Citrix Systems (CTXS) Message Board

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Technology Stocks : Citrix Systems (CTXS)

CTXS 103.90

0.0%

Nov 2 5:00 PM EST

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To: Redman who wrote (6228)	3/19/1999 3:47:00 PM
From: MikeM54321	Read Replies (1) of 9068

"Citrix Systems Inc. plans to solicit shareholder support to allow the company to increase the number of authorized common shares it can issue from 150 million shares to 400 million shares...The company said the increase would provide sufficient flexibility for future corporate purposes, such as acquisitions, stock splits or dividends, convertible securities offerings and stock option plans." Well I had to rub my eyes in reviewing these numbers. The shares outstanding currently sit at 43.2 million. The float is 28.1 million. And if the article above is correct, they want to be authorized to be able to issue 400 million shares? Well as we all know, the market does not like uncertainty. This announcement on top the $400 million convertible bond issue for "general corporate purposes," is starting to be surreal. I'm sure they are related. What I find most interesting is nothing appears to have leaked out as to their plans. Maybe CTXS is doing well to hold up at these levels in spite of a lot of uncertainty. I would find it hard to believe that they want shareholders to vote in two weeks for the authorization without further details. MikeM(From Florida)

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