they will hold zero stock. One reason they may want to hold on rather than sell is to achieve long-term status, and thus lower taxes. One reason they might want the shelf statement is so that they can show these shares as "publically traded" as opposed to "private securites" on their balance sheets. I remember there was a Morgan Grenfell (I think) fund that got in trouble a while back for having too many "privates" on their books.

Alot of companies file shelf statements to sell their own stock, especially if they are acquisitive. For example, a company like Allied Waste, which acquires landfills, usually has a shelf statement filed and on hand so they can issue shares to buy somebody's landfill if they want to. Hope this helps!

Do you know the name of the Uk subsidiary they own? I believe it is the one that makes the SonetLynx product. I'd make a guess it would be easier for you to research this division than it would be for us in the US.

best regards;
Joe
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