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Technology Stocks : Orckit (ORCT) -- Ignore unavailable to you. Want to Upgrade?

To: John F. Dowd who wrote (1195)	5/25/1998 9:04:00 PM
From: savolainen	Read Replies (2) \| Respond to of 1998

[management control] hi jfd, was concerned as well that management might be cashing out... but it looks like they're keeping control... from my rough math it looks like they will still control over 50% of outstanding shares after the follow-on... from the 96 annual report: all directors and executive officers as a group (10 persons) owned 9,243,102 shares... they have probably picked up a few more since then as share count has increased from 12,446,000 at that time to 14,658,000 last quarter... for argument's sake say 1/4 of those new shares (probably low), or 553,000 shares, went to management thus (in millions) 9.24 + .55 = 9.79 total management shares before follow-on ... 9.79- 1 = 8.79 total management shares after the follow-on ... new share count 14.6 million + 2 million (new shares issued) = 16.6 million total after follow-on ... 8.79 /16.6= 53% still owned by management... let us know if you hear anything from your broker regarding the follow-on... thanks s