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Microcap & Penny Stocks : CAML lovers Where are you?
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To: Jon who wrote (1292)4/1/1997 12:58:00 PM
From: Philip Pasteur   of 1541
 
Jonathan. The vote on the NOW 20 for 1 split..................
Is due to be held a a stockholders meeting on April 2. Tomorrow.
There is little doubt that it will pass as DW and relatives and employees control a majority of the outstanding shares.

Here is an excerpt from the pre 14a filed with the SEC.

"Upon approval by the shareholders, the transfer agent will
prepare new share certificates for all record shareholders
indicating the number of new common shares of the Company owned.
All fractional shares shall be rounded with those equating to a
.5 and greater of a new share rounding to one new share and those
equating to less than .5 discarded. There will be no payments
for fractional shares. "

It appears as though the split will be implimented as soon as the measure is passed. It will undoubtedly take awhile to perform the mechanics.

I have heard of numerous lawsuits against Camelot. Unfortunately the specifics are not readily available. You might check with the clerk of the US District court located in San Francisco. At one time I was told of a large suit being organized for filing there. My information is that this was a consumers class action.

If you are really interested you should contact an attorney. You might be surprised at what is already in process.
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