Marker International MRKR Ski Bindings,clothing,snowboards Message Board

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Non-Tech : Marker International MRKR Ski Bindings,clothing,snowboards

MRKR 0.955

-4.4%

Nov 3 3:56 PM EST

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To: John R Resseger who wrote (299)	10/26/1999 12:48:00 AM
From: John R Resseger	of 360

MRKR, Marker International. This Thursday 10-27-99 a Judge rules on approving the final plan of Reorganization. A Swiss entity, a partnership of Italian Bookmaker Tecnica and Austrian premo Ski Maker Volki, will own 100% of the dominant manufacturer and distributor of ski bindings. These contraptions sell for $100 to $400 and when made incorrectly can cause serious injury and attendant lawsuits. It's not the sort of business where you buy some components and slaps them together. Skiers using Marker Bindings have won more World Cup and Olympic events than any other has for several years now. MRKR ran into cash flow problems due to a sorry side venture into snowboard and attendant bindings development. Tecnica/Volki wanted to buy MARKER outright. The former CEO who held and still holds 40% of the stock balked at the low offer last spring. T/V bought the German Bank debt at a 50% discount. All told there is over $30 million in debt forgiveness. The deal that has been worked out calls for current Marker shareholders to receive 15% of this new company. Starting two years from 11/1 /99 Tecnica/V has a three year window to buy the 15% of Marker they don't own. An independent appraisal will determine the price. T/V may instead choose list the stock and hold it or start to distribute their 85%. This will coincide with the 2002 Winter Olympics in Salt Lake City Utah, Markers Headquarters. For the next two years MRKR will continue to be quoted on the NASDAQ. Marker will continue to file SEC documents. Marker will report net income of $26,474,300 on sales of $68,416,388 for the year ending March 31, 2000. Next Week I'll start a new board for the New Marker that emerges from Chapter 11 on Monday. Any objections ? I didn't think so.

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