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Microcap & Penny Stocks : Dominion Bridge Corp. (DBCO) -- Ignore unavailable to you. Want to Upgrade?


To: david james who wrote (442)2/17/1998 9:41:00 PM
From: Chien Li  Respond to of 535
 
In the Feb. 13 announcement, ECGOF accused DBCO management of withdrawing the applications for new shares to the Vancouver Stock Exchange. Based on that, it seems unlikely that the new shares were for ECGOF. Besides, $1.5/share at that point was too low. Sanda would get two seats on the board. I can't imagine that they want to risk their money and keep the old management around. One of the FP news mentioned that one condition for the Sanda placement is the resignation of Michel. I don't know if that's true.

Chien Li



To: david james who wrote (442)2/17/1998 11:35:00 PM
From: Chien Li  Read Replies (1) | Respond to of 535
 
Another possible explanation for the new shares is that they were issued to pay some one to leave.

Chien Li



To: david james who wrote (442)2/18/1998 11:32:00 PM
From: Chien Li  Respond to of 535
 
I've been wondering why Sanda would pay ~$0.6 above the market price, and trust their $16-20 mil to the current management. The Feb. 2(?) Financial Post news said that Sanda would get two seats on the board. What if their people also take over the CEO or COO spot? That would worth the extra $3.6 mil they put in (0.6 x 6 mil shares). IF this is happening, then the chance of selling DBCO to ECGOF would be quite small.

Chien Li