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To: Rob C. who wrote (6137)6/8/1999 12:15:00 PM
From: Ron S  Read Replies (1) | Respond to of 20297
 
Cancellation should not lead to thoughts of overhang. The company only needs the cash for acquisitions and they can use shares in almost all cases. If there is another need, debt is an easy option now that the company is in the black. The insider shares will always be a possible overhang in every company and can be sold gradually in any case.
Cancelling is possible, and runs no problem for the company, in addition to being fair to current holders who would suffer too much dilution given the recent price. Some investment bankers just talked themselves into a fee which is not necessary and should be ridden out of the picture since they bobbled the ball they were given.