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Non-Tech : Cable Car Beverage (DRNK)
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To: hoopsville who wrote (270)11/5/1997 12:59:00 PM
From: Anthony L. Califano  Read Replies (1) of 284
 
I sent an e-mail to Cable Car regarding the stock prices on p. 20 of the Proxy Material giving them a chance to respond prior to contacting the SEC. I was promptly referred to DRNK's outside counsel, and spoke with an attorney. He explained the prices represent CLOSING bid prices which is not made clear in the proxy material. Therefore, intraday prices are were not considered. Thus the intraday high of 4.50 on 6\6\97 was never considered.

Accordingly, to correct the discrepancy he noted that supplemental proxy material will be sent shortly outlining and clarifying in more detail high and low prices. I don't know if this will help, but it is better than nothing. Those that wish to change their votes may do so up until the time of the shareholder meeting on 11/25 via filling out another card or sending a letter.

The attorney also noted 3rd quarter earnings info should be released shortly (within a week or so).

While I realize that TRY's price is presently in the 24 range, I still believe Cable Car is worth much more than the 4.22 highest takeout price we might receive.

If I do not receive any additional proxy information shortly, I guess I will contact the SEC.

Best case would be a white knight would step in and sweeten the deal considerably, but what are the chances of that happening?

Anthony
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