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Gold/Mining/Energy : T.ITE: iTech Capital (TSE)
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To: ralfph who wrote (5005)4/24/2002 6:37:21 PM
From: Michael Brandon  Read Replies (1) of 5053
 
The Company issues one of its most informative shareholder updates the day after Mr. Graham resigns. The resignation coincides with the rejection of an unsolicited takeover bid from an unnamed shareholder. The proxy vote includes a proposed $19,807,079 increase in shareholder equity through reduction of deficit as reflected on the Consolidated Balance Sheet.

It looks like their backs are very close to the wall - very uncomfortable. One thing is for sure, nearly two years of complacency is out the window. I don't know what to make of all this....are we looking at a 50/50% chance of takeover? What happens then? Any words of wisdom from someone who has experienced similar situations?

Thanks. -Mike-
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