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Technology Stocks : GateField (GATE)
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To: SyncMan who wrote (3960)5/14/2000 12:55:00 PM
From: easytarget  Read Replies (2) of 4005
 
SyncMan

You state:

"If 50.1% of the shareholders of GATE stock vote for the deal, it's done."

What I was trying to say was that 50.1% of the SHARES are owned by less than 5% of the SHAREHOLDERS. So the votes of the more than 95% of shareholders who represent less than 50% of the total shares will mean nothing if the less than 5% of the shareholders that represent over 50% of the shares vote for this deal.

Actually, since this company is registered in Delaware, there is a good chance that Actel, Gatefield management and potentially other "major" shareholders with conflicting issues (i.e. potential to sell large blocks of shares without completely depressing the stock price) might not be permitted to vote, so we still stand some chance that our votes will count.
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