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Technology Stocks : Ascend Communications (ASND)
ASND 208.59+4.1%3:59 PM EST
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To: Sowbug who wrote (49190)6/26/1998 12:02:00 AM
From: pat mudge  Read Replies (1) of 61433
 
Sowbug --

What day does the contest end?

As for the new contest, I'll give a prize of 255 shares in the National Grid Group, listed on the London Exchange. It's all that remains of my 300 shares in London Electricity I purchased when it went public in 1991 --- for the grand sum of 1.90 p each (570 pounds or around $1000 US at the time). In 1995 London Electricity was sold out and I was paid 1,830 pounds sterling from LE --- 3X my original investment --- and received 255 shares in the National Grid Group, besides. I have absolutely no idea what they're worth as I haven't checked the price in probably 5 years.

The most interesting part of the holding is the fact NGG owns Energis, the business telecommunications arm that operates on fiber optic cables run along the old grid lines. BBC's one of their primary customers. They also just gave NN a multi-year contract for $200M U.S.

Considering that all of us in Ascend (and Newbridge Networks, in my case) are firm believers in the success of data/telecom convergence, the prize seems appropriate. Of course, I'll be entering and doing my best to win. :))

I have the stock certificate and will sign it over to the winner.

Incidentally, it throws off dividends of around 30 pounds per year.

Now, let's see some serious stock picks.

Cheers!

Pat

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