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EXHIBIT (a)(12)
[LINDAL LOGO]
TO: Lindal Option Holders
FROM: Dennis Gregg
DATE: January 4, 2001
SUBJECT: Purchase of options
In connection to with the Company's Offer to Purchase the outstanding shares of
its common stock, the Board of Directors accelerated the vesting of outstanding
stock options so that all such options are now fully exercisable. In addition,
the Company is providing optionees with the opportunity to surrender such
options in exchange for payment in cash of the net value of the options (subject
to any applicable withholding taxes).
FOR EXAMPLE:
Employee A owns options to purchase 100 shares of Lindal stock. The exercise
price is $1.5625 per share. Upon receipt of the necessary approval and required
forms from the employee, the Company would make a payment to the employee for
the surrender of such 100 options as follows:
Total number of shares subject to stock options (x) 100
Purchase price $4.5500
Option exercise price 1.5625
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Excess of purchase price over exercise price per share (y) $2.9875
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Payment to employee prior to any applicable withholding $298.75
taxes
You do need to tender all or any portion of your options and should complete
Appendix 1 of the enclosed letter in accordance with the instructions and
deliver it to my attention on or before January 19, 2001.
Based on the recommendation of the Special Committee of the Board of Directors
to Shareholders in respect to tendering their shares in the Offer to Purchase,
the Company recommends that option holders tender those options where the
purchase price ($4.55 per share) exceeds the exercise price per share.
Thank you
Dennis Gregg, CFO
