To: southbound who wrote (24391 ) 10/14/1999 4:36:00 PM From: Greg Jung Respond to of 27722
fyi, I saw references to tender offer and looked up the offer terms: As it is stated, this is an interesting way of simply stealing stockholder rights. If it isn't illegal, it should be: 1) no assurances whatsoever are given that tendered shares will be bought, or even that the stated allotment would be bought if over-subscribed. 2) Once tendered, you are left at mercy of Growth Capital for regaining possession of shares. In essence, if you tender, you grant them an open-ended option for no reimbursement. Read it yourself: TERMS AND CONDITIONS: 1. Purchaser expressly reserves the right, in its sole discretion, to purchase as many Shares (up to 1,100,000) or as few Shares as it deems advisable, and to select which tendered shares it accepts or rejects regardless of the date tendered. 2. Payment for the Shares accepted pursuant to the Offer will be made by the Purchaser upon acceptance. Under no circumstances will interest be paid on the purchase price of the Shares. 3. Shares not accepted for purchase will be returned after the final Expiration of this Offer to Purchase for any extension thereof. 4. Tenders of Shares made pursuant to the Offer are irrevocable even in the event that the offer is extended. 5. Purchaser expressly reserves the right, in its sole discretion, to extend the expiration of the offer under these same terms and conditions. These terms, if enforceable, are a blatant attempt to rip off unsuspecting dimwit holders. There is no reason to believe that such a tender should give support to the stock. It was made only to fish for free shares in the event NETR went ballistic.