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

To: the Chief who wrote (1867)	5/11/1999 9:00:00 AM
From: Jim P	Respond to of 6016

Globe says Global Thermoelectric adopts poison pill Global Thermoelectric Inc GLE Shares issued 20,376,350 May 10 close $8.25 Tue 11 May 99 In the News The Globe and Mail reports in its Tuesday, May 11, edition that Global Thermoelectric's board has adopted a shareholder rights plan similar to those recently adopted by other Canadian companies. The Globe's Investment News column reports that the fuel cell maker says the plan is subject to shareholder approval. It says neither it nor its board are aware of or anticipate a takeover bid. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com

To: the Chief who wrote (1867)	5/11/1999 9:27:00 AM
From: VisionsOfSugarplums	Read Replies (1) \| Respond to of 6016

Hi, Chief. I agree, we are ultimately saying the same thing. (And that $2 in my example is ludicrous). If someone were to start a hostile takeover, the shareholders would see the bid whether or not the Board approved it. GLE's transfer agent would have to provide a shareholders list and the bidder would mail the offer to them, bypassing the board after initial rejection. The rights plan makes ignoring the GLE board very unlikely, although it is still possible to do. It's even more difficult if the Board operates very closely (no dissension amongst the ranks). In the end, if an offer were to occur and it were not "fair", it would probably not be successful. How you define "fair", though, is always open to interpretation and it's amazing how the people factor and politics influences this process (say some members who control a large number of shares consider an offer fair whereas others, such as the founders, don't). Anyways, at the end, I do agree with you but just wanted to raise the point. Your post makes sense and would be the most likely should an offer occur, but there is always a remote possibility of something different (IMHO). Regards, t.