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Technology Stocks : Orbital Engine (OE)
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To: John M Connolly who wrote (4526)10/16/2000 8:46:43 PM
From: John M Connolly   of 4908
 
The following email was sent to Ross Kelly of Orbital.
Dear Mr. Kelly

The progress that Orbital has made during the last year is encouraging in as much as after some decades Orbital may become profitable. The last fiscal year was a disappointment with $50M in revenue and losses of $10M. However, I write to you to express my concern regarding the recent insider sales of our CEO and the Executive Director. As you are aware, insider transactions are usually considered an indicator of the prospects of a company. Likewise insider holdings can be relative to the prospects of a corporation. The meager holding of our management has always been a negative reflection on Orbital.
Now when shareholders are holding hopes of success and a profit our two key executives are selling their options. As a corporate profit would do much to enhance shareholder value, do these sales reflect management's lack of confidence in their own ability to bring this corporation to a profit in a prudent manner? These sales question management's commitment to shareholder value and a profitable operation. These sales are most troubling in as much as they question management's ability to turn Orbital into a profitable going concern. If management does not feel that they have the ability to produce profits then a prudent board of directors would have to make some changes. I believe that this problem is of such importance that it should be addressed and the forthcoming AGM.
I would appreciate a response.
Yours sincerely
John Connolly
Owner 23,0000 ADR's
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