On 11 sept 1997, Clyde Turney presented an offer to Kingsland shareholders on behalf of his client. He did not identify his client.

Here is Page 1, followed by Page 2 of Clyde Turney’s letter stating the offer.

Mrs. Knox’s Reply - Questions Never Answered

Madge Knox asked for clarification of why the directors were recommending this offer, but she never received a reply. Basically her opinion could be summarized by something like this:
“OK, you want me to accept this lowball offer. Now explain to me why this is a good offer. I am especially interested in why you are undervaluing the assets, especially in the light of the fact that you have not produced any valuations. With no statements as to the financial status of the company, I need an explanation.”

Click on the box below to enlarge and read the first page of the reply:

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