EX-3
from 8-K
1 page
115 Mount Grace Road Potters Bar Herts En6 1qy the Board of Directors Management Technologies, Inc. 630 Third Avenue New York Ny 10017 United States of America by Fax and by Mail. for the Attention of Mr. Peter Svennilson Chairman Gentlemen, It Is My Best Belief That, the Latest Planned Investment by the Richbell Group Having Become Materially Less Likely to Take Place, the Mti Subsidiaries in the Uk Are Trading Without Reasonable Certainty That There Will Be Funds Available to Meet Their Obligations as They Fall Due. I Understand That the Board Was So Advised Last Night by Keith Williams and Stefan Weber. My Understanding Is That These Circumstances Constitute Wrongful Trading Under Uk Law. I Am Convinced That the Group Cannot Survive Without Immediate Substantial Injections of Working Capital and I Have No Confidence That Such Sums Will Be Forthcoming. Despite the Terms of Mr. Svennilson's Recent Letter to Me, I Have Received No Information From the Board as to the Progress of Funding Initiatives. I Have to Assume That the Board Does Not Wish Me to Have Such Information and Under Those Circumstances, My Position as Chief Financial Officer and as Manager of the Company Becomes Untenable. This Letter Is Therefore My Immediate Formal Resignation From All Positions I Hold With Management Technologies, Inc. and All Its Subsidiaries. Under the Terms of My Contract With the Company I Have to Give Three Months Notice of Termination of My Contract. This Letter Constitutes Such Notice. Yours Faithfully, /S/ Nigel Cole
12/34/56
EX-3
from 8-K
1 page
F I N M a N a G E M E N T S a Financial Services and Asset Management Management Technologies Inc. 335 Madison Avenue New York, Ny 10007 Fax: 212-557-69 67 Lugano, May 03, 1995 Re: P.N. 8% Mti, 1994-96 Dear Sirs, This Is to Notify You Our Decision to Convert US$730,000 - In Principal Plus Accrued Interest Effective April 30, 1995 on the Principal to the Date of the Conversion. Yours Sincerely, Finmanagement SA /S/G.A. Botteon G.A. Botteon via Zurigo 5 Ch-6900 Lugano Tel.091 23 93 12 Fax 091 23 93 15 Telex 84 00 82
12/34/56
