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Strategies & Market Trends : Trader J's Inner Circle -- Ignore unavailable to you. Want to Upgrade?

To: .com who wrote (5432)	1/24/1999 5:11:00 PM
From: Gordon Gekko	Read Replies (1) \| Respond to of 56535

Scott, The 84.9% refers to the voting power that TNO will have after the IPO and not the percent of ownership. After the offering, True North will own all of the outstanding shares of our Class B common stock and will control 84.9% of our voting power. Class A common stock offered - 2,600,000 shares Total Class A common stock - 5,023,831 shares Class B common stock - 5,648,624 shares Total - 10,672,455 shares Voting rights: Class A common stock - One vote per share Class B common stock - Five votes per share My 12.4% figure is still good. It will add $1.38 to $1.63 to the price of TNO if this ratio remains constant. GG