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Gold/Mining/Energy : T.ITE: iTech Capital (TSE) -- Ignore unavailable to you. Want to Upgrade?

To: Condor who wrote (482)	5/24/1999 7:06:00 PM
From: keith massey	Read Replies (2) \| Respond to of 5053

JDX updated their web page... jordex.com From the site Excerpt From The Chairman's Introductory Speech At The Annual Meeting, April 19, 1999 "Last year we announced a change in our business direction. Since that time, we have established a clear criteria or filter to a business selection process weighted toward the field of technology. Without going into specifics, this criteria emphasized a strong business model with fast growth. We have been successful in identifying potential business targets and have engaged in various levels of discussion and negotiation. We are ever mindful of shareholder value and will use this mindset to drive future discussions to a successful conclusion". Letter to Shareholders February 19, 1999 In the last six months, we have examined numerous businesses including biotech, internet, and computer related technology companies...... Jordex believes it can participate in the new-era economy. We have formulated strong acquisition criteria for our search; a management team with a successful track record, a high growth business with high gross margins, a proprietary process or product together with a business plan with a high probability of profitability in sight. The Company's main asset, capital, will be used to speed the growth of an acquired business. In addition, our public listing allows a company access to capital as well as liquidity. Jordex shares currently trade on the TSE, however we have committed to take the appropriate steps that will lead to a US registration filing this year, which will be the first step in providing greater visibility for your Company. We are often asked, "how long will it take for Jordex to reinvent itself?" Although we are anxious to establish our new identity, it is difficult to speculate on the timing. It is important that we be as confident as possible of success in our selection, ultimately limiting risk while capturing the most reward for you, our shareholders. Another frequently asked question is, "would Jordex consider a technology business?" Although there may be excesses in current stock valuations, we believe that technology offers significant growth potential and we would certainly like to participate if we found a feasible opportunity. While information age technology has driven the economic expansion and will continue to for the foreseeable future, and we will surely evaluate opportunities within this fast growing segment, we will also consider high growth, high margin, well managed businesses outside the technology arena. In summary, we are optimistic about the future for Jordex. We are confident that we have reinforced the Board with the intellectual capital that will enable us to successfully direct our working capital. The new board members have not only committed their talents to reshaping the Company's future, but have also committed their individual capital through the purchase of shares, more than doubling the ownership of Jordex shares held now by Directors as compared to a year ago. As we embark on this journey of opportunity together, we look forward in the coming months to reporting to you any meaningful developments from our efforts to redefine the business direction of Jordex. Best Regards KEITH