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Technology Stocks : Westell WSTL -- Ignore unavailable to you. Want to Upgrade?

To: Anthony Tsai who wrote (16809)	8/3/1999 9:44:00 AM
From: Harry J.	Read Replies (2) \| Respond to of 21342

Anthony - The last Form 13G by WSTL insiders was filed with the SEC in February of 1999. Where'd you get the list? I note that RC Penny & MJ Simon are Voting Trustees for the Penny/Simon family voting trust (established Feb 1994 to hold and vote the Class B WSTL shares) and that most of (all?) the others on your list are beneficiaries of that trust. While the A shares (which are the publicly traded shares) are registered, the B shares (held by the trust) are not. In order to sell the B shares publicly, the B shares would have to be converted to A shares (or be registered which they have not been). Can you tell if that's what's going on? And do you have a sense for how much ownership interest is being sold in the aggregate here? Looks to be about 352,000 shares. As of April 30, 1999, there were 16,914,573 Class A shares outstanding and 19,527,069 Class B shares outstanding. These numbers, by the way, come from an amended Form S-3 Registration Statement filed June 25, 1999, with the SEC. That S-3A would register 8.5 million additional WSTL Class A shares to be used to cover the conversion of the $20 million conv. debentures placed on April 16, 1999, at an initial exercise price of $6.372/share (which can be adjusted upward to the lower of a multiple of the initial price computed annually and the market price for Class A shares, I think; where'd I put that debenture explanation? . . .). The shares also would cover exercise of the outstanding warrants (which expire on April 15, 2004) which have an exercise price of $8.9208/share. Finally, I note that a draft notice of annual meeting has been filed with the SEC. Both the S-3A and the draft notice contain wonderful summaries of where WSTL sees itself today and the risks and rewards of the near future. They make for fun reading, especially for nontraders like me. Regards, Harry

To: Anthony Tsai who wrote (16809)	8/3/1999 9:52:00 AM
From: Jon Taulbee	Respond to of 21342

insider selling is not a bad thing Quickly looking over the last 14a it looks like this is a small holding of most you have listed above i.e Robert c Penny Trust is selling 61,149 shares , they hold 5,891,635 for Robert Penny and 546,817 shares for Mr Simon. This is only a small example put this doesnt look like the insiders are running for the hills. It's summer time and Vacation time.

To: Anthony Tsai who wrote (16809)	8/3/1999 10:52:00 AM
From: Skiawal	Read Replies (1) \| Respond to of 21342

Anthony...<Tons of people filed to SELL shares> You mean two, not tons...There are only TWO parties selling. The Simon Trust and the Penny Trust. All these people are within the TWO trusts and when you compare the percentage sold to the amount held in the trust...it would take approx. 15 years for the trust to be liquidated at this rate...FOR THE RECORD! What I am more interested in, is if insiders file to buy more stock than if Penny or Simon sell a few of their trust shares. By the way, nice to sell WSTL finally getting a piece of the ISP ADSL business...Should help ADSL sales for next qtr...