American Eco (ECGOF, ECX on Toronto exchange) Message Board

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Gold/Mining/Energy : American Eco (ECGOF, ECX on Toronto exchange)

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To: david james who wrote (2351)	4/10/1998 1:16:00 AM
From: WTMHouston	of 2841

This press release is about as poorly written as it gets.... Taken literally, only those shares "issued" after 4-19 will have a right attached. What about everyone that already has shares? If the rights attach to all outstanding shares after 4-19, the anyone who acquires shares will have the rights as well....any increase for everyone, will give the acquirer just as many proportional rights... If it means rights for additional common shares without a payment price, there will just be pure dilution, which will affect the offer price. The 10 days after part is easy to get around: announce the offer effective 15 days later...when the rights kick in in 10 days, withdraw the offer and cut the price in half to allow for twice as many shares.. If it means rights to buy more shares, the same theory applies. Now, I would hope that all of these scenarios aren't likely and that the details would make them meaningless....but, as the press release is poorly worded, how is anyone to know... I like ECGOF, but this is, as someone else has said, pretty lame. Troy

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