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Technology Stocks : Paradigm Technology(PRDM)
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To: Sandra who wrote (247)8/29/1998 8:04:00 AM
From: Ed S  Read Replies (2) of 259
 
I also am a PRDM shareholder (unfortunately) who has nothing to do with PRDM or IXYS management or the preferred shareholders, and who thinks Gullett was a horrible CEO and greedy with the stock option repricing.

Even so, I voted YES for the merger and YES for the related proposals (the 15-to-1 reverse stock split, the increase in authorized shares and the name change to IXYS). Even though other shareholders might also be very annoyed with PRDM (as I am), they still should consider voting YES.

I made the decision to vote YES due to my belief that without the merger PRDM will go bankrupt and the common shareholders will get zero. If anything is left over it will go only to the preferred shareholders. With the merger it seems a current share of PRDM stock should be worth about $.83 or more (after the 15-to-1 reverse stock split about $12). Although this has been a horrible investment the merger is better than bankruptcy.

Like some other shareholders I also am annoyed with the amount of shares that is going to the preferred shareholders and I blame this in the poor skills of Gulett. But I don't see what we can do about it.

I voted NO to Gulett on the Board and NO to amending the stock option plan as these are not needed to have the merger.

Good luck.
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