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Technology Stocks : Applied Magnetics Corp -- Ignore unavailable to you. Want to Upgrade?

To: T Bowl who wrote (11641)	3/26/1998 7:24:00 PM
From: Frodo Baxter	Read Replies (2) \| Respond to of 12298

Puppetmaster never said anything about $44/share... Q4 96: 1.5mln @ $26.50 Q1 97: 1.7mln @ $30 Q2 97: 1.2mln @ $28.85 Total- 22.2mln @ $13.50 It was stupid. Still is: (10Q) During the third and fourth quarters of 1998 [calendar Q1&2], the Company is obligated to settle certain put option arrangements entered into in connection with its open market stock repurchase program... The Company has the option to settle these obligations in cash or by issuing additional common stock, which would have a dilutive effect upon existing shareholders. The amount of the settlements will be based upon the value of the Company's common stock at the time of settlement, and the decision whether to make these settlements in cash or stock, or a combination of both, will be made based upon prevailing market conditions and other factors at the time of settlement. At the market price for the Company's common stock on February 3, 1998, the total cash payment, if elected, would have been approximately $20.7 million. p.s. I'd be happy to lose your money.