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Gold/Mining/Energy : Naxos Resources (NAXOF) -- Ignore unavailable to you. Want to Upgrade?

To: Neal davidson who wrote (18264)	3/29/1999 8:56:00 PM
From: Laser	Read Replies (1) \| Respond to of 20681

....and the plot thickens: Naxos Resources Ltd - Naxos dissidents backed by two of Jimmy John's allies Naxos Resources Ltd NAXOF Shares issued 30,409,574 1899-12-30 close $0 Monday Mar 29 1999 by Brent Mudry While controversial stock promoter Jimmy John has not yet officially backed a dissident shareholders' movement, the group already has the support of two old-guard followers. A Naxos petition filed in the Supreme Court of British Columbia on Thursday notes that Naxos former director Anthony Moilliet and Anne John, the securities violator's wife, are backing the dissident proxy fight. In court-filed proxy letters dated Nov. 30, 1998, the pair pledge their support of the dissident slate. Mr. Moilliet, who holds 252,900 shares, served on Mr. John's board as a Naxos director in 1993 and from April 1995 until December 1998. Ms. John holds 120,000 shares. The dissidents, including Mr. Moilliet, sent their first letter to Naxos's board on Dec. 1, 1998, just before Mr. John's loyal directors, including Vancouver lawyer Sid Kemp and accountant Ian Gordon, resigned. The leader of the dissident movement, Father Gregory Ofiesh of St. Nicholas Orthodox Church in San Francisco, is described as a Naxos shareholder who has followed the company's development "closely for the past seven years." The company's new board has set an annual meeting for April 30, and is fighting the dissidents' April 15 date for a special meeting. On the sidelines, at least officially, is the company's biggest shareholder, the Jimmy John Family Trust, held by St. Michael Trust in Barbados, with 3.86 million shares, a 12.69 per cent stake. Mr. John also holds 474,800 shares directly in his own name. The dissident circular notes the beneficiaries of the trust are the Gregory John Juvenile Diabetes Foundation - United Kingdom and British Associates for Cancer Research. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com