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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Steve Lee who wrote (6159)	10/11/2000 5:39:23 PM
From: SBHX	Read Replies (1) \| Respond to of 30051

Steve, Not exactly, ever since that, umc has given a stock dividend (basicallly more new dilutive stock to existing holders instead of cash dividends --- a strange taiwan practise). I don't have the exact stock dividend numbers, but I think the # of stocks is now higher than 111M. edit : however, the tricky question is : what happens in march of 2001? SbH

To: Steve Lee who wrote (6159)	10/11/2000 6:02:29 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 30051

Steve, It is indeed quite possible that a "non cash" loss will have to be reported. The stock did not fuss much when the "non cash" profit was recorded, so I presume that the market will pay more attention to the operational profits this time as well. If you remember, the bu$$ took a sizeable non cash charge against options issued (or issuable) and the stock did not react to that either. Where it will be important, however is the shaving of few dollars on the book value of SNDK, since the current book value includes the last "marked to market" for the half of the shares that are saleable (the restricted shares are still at cost, I believe). Zeev