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Gold/Mining/Energy : Winspear Resources

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To: brian krause who wrote (18023)	4/10/1999 2:23:00 PM
From: teevee	Read Replies (5) of 26850

Brian, Huh???? I am not against the stock split and diamondex....now that I have read the information circular, I am against item#7-the stock option plan where the company wants approval to increase the options from 4.5 million to 6.0 million shares(management/director's and anyone who could benefit from the resolution can't vote on this)....what might be the reasons for this item on the agenda? 1. Management is simply greedy? 2. They contemplate a further 25% dilution in the company to 60 million shares outstanding from the current 48 million fully diluted(the increase in stock options is 25% of the requested amount asked to be approved), and want approvals in advance.....? 3. Management needs absolute control of an additional 1.5 million shares to thwart any hostile takeover attempt? that's my thinking on this issue for now.... regards, teevee

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