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Gold/Mining/Energy : IMARK Corporation (IAK was Durkin Hayes DHP)
IAK 70.79-0.1%Nov 15 4:00 PM EST

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To: Adam who wrote (19)3/21/1998 8:28:00 AM
From: Pierre J. LeBel   of 57
 
Good morning Adam,

I see that you get up pretty early for a Saturday morning! Thank you for the information about Excel. As you can appreciate from previous posts, we already knew about the price of .67 which was negotiated when the shares of DHP were trading in the .30 area. I suspect that the owners of Excel are pretty happy so far with the market reaction since DHP has been trading upward since the announcement.

Assuming that a group spending millions of dollars buying 20% of a public company at more than double the market price is not totally crazy, I would suspect that they have plans to acquire more shares eventually or, alternatively, prepare a takeover for all outstanding shares which, by law, must be at no less than .67 per share.

On the other hand, I am very curious about a "...multi-million dollar law suit that is currently against DHP." Could you give us some details please. Could Excel Financial Service be unaware of the lawsuit at time of closing the sale?

Another point of interest is the reaction of the staff and management at DHP. How do they feel towards their new minority owners?

Thanks again and have a very nice day.

Pierre
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