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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: jlib who wrote (27824)	4/7/1999 11:08:00 PM
From: Richard Miller	Read Replies (1) \| Respond to of 122087

Jimmy-I am beta testing a new version of Browsemaster which does some pretty great new things. It still has some bugs, so is not available for release. Craig is calling a "beep windows API", but I hear nothing even though all my speakers seem to be working. Is there something somewhere that may be turned off that would keep that command from making noise? Anyone else have any ideas? If you think you might like auto-refresh, and beep when a new message arrives, you might wish to assist me. Tsk Tsk.

To: jlib who wrote (27824)	4/7/1999 11:09:00 PM
From: RockyBalboa	Read Replies (1) \| Respond to of 122087

That looks like a convertible issue. They issue shares which represent 1/100 parts of a convertible preferred stock, which gets PIK dividends (pay in kind). "Convertible" usually refers to the term convertible into common stock at a fixed, or floating basis. The liquidation preference refers to a payment if certain clauses are met, can be redemption of the preferred stock, rather than conversion into common shares. It is also mentioned here: edgar-online.com (they are registering 10M shares for resale). "The following table sets forth our consolidated capitalization as of December 31, 1998 and as adjusted to give effect to the January 1999 offering of approximately $300 million aggregate principal amount of senior notes by Hermes Europe Railtel B.V. and the offering of the 6,000,000 depositary shares representing shares of our convertible preferred stock. The consummation of this offering is not conditioned upon the consummation of the depositary share offering, and we cannot assure you that the depositary share offering will be consummated." Usually a company files an 8-K statement in which the exact terms are written down, regarding -conversion (into common shares), exact conversion terms + registration rights to resell the newly created common shares -redemption, and certain clauses under which a redemption (returns the preferred stock against cash) -preference over common shares in case of dissolution of company... -voting rights ... C.