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Technology Stocks : Vitesse Semiconductor
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To: EepOpp who wrote (417)2/5/1997 2:24:00 AM
From: Lonnie Yearwood   of 4710
 
In the latter part of 1996, Vitesse had to "deactiviate" some options or something in order to sell an additional 3M shares at $36. This was done to stay under a 25M authorized-share limit.

Somewhere I read that the company was going to get another 25M shares authorized. In a January 29 press release, the company announced a 3-for-2 split. Nothing was said about an increase in the number of shares authorized.

Does anybody know what is going on here? There are presently 23M shares issued. Thanks for any info.
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