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Gold/Mining/Energy : Arcon Energy (MIDL Presently) The Ultimate Sleeper
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To: Kurt N who wrote (2954)6/9/1998 2:25:00 PM
From: Shawn Springer  Read Replies (1) of 4142
 
It may be that Arcon will not have to come up with the money to buy-out Dan Fisher. The news release mentions a casulty insurer that would be buying the shares. It is not uncommon for businesses to purchase "Key-Man" insurance which pays out if the key person leaves the company. His employment agreement may have stipulated that he had to remain with the company to get the shares. Just speculation, but it would explain the insurer being involved with the re-purchase.
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