Grand Union (GUCO) Message Board

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Non-Tech : Grand Union (GUCO)

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To: JOHN A. who wrote (23)	8/6/1998 8:52:00 AM
From: makin_dough99	Read Replies (1) of 42

To: +Big Dog (30155 ) From: +Yo Yo Wednesday, Aug 5 1998 2:29PM ET Reply # of 30186 Buying GUCO = Even More Stupid Now! That is certain! Trying to bail out of your position, Dog? For those of you who refuse to (or just plain can't) read financial documents, here is an excerpt from the terms of the bankruptcy. ------------------------------------------------------------- The Plan of Reorganization further provides that (i) the Company's Senior Notes will be cancelled and exchanged for all of the reorganized Company's common stock; (ii)the Company's existing common stock will be cancelled and exchanged for five-year warrants to purchase approximately 1.5% of the new common stock at an exercise price of $19.82 per share; ------------------------------------------------------------- So basically by owning this stock, (1) you were not allowed to vote on the bankruptcy. (2) you no longer own this company, the lenders do. (3) for every share you had, you now a own warrent to get 0.015 shares of the reorganized company at a price of $19.82 per share. How foolish do you get? Yo Yo

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