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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Daniel M. Whipple who wrote (12250)	2/20/1998 11:17:00 AM
From: Lazlo Pierce	Respond to of 95453

Don't know if this was posted, but Tmar put in place a stockholder rights plan. I guess they are worried about a lowball buyout at these prices. << HOUSTON, Feb. 19 /PRNewswire/ -- Trico Marine Services, Inc. (Nasdaq: TMAR) ("Trico") today announced that its Board of Directors adopted a Stockholder Rights Plan (the "Plan"). Under the Plan, Preference Stock Purchase Rights (the "Rights") will be distributed as a dividend at the rate of one Right for each share of Trico common stock held as of record as of the close of business on March 6, 1998. Thomas E. Fairley, president and chief executive officer of Trico, stated, "The Plan is designed to deter coercive or unfair takeover tactics that could prevent Trico's stockholders from participating fully in the existing value of Trico and in the creation of additional stockholder value through our long-term growth strategy, especially given the recent volatility of the U.S. equity markets and the energy services sector in particular. This Plan provides the Board with more flexibility to maximize long-term stockholder value and is an important tool the Board may use to protect Trico's stockholders from hostile actions by potential acquirers that the Board determines are not in the best interest of Trico and its stockholders. In the event of a legitimate offer to acquire Trico, the Plan will ensure that the Board will have the ability to negotiate a full and fair offer for all of our stockholders. Moreover, we believe the Plan will significantly enhance the ability of the Board to extract a higher premium from a potential acquirer." Mr. Palmer added that the Rights are not being distributed in response to any specific effort to acquire control of Trico, and that the Board is not aware of any such effort........>> Dave