Therefore, Crown has today resolved to make a
distribution in specie to its shareholders on the register as at 23 December
2004 of 1 Crown Pharma share and 1 Crown Development share for every common
share held in Crown,
The 71m shares paid to Crown Pharmaceutcals would have been distributed amongst the original Crown Corp holders proportionate to their original holding. Rybak might say that he counted the shares he held in Crown Pharmaceuticals amongst his other shares and thus declared them as such. I don't know whether it's possible for him to do that though! In any event he has probably been dumping the shares he held in Crown pharmaceuticals throughout the summer in secret, and in fact he has probably dumped the lot!