SYQUEST Message Board - Msg: 5661369

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Technology Stocks : SYQUEST

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To: Dale Stempson who wrote (7096)	9/3/1998 9:16:00 AM
From: Michael Coley	Read Replies (2) of 7685

RE: Additional Dilution? Dale, >> Perhaps someone out there can answer a question for me - What is required of SyQuest in this situation where the (exercised and converted) total exceeds the maximum 240 million shares the company is authorized to issue? Is there a time frame in which they have to obtain shareholder approval for another increase? << I haven't researched this, but I think this has something to do with the special one-time $9 million charge that they had last quarter. I seem to recall some of the preferred share agreements involved cash payments if they would have resulted in someone owning more than 5% of the stock. If this is the case, I believe they are trying to renegotiate and find some other way out of the clause. Like I said, I haven't had time to research this, but that's my guess. - Michael Coley - wwol.com

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