Word: convert
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Dates: during 1980-1989
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Concurrent with the public offering of non voting shares, Sallie Mae went into a 35 for stock split of its voting shares those which were bought in 1974 by universities and banks Institutions with voting shares got to convert about one third of their new post split shares into non voting shares and sell them and altogether an additional 1.5 million shares entered the market. So what was planned as an offer of 6 million shares at $17 a share ended up as a sale of 11.5 million shares at $20 a share...
Harvard however did not convert any of its 840,000 shares into non voting stock to sell much to officials later regret. The voting stock because of its qualifications on ownership voting shareholders have to be participants in the Guaranteed Student Loan Program has traditionally been worth less than non voting shares...
...Brien says that Harvard will certainly convert and sell as much of its voting stocks as it can when the conversion will next be permitted this summer. "Looking at the spread you have to sell," he explains...
...third blow fell when Cincinnati Gas & Electric and two partner companies announced that they were halting further nuclear construction on their long-troubled William H. Zimmer plant at Moscow, Ohio. They plan to convert the 810-MW facility, 97% finished at a cost of $1.7 billion, into a coal-burning installation. A fourth shock to the gasping industry came when a Pennsylvania public utilities commission led overextended Philadelphia Electric to halt construction for 18 months on one of its two Limerick reactors, where $3 billion has already been spent...
...certainly appeared that way from game's start last night. Using their superior skating skills, the Tigers cruised to three quick goals. At the other end, however, Kelly Landry did manage to convert Harvard's only shot of the period into a goal to keep the contest within reach...