Voip Pal Com Inc (VPLM)

[GTCar]

You are right, the lock up is between VPLM and Malak. Remember that no one else can stop Malak from selling his shares.

Let me say it this way, all hypothetical of course and of my opinion...

Orange PLC comes in with an offer to buy VPLM, they have done nothing in regards to approaching the major shareholders (Malak). Microsoft has a real itch to get their hands on this but their attempts have not been received so well, (low bid, unusual terms who knows.) Microsoft does not want to lose this opportunity, they know that Malak is the major shareholder and approach him on the side, I suppose the conversation goes like this

"Hello, this is Emil speaking"

"Hi, Mr. Malak, this is Bill Gates, would you sell me your controlling shares of VPLM for $3 per share, that is a premium to the $2.75 offer they have received from Orange"

"Emil, heck ya, that's like $87.5 million, that totally makes up for the lawsuit against Cameron I dropped."

end conversation except, now Orange finds out that they will have a hard time getting support for their bid, they read this board and know that the majority of the shareholders want an average of $5 per share. The next conversation goes like this

"Hi, Dr. Sawyer, this is the CEO of Orange. We made you an offer to purchase your company and now you cannot guarantee us a positive vote in favor therefore, please with all due respect, pound it!" CLICK>

VPLM has locked up Emil because there was a chance of some back door action ;), or the acquiring company demanded it...

I hope this reads better than Wiki, he can be anal at times.