To: Maverick who wrote (4690 ) 4/22/2001 9:51:20 PM From: Dr Mike Read Replies (1) | Respond to Mav: We are all critical of OE's management owning so few shares; many (most?) of us own more "ordinaries" than Mr Schlunke and many of his cohorts. In contrast, the Yahoo Company Profile of OE states that "insiders" own 52% of the stock. Who are these insiders? I'm embarrassed to admit that I don't know. I own a substantial stake in an overseas company, and I don't know who these insiders are. What are the relevant Aussie rules on this? If these insiders are spouses or other family members of the directors, we have little to worry about with respect to a hostile takeover, as this little group will protect their interests and incidentally (?reluctantly) protect your and my interests as well. This also may give OE many of the advantages of a closely held company. Maybe they really do know what they're doing and stoically ignore the abuse that we shareholders heap upon them because they know that they are right, have no fear of being ousted from their positions, and know that the "big one" is a matter not of if but when. (I'm starting to sound like Pierre). If this is the case, then we don't need a poison pill, we just need to hold on and have confidence that the OE family wants their yachts as much as we do. Of course Yahoo could be wrong. I don't have a convenient Annual Report to check on this.
