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Technology Stocks : PSFT - Fiscal 1998 - Discussion for the next year -- Ignore unavailable to you. Want to Upgrade?

To: bob zagorin who wrote (4222)	1/11/1999 2:07:00 PM
From: bob zagorin	Respond to of 4509

one correction. the distribution is 1:50 not 1:5. sorry for typo. here is more inf. from the website: :...Momentum, a newly established enterprise in the software industry, was recently formed by PeopleSoft to accelerate research and development in the critical areas of e-business, analytic applications and industry-specific software products. It is expected that the Momentum shares will be traded under the symbol “MMTM” on the Nasdaq National Market. By December 31, 1998, PeopleSoft will have contributed $250 million to Momentum. PeopleSoft will account for the fair market value of the shares distributed as a dividend and will expense the remainder. PeopleSoft and Momentum have entered into a development agreement pursuant to which PeopleSoft and possibly other third parties will undertake research and development activities on behalf of Momentum. PeopleSoft holds an option to acquire exclusive licensing rights with respect to individual products developed by Momentum. PeopleSoft also holds an option to purchase all of the outstanding Momentum Class A Common Shares at a price to be set by a predetermined formula...."