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Gold/Mining/Energy : Global Thermoelectric - SOFC Fuel cells (GLE:TSE) -- Ignore unavailable to you. Want to Upgrade?

To: Grant MacMillan who wrote (1842)	5/10/1999 1:56:00 PM
From: speculatingvalue	Respond to of 6016

CALGARY, May 10 /CNW/ - Global Thermoelectric Inc. (TSE: GLE) today announced that its board of directors has approved and adopted a shareholders rights protection plan agreement (the ''Rights Plan'') effective May 7, 1999. The Rights Plan is subject to ratification by shareholders at the ensuing annual general meeting of the shareholders of Global Thermoelectric. The Rights Plan extends the minimum period during which a takeover bid shall remain open for acceptance to 45 days from the current statutory requirement of 21 days. Requiring a takeover bid to remain open for 45 days addresses Global Thermoelectric's concern that existing securities legislation does not allow sufficient time for shareholders and management to properly consider and explore alternatives to a takeover bid, nor does it ensure that all shareholders have an equal opportunity to benefit from any bid. The Rights Plan defines a permitted bid as a takeover bid for all Global Thermoelectric Inc. common shares that remains open for acceptance for a minimum of 45 days (with some exceptions) during which time no tendered shares may be acquired by the bidder. If more than 50% of Global Thermoelectric common shares are tendered, shareholders who have not tendered to the bid will have an additional 10 trading days to deposit their shares under the bid. Under the Rights Plan, one right is issued at no cost and attaches to each common share. The rights are not exercisable until separation time, whereupon the rights will separate from the common shares and trade independently. Separation time occurs on the eighth trading day from the earlier of i) the acquisition by a party, other than pursuant to a permitted bid, of 20% or more of outstanding and issued Global Thermoelectric common shares and ii) the date of announcement of intent to make a takeover bid other than a permitted bid. After the separation time, each right entitles the holder, on payment of a defined exercise price, to purchase Global Thermoelectric common shares with a market value equal to twice that exercise price. Neither the board of directors nor the management of Global Thermoelectric is aware of or anticipating any takeover bid. Global Thermoelectric Inc. is the world's largest supplier of thermoelectric power generation equipment for use in remote locations and produces crew compartment heaters for use in military vehicles. The Calgary-based company is also quickly becoming a world leader in the fuel cell development industry.

To: Grant MacMillan who wrote (1842)	5/10/1999 2:09:00 PM
From: shadow	Respond to of 6016

looking at a chart on the daily stochastic is at the bottom and turning up.price channel is in over sold zone. mac has turned negative.this is normally a buy indication.i find that before they will move a stock they will try and shake it down before moving it up . if this stock breaks $7.10 it will go lower.there is resistance at 10.10 and at 12.00 and at its high of 15.00.if it breaks 15.00 it should move to the 20.00-25.00 range then the support should move to the 15.00 range and resistance at it's new high.right now the stock has formed a nice wedge shape. lets see if it breaks out on the up or down side.my money is on the up side and remember pay cash that way you don't miss the money. charting my thoughts, only the shadow knows