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Technology Stocks : VALENCE TECHNOLOGY (VLNC) -- Ignore unavailable to you. Want to Upgrade?

To: kolo55 who wrote (6035)	12/15/1998 1:43:00 PM
From: Zeev Hed	Respond to of 27311

Paul, I believe the threshold for reporting is ownership of 5% of the common stock, then they have to report by the tenth of the month following the transaction. It is quite possible as holders of debentures rather then common stock, they may not have to report if their short position (let say the full 2.5 MM shares in hedging their total $15 MM debenture) exceed 5% of the outstanding shares. I am not sure about this and it could be related, but you will have to check somewhere, to whether or not the debenture gives them common voting rights prior to actual conversion and ownership of commons. Sorry that I cannot be more specific. Zeev