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Technology Stocks : The New QLogic (ANCR) -- Ignore unavailable to you. Want to Upgrade?

To: KJ. Moy who wrote (17967)	9/8/1998 12:42:00 PM
From: Greg Hull	Read Replies (1) \| Respond to of 29386

KJ, If these reg/b/d people convert today and own about 40% of all outstanding shares, they can demand some changes in Ancor's business plan, can't they? My reading of the statements filed with the SEC is that the five big parties who own the Series B and Series C preferred stock cannot own more than 5% each of the outstanding common stock at any time. Therefore, if the five parties ganged up they would not own more than 25% of the outstanding stock. However, I don't think they are restricted as to whom the sell their stock, so they might be able to "influence" the new owner. I'm guessing that they have no trouble getting the ear of top management as it is. I'm not an attorney, so don't count on my reading. Of course if I were an attorney I would still give a disclaimer. They don't like anything pinned on them, do they? Greg