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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: LTK007 who wrote (15771)	12/24/2001 4:57:02 AM
From: Sam	Read Replies (1) \| Respond to of 99280

ESST: has filed to sell 2.5m of stock. The wife of the Chairman of the Board is selling 1.5m of that stock. I wouldn't hold this stock for more than a few hours (if at all). ESS says files to offer 2.5 million new shares FREMONT, Calif., Dec 12 (Reuters) - Microchip designer ESS Technology Inc. (NasdaqNM:ESST - news) said on Wednesday it had filed with the United States Securities and Exchange Commission for a secondary offering of 2.5 million shares of its common stock. Fremont, California-based ESS also said one of its board members, Annie Chan, intended to sell 1.5 million of her own shares. Her husband, Fred Chan, is chairman of ESS. ESS said its new offering was intended to increase the stock's liquidity, and said it would use the proceeds for general corporate purposes. Shares in ESS closed up 2.6 percent at $21.39 on Nasdaq. Their 52-week high is $22.45 and their 52-week low is $4.50.