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Gold/Mining/Energy : Channel Resources (CHU T)
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To: Bobby Yellin who wrote (14)7/2/1998 11:30:00 PM
From: John Stokes  Read Replies (2) of 29
 
Solomon has 26% of CHU shares. They have agreed to the takeover and will surrender their shares 1 EET for 4.5 CHU shares if EET gets 51% of CHU shares and I assume that is inclusive of their 26%. The problem
I see here is the EET friendly group in TO that already owns 8 million shares of CHU combined with the Solomon 26% or 7 million shares =
15 million shares and that is an automatic buy out like it or not as this exceeds the 51% of CHU. I have not yet received any circular from CHU! Have you? We have to be under the impression that Solomon is in
favour of this takeover and that needs to be given some consideration.
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