LINDON, Utah, April 16 /PRNewswire-FirstCall/ — The SCO Group, Inc. (“SCO”) (Nasdaq: SCOX – News), the owner of the UNIX operating system, received a
letter on April 15, 2004 from BayStar Capital II, L.P. requesting that SCO immediately redeem BayStar’s 20,000 shares of SCO’s Series A-1 Convertible
Preferred Stock. The letter asserts that BayStar is entitled to the redemption of its shares under Article VII.A(vii) of the Certificate of
Designation, Preferences and Rights of the Series A-1 Convertible Preferred Stock because SCO has allegedly breached Sections 2(b)(v), 2(b)(viii),
2(b)(viii) and 3(g) of the Exchange Agreement dated February 5 2004 among SCO, BayStar and Royal Bank of Canada, which also holds shares SCO’s Series
A-1 Convertible Preferred Stock.
letter on April 15, 2004 from BayStar Capital II, L.P. requesting that SCO immediately redeem BayStar’s 20,000 shares of SCO’s Series A-1 Convertible
Preferred Stock. The letter asserts that BayStar is entitled to the redemption of its shares under Article VII.A(vii) of the Certificate of
Designation, Preferences and Rights of the Series A-1 Convertible Preferred Stock because SCO has allegedly breached Sections 2(b)(v), 2(b)(viii),
2(b)(viii) and 3(g) of the Exchange Agreement dated February 5 2004 among SCO, BayStar and Royal Bank of Canada, which also holds shares SCO’s Series
A-1 Convertible Preferred Stock.
Link: biz.yahoo.com
