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Technology Stocks : Fuel Cells -- Ignore unavailable to you. Want to Upgrade?

To: Secret_Agent_Man who wrote (120)	9/16/2000 6:57:18 PM
From: Paul Kern	Respond to of 196

FCEL dilution from Hoovers: Newstraders - September 15, 2000 16:05 (NewsTraders.com)-- FuelCell Energy (FCEL), which split its stock 2-for-1 earlier this week, plans to seek shareholder approval of a change in its bylaws that would ease the way for future splits. In a preliminary proxy filing Friday, FuelCell said it intends to call a special meeting on Nov. 21 to request that shareholders allow the company to increase the number of common shares it is authorized to issue to 150 million from 20 million. The company said its board believes it to be desirable to have the additional 130 million shares available for situations in which their issuance may be suitable without the delay. Such additional shares could be used in future stock dividends and stock splits, stock offerings, acquisition and other corporate purposes, the filing stated. While FuelCell provided no specific plans for the additional shares, such an increase can spark speculation of a stock split, as well as stock-financed acquisitions. Shareholders of record as of Oct. 6 are entitled to vote on the measure. In recent market activity, shares of FuelCell, a Danbury, Conn.-based developer of electric power generation products, dropped $1.00 to $83.75. Copyright 2000 NewsTraders Inc. All Rights Reserved 16:05 Friday, September 15, 2000