United Keno Hill, UKH, Toronto**** Opportunity Knocks! Message Board

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Gold/Mining/Energy : United Keno Hill, UKH, Toronto**** Opportunity Knocks!

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To: Harry K who wrote (1247)	12/10/1999 4:10:00 AM
From: Jaakko	Read Replies (2) of 1348

The AGM indeed was called for Dec. 7th at 4:00pm.... to change it to 10:00 am would have required some lead time... I got my proxy and circular on Dec.9 (two days AFTER the AGM).... It was sent under a bulk mail stamp (no date appearing on the envelope)... but the notice inside was dated Nov 4,1999... why did it go out as bulk mail????? I think this is more than ridiculous.... and TSE regulators should be called to investigate... there certainly was not enough time to send the proxy back, and some people didn't receive the notice in time to even attend.... The AGM was supposed to take place in company offices.... how many attended and what was the office capacity anyway???? No wonder,if the capacity is small then they obviously didn't expect a big crowd to show up if everybody got their notices too late!!!??? It doesn't look like the calling of the AGM was done properly... maybe Management didn't want us to attend at all!!! You see we could have voted not to accept their numerous option and other deals increasing the issuance of shares to them..... maybe it's not too late to have the meeting nullified and rearranged for a later date so everybody can attend.... It seems to me that the Chairman and the Deputy Chairman are well under way to gain control of the company if all the points in the circular got approved in the AGM.... I certainly would not have voted in favor of management at these low stock prices... the conversion of past salaries due etc. and issuance of options to management/directors etc. at these low stock prices is not favorable to other shareholders... Salaries in the $200,000 range per year are ridiculous when the company supposedly is in the ropes.... or is it really???..... no mention of it in the circular!!.... An interesting point in the circular was the Directors' and Officers' Insurance (against "liability incurred by them in their capacities as directors and officers").... annual premium paid was $16,000 in 1998.... it expired May 30, 1999.... and the carrier declined to renew the policy.... Management is now trying to look for another insurer.... With all the deals they have on the table to increase their own share ownership it doesn't seem to me that they are dealing at arms length with the issues and in the best interest of the shareholders other than themselves..... Is there not anybody we can complain to....?????

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