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Technology Stocks : Phoenix Technologies (PTEC) -- Ignore unavailable to you. Want to Upgrade?

To: John B. Dillon who wrote (3150)	2/19/1999 11:07:00 AM
From: Mark Brophy	Respond to of 3624

Phoenix needs to reprise Intel's Xircom investment. Xircom Repurchases 514,314 Shares From Intel Warrant Exercise Intel Maintains Original 2.5 Million Share Investment in Xircom See biz.yahoo.com. THOUSAND OAKS, Calif.--(BUSINESS WIRE)--Feb. 18, 1999--Xircom Inc. (Nasdaq:XIRC - news) Thursday announced that Intel Corp. exercised its warrant to purchase additional shares of Xircom common stock under a February 1997 agreement that was part of Intel's initial investment in Xircom. Under the terms of the warrant agreement, Intel elected to receive 514,314 shares at no additional cost in lieu of purchasing 1,509,903 shares at an exercise price of $27.01. Concurrent with the exercise of the Intel warrant, Xircom repurchased all 514,314 shares of common stock issued to Intel for a total price of $19.8 million, or $38.45 per share. Independent of the warrant exercise, Intel holds approximately 2.5 million shares of Xircom common stock acquired as part of its original investment in February 1997. At the time the agreement was made, Xircom was selling at 27. The price subsequently fell to 9 several times in the last 2 years. When the profits attributable to the partnership arrived, the stock rose and is now 37. Intel originally invested $50m, so they've received a 40% rebate. I hope Phoenix doesn't make the same mistake. As long as the stock price is at least 75% of the exercise price of the warrants, they can repurchase stock to cover the warrants without creating "tainted" shares in the eyes of the SEC. The exercise price in 1999 is 14.0475, so the price range for repurchasing is 10.5-14.0. If Phoenix can improve operations sufficiently for the price to rise to 10 ½, it could transform into a momentum stock. Previous history suggests that even if earnings increase, the company will be stingy and refuse to repurchase shares to cover the warrants.

To: John B. Dillon who wrote (3150)	2/22/1999 7:43:00 AM
From: Marc Phelan	Read Replies (3) \| Respond to of 3624

Phoenix Technologies Licenses IA-64 Firmware to Bull, Hitachi, NEC, Sequent, Siemens, Stratus and Unisys Extends Alliances With Leading System Suppliers to Enable Rapid Deployment of Enterprise Class Systems Based on Intel(R) IA-64 Architecture SAN JOSE, Calif.--(BUSINESS WIRE)--Feb. 22, 1999-- Phoenix Technologies(TM) Ltd. (Nasdaq:PTEC - news) -- the global leader in foundation and connectivity IP software -- today marked its entrance into the enterprise-class systems market with the announcement that Bull, Hitachi, NEC, Sequent, Siemens, Stratus and Unisys have licensed its Ready64(tm) firmware solution. biz.yahoo.com