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Gold/Mining/Energy : ARAKIS: HIGH RISK OIL PLAY (AKSEF)
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To: Razorbak who wrote (6222)6/19/1997 8:59:00 AM
From: Zeev Hed   of 9164
 
Razor, if memory serves, McLeod options were at $3/share, if the stock was at $4/share he would have to sell 750,000 shares, and depending on the tax rates in Canada, probably twice as much or 1,500,000 shares. First this would not be easily absorbed, second, a CEO selling half his position would have given the wrong signal third, I am not even sure that all his options (about 3 MM if memory serves) were excerciable at the time.

Zeev
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