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

To: Dave Heibeck who wrote (11247)	9/23/1999 8:39:00 PM
From: killybegs	Respond to of 17679

David, Will come back with some detailed speculation ; however, we sit on the same side of the table as Bramson, Downs, McKibben etc. Bramson is the largest individual shareholder of Ampex. Whatever is structured for the IPO will benefit all of us. Thought the interview went well. Short but good. Just a little technical info re the German company TV1. Under German corporate law, although we hold minority equity, we have control of the company....

To: Dave Heibeck who wrote (11247)	9/23/1999 9:04:00 PM
From: Carl R.	Read Replies (2) \| Respond to of 17679

On the contrary, when we have discussed the possibility of an IPO we have been completely serious. One thing to be aware of is that if when the IPO comes, even if Ampex retains 80% ownership of iNEXTV, AXC stock will not reflect the full value of the stock it holds. Thus it will act like a closed end mutual fund and sell at a significant discount. For examples of that look at MMGR and its sub, CARI, or look at IDTC and its sub NTOP. That doesn't mean we won't benefit, just that we won't reflect the full market value, just as we don't reflect it today. The difference is that hopefully like CMGI and LCOS, AXC can periodically sell a few shares of iNEXTV. This will allow it to recognize some profit, allow it to get back to a positive equity situation, and allow it to pay the redeemables in cash, and maybe even pay off the junk bonds. All of these will be substantial benefits, and as they occur, will be reflected in the price. As shareholders the best thing that could happen to us would be for Ampex to set up a directed share program giving existing shareholders the right to purchase shares of the IPO at the IPO price. Someone is going to make a bundle on the IPO shares, why not Ampex shareholders? Also, if it is know that those rights will be available, no doubt AXC stock will rise as people who want iNEXTV shares buy in. Since this would also benefit Ed, I hope that he will consider it. Perhaps for each 1000 shares of AXC you own you could buy 100 shares of iNEXTV. Carl