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Gold/Mining/Energy : EMR Microwave Technology (EMW.A) -- Ignore unavailable to you. Want to Upgrade?

To: ddl who wrote (378)	11/25/2000 10:29:08 AM
From: BAKE	Read Replies (1) \| Respond to of 397

Annual Meeting December 18, 2000. The Annual General meeting will be held here in Fredericton, New Brunswick. The 'Saint John Room' at the Lord Beaverbrook Hotel. 659 Queen st., Fredericton, N.B. 10:00 am (AST). Everyone should have received their 'voting packages' and the 'management information circular'. For your vote to count,Everyone must fill out their voting cards and mail them in. (Overall I find it quite confusing). There is one proposal which will cause some controversy. 5 years ago, there was a "performance agreement" which stated that certain 'Insiders' would receive shares in the company. They would receive these shares if the company had a certain amount of positive cash flow within 5 years(I think it was $500,000). This performance agreement expired in Dec.,1999 because the company did not have any positive cash flow. This proposal wants to extend the performance agreement for another 5 years. It has to be voted on by the "MINORITY SHAREHOLDERS", and it needs 50% plus 1 votes to pass. Minority shareholders are all shareholders of the corporation OTHER than those persons who are promoters,directors,officers, or other insiders of the corporation and associates and affiliates of all such persons. The Problem is.......... vote YES and the insiders get an extension of their agreement. That is what 'they' want, but they obviously haven't performed anything over the past 5 years.** Do they deserve this bonus? ......... vote NO and they don't get their bonus agreement. But will this make them pissed off and they will sit back on their butts and do nothing for the company? TOUGH CALL to make. I think there will be many ANGRY shareholders at the meeting unless they pull a contract out of their magic hat in the next few weeks. I think that they are close to a big Flyash contract and possibly a copper contract. Gold is likely on the backburner for now because of the poor,poor market conditions and low gold price. Flyash may be our savior in the near future. Gary.