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Technology Stocks : MSGI Marketing Services Group Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Hyrulean King who wrote (540)4/22/1999 1:48:00 PM
From: brent gephart  Respond to of 3418
 
It is good for both MSGI and GE. MSGI won't have to pay out the preferred dividend any more which will be very good for MSGI's earnings. GE will maintain 25% of MSGI's outstanding stock and get the benefits of the programs that MSGI does for GE, also GE will maintain a board seat according to the article.

MSGI Exercises Right to Convert GE Capital from Preferred to Common Shareholder of MSGI

marketwatch.newsalert.com



To: Hyrulean King who wrote (540)4/22/1999 1:52:00 PM
From: Mark Woolfson  Read Replies (1) | Respond to of 3418
 
The news release is out. MSGI will force GE to convert their preferred shares.

Under the agreement MSGI had with GE, they had 50,000 preferred shares of MSGI stock and under the terms of the preferred shares, MSGI had to pay interest on those shares to GE. 91% of the money MSGI loses are those interest payments. So they will be profitable relatively fast.

Mark


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