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To: Gemini who wrote (80351)11/15/1998 10:52:00 AM
From: BGR  Respond to of 176387
 
Allan,

I am not sure of the legal restrictions and/or time constraints on subsequent open market sales. Sorry that I cannot help you here.

I do think that it is legal for companies to buy back shares to fund Employee Stock Purchase Plans and/or Employee Stock Option Plans, in effect reselling the shares to employees at subsidized prices. Again I am not sure of the time constraints involved here.

-Apratim.



To: Gemini who wrote (80351)11/15/1998 11:19:00 AM
From: Chuzzlewit  Respond to of 176387
 
Gemini, yes, it is legal. I know of no time restraint.

Neither losses nor gains in such trading are reported on the income statement.

TTFN,
CTC