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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (8599)	6/24/1999 10:47:00 AM
From: Rande Is	Read Replies (1) \| Respond to of 57584

Good to see you here, Zeev. And thanks for helping us out on UOLP. You said, ". . .news release indicates to me that the debenture is floorless. . ." I am sincerely fascinated to know how you deduce that from the press release. I read PR as being relatively "fair" on a scale of Fair, bad and rotten. But if you are seeing that this can be floorless . . .that sheds light that I cannot see. . . so I wish to learn how YOU see it. What specifics in UOLP press release clues you to the convertible debentures announced as being floorless? I agree totally that the replacement of bank debt with debentures needs explanation by company. . .Did the bank call in loan? Could company no longer afford payments? Were they schmoozed into switching from cash payments to a bank to debenture and warrant payments to an investment firm? Or are they just morons, not knowing that this action carries a reaction? If they went in with their eyes wide open about debentures. . .that would imply a complacency toward stockholders. None of the above is good news. Incidently, if you are correct that this deal is floorless. . .then I am liking that 7 1/2 bid on UOLP presently for a nice exit from 2 15/16. . . .at least until somewhere down the road when I read in trading reports where these have been converted. We are all looking forward to your response. . . Rande Is