Vote should be by original shareholders

Letter to the editor

Posted: Wednesday, July 26, 2006

Within a year, Sealaska will ask shareholders to vote on whether post-Alaska Native Claims Settlement Act dependents will be allowed to join Sealaska. It should be quite obvious to Sealaska's management that a number of post-ANCSA shareholders who will be eligible to cast ballots, if successful, will actually be voting themselves additional shares of stock because they obtained their voting stock due to gifting or the death of an original ANCSA family member. I would argue that only ANCSA Sealaska shareholders who were on the original rolls should be allowed to decide whether we will allow our Sealaska stocks to be diluted, voting with whatever number of our share of votes remain that we have not gifted to others.

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For example, I have 100 shares as an original shareholder, but I have also inherited 51 shares. I will vote no to this action with my 100 shares, but I believe that it would be unfair of me to use my late father's 51 shares to vote no against dependent shares, just as it is equally unfair to allow Post-ANCSA shareholders to vote themselves additional shares of stock. I would suggest that if Sealaska's management disregards, what in all honesty should be a fair vote by original shareholders only, that we as original shareholders should consider a class-action lawsuit to seek remedy for the dependent stock issue.

Michael Nelson

McLean, Va.

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