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Gold/Mining/Energy : VENTRA GROUP (tse:VTA)
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To: Daniel who wrote (8)6/8/1998 9:24:00 AM
From: Letmebe Frank  Read Replies (1) of 47
 
The short position of Ventra common shares has risen to 1,400,000 plus shares as of May 31, 1998. A covenant for the 8 1/4% convertible debentures is a conversion, at the discretion of the Company, to common shares at $3.26 per share providing the closing price for the shares is at $4.09 or better for 20 consecutive trading days. It has been difficult to achieve the parameters of this covenant. It appears that the holder of these debentures is not satisfied with 8 1/4% and the conversion privilege: - as well, the holder is enjoying an opportunity to sell short and/or flooding the asking price of the stock to suppress the price below $4.09 per share. Any corrections or opinions to this analysis would be appreciated.
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