Lidak Pharm. [LDAKA] Message Board

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Biotech / Medical : Lidak Pharm. [LDAKA]

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To: Roland Chen who wrote (876)	1/22/1998 11:23:00 AM
From: MCorbley	Read Replies (1) of 1115

Voting Rights: HealthMed appears to be getting the voting rights to 3.339 million shares of Class A and a maximum of 609,000 shares of Class B (5 votes per share) from Katz plus 217,000 shares of Class A from MBI. The figure for the Class B comes from the shares owned by Katz and the shares on which he has options, although it appears that at least 163,000 shares of B convert to A upon establishment of the voting trust. But just for the sake of argument, assume that there are 609,000 shares of B at 5 votes per share. They say that there are 38 million shares outstanding. By my calculations, this comes out to about 17% of the voting power (maximum) controlled by HealthMed. How would this give HealthMed control of the company? P.S. Katz and MBI got $4.04 per share.

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