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Technology Stocks : VLSI Technology - Waiting for good news from NASDAQ !!! -- Ignore unavailable to you. Want to Upgrade?

To: DanZ who wrote (3318)	4/17/1998 10:35:00 PM
From: Joe C.	Read Replies (1) \| Respond to of 6565

Dan, I called Investor Relations today and asked about their investment in ARM Holdings. I was told that VLSI owned 2.5 million ordinary shares of which they contributed 500,000 shares for the offering. The 500,000 shares converted to 150,000 shares of the ADR's which were priced at $29.17. This works out to a little under 4.5 million. The remaining unsold ordinary shares (2,000,000) convert to 600,000 ADR shares and are subject to the 6 month lockup. The stock closed at a little over $40 which values their remaining investment at about 24 million dollars. VLSI entered into this investment some time ago and had written off the entire amount. As a result, the entire 4.5 million proceeds will appear as an extraordinary gain for the next quarter. Using a nice round 50 million shares outstanding that's about .09 /share - found money. IR told me that they will be including this information as a footnote on the 10Q. Regards, Joe C.