To: +Peter K. (0 )
From: +alan holman
Wednesday, Sep 16 1998 12:28PM ET
Reply # of 269
To: +alan holman (0 )
From: +alan holman
Wednesday, Sep 16 1998 12:24PM ET
Reply # of 961
PricewaterhouseCoopers Inc., as Interim Receiver and Manager of
Bresea Resources Ltd., (the \ldblquote Receiver\rdblquote ) has
recommended to the Alberta Court of Queen\rquote
s Bench the establishment of an advisory board representing the
interests of Bresea shareholders. The pur
pose of the advisory board is to provide input from Bresea
shareholders to the Receiver in connection with the governance
and affairs of Bresea and possible settlement discussions in
connection with the current and potential claims
and litigation by and against Bresea. The Receiver has advised the
Alberta Court of Queen\rquote s Bench that it will propose a slate
of candidates for the Bresea advisory board in a motion to be
heard by the court on September 25, 1998.
The Receiver is seeking current substantial shareholders of Bresea
who have an interest in joining, or appointing representatives to
join, the proposed Bresea advisory board. It will be the
recommendation of the Receiver that candidates for the Bresea adv
isory board have or represent a minimum holding of 100,000
shares in Bresea, have significant business experience, and that
they not be a party, nor a representative of a party, to any contested
action or proceeding by or against Bresea.
The establishment of the proposed advisory board will be at the
discretion of the Alberta Court of Queen\rquote
s Bench, as will the manner in which candidates are selected and
the terms upon which individuals will join the proposed advisory
board. The Receiver will be recommending, however, that
members
of the proposed advisory board will enter into confidentiality
agreements regarding information which may be disclosed to them,
that they be given a limited indemnity against claims, and that
travel and out of pocket expenses be reimbursed. The Receiver
will be recommending that no remuneration be paid to advisory
board members.
Interested, qualified candidates should provide a brief resume of
their business experience, a description of the history and current
status of their Bresea shareholdings or of th
e shareholding of the party they represent, and a statement
confirming that neither they nor any party they may represent is a
party to any contested action by or against Bresea, by September
23{\super rd}, 1998.
Information should be sent to:
PricewaterhouseCoopers, Inc.
1200, 425 First Street S.W.
Calgary, Alberta T2P 3V7
Attention: S.L. Shabluk
email: susan.l.shabluk@ca.pwcglobal.com
fax: (403) 267-5975
Questions should be directed to Susan L. Shabluk at (403)
267-1224 |
