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Technology Stocks : Learmonth & Burchett Management Sys. - LBMSY -- Ignore unavailable to you. Want to Upgrade?

To: Midas who wrote (76)	3/27/1998 4:36:00 AM
From: Midas	Read Replies (1) \| Respond to of 81

Have now seen the offer document and the deal is due to close on April 20th. However I strongly recommend all LBMS shareholders to vote against the deal. Reasons are: 1. The price offered is not good enough based on the recent financial figures of LBMS and future prospects. It doesn't match comparable valuations of similar software companies and the management provide no strategic reasons why they we need to sell out now. 2. I am not convinced that PLAT is a sound company, with operating losses in recent years, anti-takeover provisions in its shareholding structure, etc. 3. Also it appears that LBMS management have agreed to pay PLAT $2mill if the LBMS shareholders vote against the deal. I don't like having my decisions pre-empted by management. My conclusion is that this deal is more favorable to LBMS management than it is to shareholders. Vote against now!