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Gold/Mining/Energy : Repap (RPAPF)
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To: Dennis Latchum who wrote (326)1/10/1999 11:10:00 AM
From: pthomaso   of 485
 
That's a reference to the orgy of options given to the top few mgrs (most to the CEO) that are exercisable at 14 cents. My recollection is about 50,000,000 shares, issued a year ago when the stock price was about double that level. A steady plunge ensued down to, and through, the strike price. Repap has been well below it ever since.

The dilution of stockholder equity at that point was a terrible decision at a delicate moment for the company's recovery from one of Canada's all-time record equity destructions(well above 95%).

That Board give away was clearly not in the interest of the company, its workers, or its stockholders. Views to the contrary are welcome, but where I come from losing teams are rebuilt, not rewarded.
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