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Gold/Mining/Energy : BCB VOICE SYSTEMS INC. (c.BIV) -- Ignore unavailable to you. Want to Upgrade?

To: J J who wrote (49)	3/9/1998 4:33:00 PM
From: Flora Wood	Read Replies (1) \| Respond to of 440

Hi JJ and others - Just a response to a couple of questions on this thread. First, Ken's statement that he can't know who the street name shareholders are is completely sound. Because the shareholder registry encompasses only registered shareholders, it represents only a small fraction of the shareholders. Many companies do not know who their institutional shareholders are because the institutional positions are in street name and are not large enough that the institution has to file - just look up any stock on Bloomberg, for example and look under institutional holdings. Look at the date of the filings. Usually, they are old enough to be meaningless or no holders are listed which has to be incorrect. Secondly, how can a rights issue be oversubscribed when you didn't exercise your own rights? When you exercise your own rights, you have the option to subscribe for more than you actually own in the event that other shareholders don't exercise theirs and you can take up the slack. This goes for market makers too and in BCB's case I guess the combination of shareholders who subscribed for more than they owned and a market maker who is a real believer in the technology took up the slack. If I can answer any other questions for anyone, please e-mail me privately because I don't check this thread as often as I should. Flora