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Gold/Mining/Energy : Valu-Net Corp (VNE on ASE - was Faymar)
VNE 36.950.0%Apr 1 5:00 PM EST
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To: Nabil Karam who wrote (205)3/31/1998 3:34:00 AM
From: Postman  Read Replies (1) of 974
 
Here is info I received from a company source:

Re the ownership of management:
The breakdown looks like this -

____

Management
owns about 78% of
the shares in total, which fully diluted equal 24.4
million shares. Of these, the FLOAT is actually 4.9 million, BUT of these,
2.1 million actually trade in the market.
___

The other 2.8 million are in
friendly hands.
____
A further 2.7 million are released over time at the rate of
1/3 each in Nov 1998, 1999 and 2000. Another 10.5 million shares are
subject to PERFORMANCE GUIDELINES as imposed by the ASE.

___
Additionally,
there are 4 million shares under POOLING and LEGEND AGREEMENTS which
ensure the Corporation has CONTROL over these shares.
___
Finally, there are 2.15 million options outstanding at present.
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