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Technology Stocks : SMSC Standard Microsystems
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To: Robert Salasidis who wrote (60)11/13/1996 9:52:00 PM
From: Dan Brousseau   of 335
 
To All:

There might be a very good way for us shareholders to enhance the value of OUR company and I do mean OUR company . If you scrutinize the shareholder structure of the company something interesting comes to light. What you'll find is that Directors /Officers of OUR company only own 3.3% of the outstanding common. The other 96.7% of the shares are widely held by shareholders like ourselves, who had one motive when we purchased our stock and that was to make a profit. Now one has to ask oneself if we the shareholders have any other options to enhance the value of our investment?

Option #1. Replace the existing CEO and management with another more competent team , a management team more able to compete with 3Com,Intel and Cabletron.

Option #2. Let"s face it, Cabeltron paid us $77 Million for a part of the systems products division that only represented 5% of Revenue and was losing $4 Million a year. I dare say, if all us shareholders got together and say, approached 3Com or Cabletron they might be very well interested in buying the whole damned company . May I be so bold to suggest a starting bid of lets say $20.00 /share. Such a buyout offer would only represent a market cap of approx. $275 Million, which would be only a ratio of .7 to sales, a very reasonable expectation. Furthermore there would be some real synergies. 3Com/Cabeltron being involved in similar businesses could fire SMC's complete management team and really save money.

Is there anyone else out there that shares the same frustration that I do. I think it is high time that management realize who they are working for and that we want something done to enhance our stock performance !
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