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Technology Stocks : VALENCE TECHNOLOGY (VLNC) -- Ignore unavailable to you. Want to Upgrade?

To: Cathi Wierzbicki who wrote (1551)	12/5/1997 10:16:00 AM
From: kolo55	Respond to of 27311

On rule 144 stock sales. I know there are limited periods when insiders can't sell, like 30 days before the end of the quarter, and I believe 48 hours after the release of earnings. Also there is a period of time after a IPO when insiders are restricted from selling, used to be 12 months, but now I understand they have shortened that period. In CR's case, Valence had reported earnings in early November, so he had a window to sell in. BTW I heard rumors that this sale was connected to a divorce settlement; and part of the settlement was that the sale couldn't occur until the first legal opportunity after the lawsuit against Valence was settled. Anyone out there that can confirm that? I don't know of any restrictions on the amount or percentage of stock that insiders notify selling in a 144. The chairman of Nam Tai (NTAIF) filed a 144 to sell over 50% of his holdings in August, and he owned about 30% of the stock out at the time. If you want to read that thread, now there is an interesting story of management intrigue. He never did sell the stock, and ended up actually buying even more shares in a rights offering. Hope this helps. NOTICE: this post contains speculations and rumors- please be careful how you interpret. Paul