Trinity Biotech (TRIBY) Message Board

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Biotech / Medical : Trinity Biotech (TRIBY)

TRIB 0.830

-17.5%

3:59 PM EST

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To: Art Baer who wrote (3251)	12/6/1996 10:34:00 AM
From: Steve Stuart	of 14328

Art- The SLF stuff was all hashed out in gory detail back in September. See post #2137 for some of the info. In a nutshell: Selfcare gave Enviromed some SLF shares in 1994 as part of a joint venture. Enviromed was supposed to pay some of the expenses of the joint venture, and Selfcare claims they didn't. So Selfcare demanded the shares back. Enviromed didn't give them back, claiming that Selfcare was violating some terms of the agreement. Enviromed had registration rights on the SLF shares, but wasn't offered an opportunity to register them for sale in SLF's IPO. Selfcare is suing Enviromed to get the shares back. Enviromed is suing Selfcare to prove they own the shares and because of the breach of registration rights. Selfcare has bought up at least 27% of Enviromed, trying to replace management. Enviromed sold the Selfcare shares to Trinity. Possibly because they needed cash? Possibly to avoid being bought up by Selfcare? Note that only 600k of the 800k shares that Trinity owns are subject to this lawsuit. -Steve Stuart

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