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Technology Stocks : 360Networks - TSX - TSIX -- Ignore unavailable to you. Want to Upgrade?

To: teevee who wrote (231)	5/20/2001 5:46:46 PM
From: Frank A. Coluccio	Read Replies (1) \| Respond to of 449

deleted.. I answered my own question.

To: teevee who wrote (231)	5/20/2001 8:49:18 PM
From: James Calladine	Read Replies (1) \| Respond to of 449

Thanks for the interesting post. Two questions: 1) Do you think the controlling shareholder group have the ability to come up with the $300 mil in the time frame? 2) What does the $300 mil do, and how much time does it buy before another transfusion is needed? Namaste! Jim

To: teevee who wrote (231)	5/21/2001 3:53:20 PM
From: FESHBACH_DISCIPLE	Read Replies (1) \| Respond to of 449

ALCATEL DEATH SPIRAL PREFERRED the shares are convertible at last 20 day average price by third anniversary the lower the stock goes the more shares they get. The 200 million loss is how much they estimate they will lose from the 20 day average price and the price they will receive. By way of example with 20 day average of $1.00 they would get 700 million shares. tenkwizard.com SERIES 1 CONVERTIBLE PREFERRED SHARES 360networks' board of directors authorized the issue of 700,000 preferred shares designated as Series 1 Convertible Preferred Shares ("Series 1 Preferred Shares") and issued the Series 1 Preferred Shares in November 2000. At any meeting of 360networks' shareholders, except meetings at which only shareholders of a specified class of shares (other than the Series 1 Preferred Shares) are entitled to vote, holders of Series 1 Preferred Shares will be entitled to that number of votes per share holders of Series 1 Preferred Shares would be entitled if they had converted their shares into Subordinate Voting Shares. Subject to the preference of any other class of outstanding Preferred Shares, the holders of Series 1 Preferred Shares will be entitled to participate equally with holders of Subordinate Voting Shares on any dividends our board of directors declares out of funds legally available for the payment of dividends as if the holders of Series 1 Preferred Shares had converted their shares into Subordinate Voting Shares. If 360networks is liquidated, dissolved or wound up, the holders of Series 1 Preferred Shares are entitled to receive, on a priority basis, an amount equal to their issue price and any accretion to the date of liquidation. Series 1 Preferred Shares are convertible at the option of the holder into Subordinate Voting Shares at a conversion price of $21.7193. From the first anniversary to the third anniversary of the date of issue, provided the closing price of 360networks' Subordinate Voting Shares is equal to or greater than $32.57, the Series 1 Preferred Shares are convertible at 360networks' option at the 20 day weighted average price preceding the date 360networks gives notice of conversion. In addition, following the third anniversary of the date of issue, 360networks may convert Series 1 Preferred Shares into Subordinate Voting Shares at the 20 day weighted average price preceding the date 360networks gives notice of conversion regardless of the closing price of 360networks' Subordinate Voting Shares. On the twelfth anniversary of the date of issue, the Series 1 Preferred Shares will be automatically converted into Subordinate Voting Shares at the 20 day weighted average price preceding the date 360networks gives notice of conversion. In addition, if a competitor of Alcatel acquires more than 30% of 360networks' equity or voting power attached to our shares prior to the earlier of the third anniversary of the issue date and termination of the technology cooperation agreement 360networks entered into with Alcatel at the time of the sale of the Series 1 Preferred Shares, the holder also enjoys certain conversion rights at a premium amount ranging from 101% to 103% depending upon the date of conversion. In all circumstances, the amount to be converted is the issue price for the Series 1