Harken Energy Corporation (HEC) Message Board

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Gold/Mining/Energy : Harken Energy Corporation (HEC)

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To: Ed Ajootian who wrote (3000)	6/3/1998 9:30:00 PM
From: Gator II	Read Replies (1) of 5504

HEC news on Dow Jones Newswire (YAHOO post suggests a "crack in armor"): Dow Jones Newswires -- June 3, 1998 Rayback Will Vote Against Harken Energy Adding Shares NEW YORK (Dow Jones)--Rayback Management Corp., which runs all eight Lindner Funds, said Wednesday it plans to vote its 8.7% stake in Harken Energy Corp. (HEC) against the company's proposal to add another 50 million shares of common stock. In a press release, the St. Louis firm said it believes Harken's shares are undervalued and "authorization of additional shares in the current market environment and stock trading range would only further dilute the value of the shares already owned by current holders." Dallas-based Harken, which explores for, develops and produces oil and gas reserves, has proposed increasing the number of shares in its common stock to 225 million from 175 million at its June 15 annual meeting. The eight Lindner funds have combined assets of $3 billion.

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