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Gold/Mining/Energy : Repap (RPAPF)
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To: elcasmirb who wrote (420)6/8/1999 9:39:00 PM
From: pthomaso  Read Replies (1) of 485
 
There may be a strike brewing but there ought to be a revolt. I have just seen the papers for the annual meeting set for next Friday (18th) and we have the equivalent of a mandated shareholder potlatch in motion.

The last time this non-performing team of ours came to bat they set up the Larson squad for tens of millions of "free" shares that tilted because their performance was so bad that the stock continued it's tanking down from a loss of 95% of its value to more than 98% (remember when Repap sold for $7?). Well now they're fixing that for good with a 5 cent strike price for a mere 60 million shares. Want to guess what that is going to do to the price of the stock? The biggest piece of that pie now goes to our irreplacable chairman - - who, by the way, holds down at least two other jobs as a lawyer and as an investment executive.

All shareholders should vote NO for proposals 3 and 4 on the proxy form, and abstain on #1.
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