Response to widespread Rumor sale of Company

Response to widespread Rumor sale of Company

From Executive Office, Human Resources, or department head to employees

(NOTE: Check with your legal department or investor relations department before sending a letter of this type.)

A small item in this morning’s Lumber town Gazette has caused some concern amongst employees about a possible sale of the company.

Although it is not our usual practice to respond to rumors, we do feel it necessary to make an exception in this case: The article is incorrect, and we have no plans to make any substantial changes to the ownership or operation of the company.

The article notes than an outside investor has increased its ownership of shares in the is correct, and we always welcome investments; our share price has risen by 5 percent in the past several company. That months, which is a benefit to all investors.

However, even with this new investment, no single outside entity will own more than about 8 per cent of the shares of the company. The biggest single owner of shares in Consolidated Intergalactic will continue to be employees and executives who participate in our ESOP (employee stock ownership pro gram). These shares currently represent about 62 percent of the investment in the company  and that pro portion is likely to increase over time.