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To: rkral who wrote (180954)4/30/2005 8:51:17 PM
From: Ali Chen  Read Replies (2) | Respond to of 186894
 
Ron, "--- there is no practical difference between a) reissuing repurchased shares and b) retiring repurchased shares and then issuing newly authorized shares"

Certainly. I see that you agree that the whole scheme
can be reduced to "Step 4" only: "repurchase, retire,
re-issue, give away", all other steps are irrelevant
and do not change the net outcome.
The only practical importance is that you repurchase
shares at current market value while giving them
away at designated value at the time of grant, which
is always smaller than the market.

- Ali



To: rkral who wrote (180954)4/30/2005 9:49:26 PM
From: Elmer Phud  Respond to of 186894
 
there is no practical difference between a) reissuing repurchased shares and b) retiring repurchased shares and then issuing newly authorized shares

Bingo


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