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Technology Stocks : Creative Labs (CREAF) -- Ignore unavailable to you. Want to Upgrade?

To: Dennis G. who wrote (12418)	10/11/1998 12:25:00 AM
From: Flint	Respond to of 13925

Shareholder approval still needed for some things Presumably, the Nov 6 vote is required because the sharebuyback will result in a change in the capital structure. Under Singapore Law, that requires shareholders approval. Not sure if it needs 2/3rds or 75% approval tho'. But if u r a shareholder, I hope u send in ur proxies early. As for whether approval shld hv been last yr or not, that's moot. Early is better than late. But then u'd have allowed management to buy back at higher levels and it would not have been good for long term ( albeit suffering 8-) ) shareholders. The 10% limit is interesting. I'm not sure if that limit is going to be in the bill going to the Singapore parliament or not. It may just be convention... after all, most AGMs include a vote to allow management to increase share capital by up to 10% (placement or rights... thereby limits possible dilution to 10% new shares)in Singapore. The reverse by limiting the buy-back to 10% does seem fair in a strange abtruse way. Anyway, I don't see the rush in buying back shares. If Creative can keep building its cash pile and give the signal that they'll be buynig back consistently over time, its share price SHOULD react positively on a SUSTAINED basis. That's what we are all after ... right ? [ oops... forgot about those option traders] Any Warren Buffet types holding this stock ?