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Politics : Ask Michael Burke

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To: Sam Citron who wrote (23369)	10/8/1997 8:54:00 PM
From: Knighty Tin	of 132070

Sam, No, these have no relationship to Reg S. Investment Companies have an entirely different set of regs. I would forbid rights offerings that were not done for free, or with all costs eaten by the manager. That would eliminate them, but show the rip off impact. Or, make each offering be voted on by shareholders ahead of time. That would be fair. I don't see why a CE fund should have a rights offering. If it is performing well, you can issue a clone, as H&Q did. If it is not performing well, then priority one should be enhancing performance, not diluting any gains or making any losses worse. MB

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