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Technology Stocks : DII Group, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Jimbo Cobb who wrote (1793)	2/3/1999 7:16:00 PM
From: Nevin S.	Read Replies (1) \| Respond to of 1845

Dii calls convertible notes: biz.yahoo.com The Dii Group, Inc. Calls 6% Convertible Notes Due 2002 NIWOT, Colo., Feb. 3 /PRNewswire/ -- The Dii Group, Inc. (Nasdaq: DIIG - news), a leading value-added electronics design and manufacturing service provider, today announced that it has called for redemption on February 18, 1999, all of its outstanding 6% convertible subordinated notes due October 15, 2002. Since year-end, the company has converted approximately $59.7 million of these notes into about 3.2 million shares of common stock, and has now called the approximately $26.5 million of remaining notes outstanding. The call price will be 103.429% of the principal amount of the notes plus accrued interest, or approximately $1,054.79 per each $1,000 principal amount of notes. The notes are convertible, on or prior to 5:00 p.m. Eastern Standard Time on February 17, 1999, into Dii Group common shares at a conversion price of $18.75, or approximately 53.333 shares per each $1,000 principal amount of notes. Yesterday, Dii Group common stock closed at $28.0625. The remaining $26.5 million of outstanding notes can be converted into approximately 1.4 million shares of common stock. ''With the conversion of these notes into common stock, our balance sheet is significantly strengthened, with debt to total capital of around 50 percent,'' said Ronald R. Budacz, Dii Group chairman and CEO. ''Our core businesses -- Dovatron and Multek -- are growth companies. A strong financial position allows us to continue financing their growth around the world and into new technologies at a reasonable cost.'' The redemption is being carried out under the terms of an indenture with the Chase Manhattan Bank, N.A. Procedures for surrendering the notes for redemption or conversion will be mailed to all registered noteholders by the Chase Manhattan Bank. Noteholders with questions should contact the Chase Manhattan Bank at the following address: