ARAKIS: HIGH RISK OIL PLAY (AKSEF) Message Board

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Gold/Mining/Energy : ARAKIS: HIGH RISK OIL PLAY (AKSEF)

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To: Vincent Ramirez who wrote (6146)	6/16/1997 3:44:00 PM
From: Zeev Hed	of 9164

Vincent, the practice of loaning money from corporate coffers to executives is widespread, the board must authorize it, and I see no reason why that would not have been the case (after all, the current board is of Luftur making). What is interesting is that I believe he used that money to buy shares in Arakis, he could have exercised options and sold some of the share to pay for the additional shares, but he decided to actually borrow the money. His collateral are the shares themselve. At least in similar situations that I am aware this was the collateral. By the way, I am not saying I like this in particular, but that is life in many corporate fiefdoms. Zeev PS Apparently, the market does not like it either, so they are going to give Luftur the opportunity to borrow another million and buy another 300,000 shares. <VBG>

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