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Gold/Mining/Energy : Winspear Resources -- Ignore unavailable to you. Want to Upgrade?

To: Andrew who wrote (18838)	4/30/1999 7:50:00 PM
From: .Trev	Respond to of 26850

You're absolutely right. When a company reaches this stage it's typical for a substantial changeover in type and category of shareholder, and I agree that's due any time. The thing that always amazes me is how suddenly the action seems to go into slow motion when you know what's going on and can't understand why everyone else can't see it coming. Don't know if you've seen to-day's daily report from Randy?? Winspear shareholders approve restructuring plan Winspear Resources Ltd WSP Shares issued 39,238,388 Apr 29 close $3.94 Fri 30 Apr 99 News Release Mr. Randy Turner reports At the company's annual and extraordinary general meeting held on April 29, 1999, among other things, a special resolution with respect to a plan of arrangement under the Company Act (British Columbia) was passed by 98.48 per cent of the votes cast at the meeting. The arrangement involves a restructuring of the company that would have the effect of transferring all of the company's less developed properties to a separate company called Diamondex Resources Ltd. Under the arrangement, each holder of shares of Winspear will, upon completion of the transaction, hold shares of new Winspear, which will continue to hold the Camsell Lake property and which will retain the name Winspear Resources Ltd., and shares of Diamondex, which will hold all of Winspear's current exploration properties. The Vancouver Stock Exchange will continue to list the shares of new Winspear and has conditionally approved the listing of the shares of Diamondex. The arrangement is contingent upon, among other things, receipt of the approval of the Supreme Court of British Columbia. The hearing in respect of the final order is scheduled to take place in the Supreme Court on or about May 7, 1999. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com