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Non-Tech : Sungold Gaming International (SGGNF) -- Ignore unavailable to you. Want to Upgrade?

To: Carol Barnes who wrote (3195)	2/21/1999 12:37:00 AM
From: John Lawrence	Read Replies (1) \| Respond to of 5164

AGM A brief summary. I found that the AGM was a meaty, satisfying event. I won't go over the details here, but management was asked some tough questions by some very well-informed shareholders. There were some concerns about whether directors had been selling shares, but the answer was clearly that there has been no selling, and some of the directors have purchased private placements at higher than market prices. One shareholder was asking about the options repricing, but the directors argued that it is appropriate that they remain motivated, especially since they have provided the only money to the treasury, at higher than market prices. There was wide agreement about the value of the contributions the directors have made, and that all shareholders benefit when they remain motivated. Some of the highlights for me included meeting Tim Gladieux, and Russ Murata. These are both men with long histories of successful business experience and will make substantial contributions to the company. I also enjoyed them as people. It was fascinating to meet shareholders from across Canada, Chicago, and the U.S. west coast, and there were lots of people I didn't get to meet. In terms of recent developments, of course the big item was the press release. I talked about that in #3194. Suffice it to say that it's clear to me that management is leaving no stones unturned in it's efforts to protect the company's interests. A team of lawyers is hard at work. We are awaiting developments with Interport which should come about soon. Political forces are building which should ensure the success of Richmond Downs. Don Harris reconfirmed that TAC Investments will be there to provide the money for the land. The company is hoping that the 20F will be published on Edgar very soon, and that the Nasdaq okay for e-trading on the the OTC-BB will soon follow. As for what really happened at the meeting? I had a great time meeting other shareholders and the directors. I'm really impressed with the sophistication shown by shareholders and their support for management's fierce determination to succeed. While the company has faced some challenges over the past year or two, my impression is that the management team has grown stronger and will prevail over the obstacles that remain.