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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: Richard Mazzarella who wrote (18159)	3/24/1999 5:29:00 PM
From: Ruthie	Read Replies (1) of 20681

Anyone - I have six or seven proxies forwarded by my brokers and one proxy sent by Fr. Gregory. I also received the Naxos announcement that the dissident's special meeting is invalid. My question is - Is the dissident's meeting cancelled by this announcement? Inasmuch as the proxies sent by my brokers were from reputable brokerage houses (Fidelity and Vanguard), how were the dissidents able to call a meeting without the approval of the current board of directors? I thought it took 5% of the shareholders to call a Special Meeting and, if I read the proxy right, the only 5%+ shareholder is the Trustee for the Jimmy John Family Trust. Does this mean that JJ is behind this? Did he purchase the shares held in the trust from the money we lent him? Has he ever paid it back? The last I heard was that we were suing him for the money unpaid. I really don't understand what these dissidents have to gain? It appears that they are willing to trash the company, but in the meantime they are trashing their own investments. My concern is that this proxy somehow or other will be valid and we will in effect allow them to take control because of inactivity on our part. Will the brokerage houses send a cancellation notice? I would appreciate any comments on the above. I seldom post but read all the posts on SI religiously. Thanks in advance.

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