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Technology Stocks : Nam Tai Elec. (NTAI)
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To: mod who wrote (1405)5/5/1998 5:43:00 PM
From: kolo55  Read Replies (1) of 1696
 
I can't believe this is legal.

I agree that it appears that the company used our monies to bid up the price of NTAIF shares, and then purchase Mr. Koo's block of shares at 16 7/8. He's done it again; screwed us over to line his own pockets. There is no way that a conscientious financially competant third party would have paid Koo that much. For most of the last four months, the company did not purchase shares on the open market, even though the price was considerably lower. Instead, they bought out the Chairman's shares at about a 10% premium.

As for the earnings report, the sales were down big time sequentially. Operational earnings were 30 cents a share. I hope we get a rebound in sales in the next quarter.

Paul
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