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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT -- Ignore unavailable to you. Want to Upgrade?

To: djane who wrote (6381)	8/8/1999 12:46:00 AM
From: djane	Read Replies (2) \| Respond to of 29987

ICO Fails Again To Win Support For Rights Issue RDSL 03 August 1999 ICO Global Communications, satellite mobile phone company, has once more failed to garner enough support from its shareholders for its planned USDlr500 mil rights issue and is now planning a private placement with its existing investors, for which it says it has already received pledges of USDlr600 mil. As a result of the failed rights issue, ICO has had to postpone a USDlr43 mil interest payment due on 02 August 1999. If the payment is not made by end-August 1999, ICO may be declared bankrupt. Abstracted from Financial Times ¸ EMAP Media 1999