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Technology Stocks : IDT *(idtc) following this new issue?*
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To: Condor who wrote (7097)5/3/1999 4:29:00 PM
From: Andrew H  Read Replies (2) of 30916
 
From Hawaii on Yahoo:

>>KSE, my due diligence tells me
by: hawaii60 58532 of 58569
that the company received 100% approval of the bondholders. Also, whether they did or not would not have mattered because they only needed 51% and already announced they had 99%. They extended for one week as a courtesy and to make sure no bondholder could claim inadequate time.

Also, YES, you are correct. If the tender were to have been extended it would have to have been announced no later than this morning. Soo, the tender is closed.

They now have an obligation to close the financing facility and redeem the bonds as per the tender which I'm certain is occuring as I type this.

It is indeed a significant event because it removes the final obstacle to a public offering. I would guess they will spend a few days wrapping up the bond redemptions and then begin to let fly with the story. <<

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