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Technology Stocks : Ampex Corporation (AEXCA) -- Ignore unavailable to you. Want to Upgrade?

To: Carl R. who wrote (9280)	6/16/1999 11:09:00 PM
From: killybegs	Read Replies (3) \| Respond to of 17679

One source of stock may be from the Redeemable preferred holders. 1.5 million face amount of preferred is going to be redeemed on June 30 at the fair market value determined by the average of the 30 days trading prior to June 30. If the average price is 4, for example, 375,000 shares would be issued. The redeemable preferred is held by some of the high yield funds like Evergreen High Yield who may be cashing in now what they expect to receive in share on June 30(all this info is in the 10k and the last 10Q. To the extent they can pressure the stock price here, the more shares they can get. Maybe Old Ed will drop a few more press releases here and thwart their efforts to "induce the required rate of return"