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Gold/Mining/Energy : GPW Group West Systems Ltd. (Year 2000 Software Company)
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To: Yoav Chudnoff who wrote (605)5/1/1998 2:42:00 PM
From: Bernard Elbaum  Read Replies (1) of 1443
 
Could someone translate the latest Group West press release into plain English? As far as I can tell, it is just an option-like arrangement. If Trooper earns the requisite net of over $2 in the three indicated years, then the vendors--top Group West management--agree to sell shares at $4.10 to the company. Since Group West stock price should be over $4.10 with this sort of net, the selling price is a bargain. But it locks in a $2 million dollar payment to management contingent upon performance.

Is my reading correct?
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