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Microcap & Penny Stocks : GBFE - GOLDEN BOOKS FAMILY ENTMT INC -- Ignore unavailable to you. Want to Upgrade?

To: BARRY ALLEN who wrote (91)	1/13/1999 8:49:00 PM
From: JEM	Read Replies (3) \| Respond to of 476

Can anyone confirm an after-hours trading report of over $1.50 tonight? Also, for those attempting valuation (most definitely not my strong suit), here's all I have - GBFE was supposedly the subject of a case analysis team in December at Columbia Business School in a "Turnarounds" class. Their reported liquidation analysis put the value at $84 million, or a going concern valuation of $166 million, "conservatively". post.messages.yahoo.com. And from a press release in November, concerning the standstill agreement - I have not since heard of any changes to the status of this: Business Wire - November 05, 1998 17:55 NEW YORK--(BUSINESS WIRE)--Nov. 5, 1998--Golden Books Family Entertainment, Inc. (Nasdaq: GBFE) (the "Company") announced today that it is completing a standstill agreement with the steering committee (the "Committee") representing the holders of approximately $100 million of $150 million in aggregate principal amount of the Company's 7.65% Senior Notes due 2002 (the "Senior Notes"), pursuant to which the Committee would agree to take no action against the Company through February 16, 1999, including with respect to the Company's decision, as heretofore announced, not to pay interest due on the Senior Notes. As part of the standstill agreement, the Company's indebtedness under the Senior Notes will be further supported by a lien on specified additional collateral. The standstill agreement is subject to final negotiation and execution of definitive documentation….. The Company also announced that, pursuant to the documents governing its 8.75% Convertible Trust Originated Preferred Securities due 2016 (the "TOPrS"), the Company is exercising its right to defer the payment of interest on the TOPrS from November 20, 1998 until February 20, 1999. Finally, the Company announced that, with the consent of the holders of its Series B Preferred Stock, the dividend due November 1, 1998 on the Series B Preferred Stock was not declared or paid. The Company will be conducting discussions with the Committee, as well as with representatives of certain holders of TOPrS representing approximately 56% of the approximately $110 million aggregate principal amount thereof, respecting an overall restructuring of the Company's indebtedness. ------------------------------------------------------------------- Bonne chance, all. JEM