SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
Stock
Beneficially Class Nature of Percentage
Owned on Of Beneficial of
June 30, 1999 Stock Ownership Class(1)
--------------------------------- ------------------ ---------------------- ----------------------------- -------------
PLMC, L.L.C. 753,701 (2) COMMON Sole Voting and Disposition 20.40%(2)
P.O. Box 6104
Federal Way, WA 98063
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& Capital Partners, LP 508,126 (3) COMMON Sole Voting and Disposition 13.75%(3)
600 California, Suite 1850 1,250 SERIES 4 PREFERRED Sole Disposition 100.00%
San Francisco, CA 94108
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Mud Bay Holdings, Ltd. 368,894 (8) COMMON Sole Voting and Disposition 16.60%
P.O. Box 919
Olympia, WA 98507
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R. W. Christensen, Jr. 753,701 (2) COMMON Shared Voting and 41.81%(5)
Chairman, President 368,894 (8) COMMON Disposition
and Director 155,050 (4)(5) COMMON Shared Voting and
P.O. Box 919 ---------- Disposition
Olympia, WA 98507 1,277,645 Sole voting and Disposition
--------------------------------- ------------------ ---------------------- ----------------------------- -------------
Joel I. Davis 20,000 COMMON Sole Voting and Disposition
Assistant Secretary 368,894 (8) COMMON Shared Voting and
and Director ---------- Disposition 17.50%(7)
388,894
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Robert L. Lovely 28,000 COMMON Sole Voting and Disposition
Director 368,894 (8) COMMON Shared Voting and
---------- Disposition 17.86%(7)
396,894
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Charles S. Seel 29,000 COMMON Sole Voting and Disposition
Secretary 368,894 (8) COMMON Shared Voting and
and Director ---------- Disposition 17.90%(7)
397,894
--------------------------------- ------------------ ---------------------- ----------------------------- -------------
David Soward 20,000 COMMON Sole Voting and Disposition
Director 508,126 (9) COMMON Shared Voting and
---------- Disposition 23.82%(10)
528,126
1,250 (9) SERIES 4 PREFERRED Non-Voting 100.00%
--------------------------------- ------------------ ---------------------- ----------------------------- -------------
Michael A. Price 753,701 (2) COMMON Shared Voting and
Director 219,800 (4) Disposition
----------
973,501 43.42%(11)
--------------------------------- ------------------ ---------------------- ----------------------------- -------------
Robert Kanatzar 17,000 (4) COMMON Sole Voting and Disposition **
Sr.VP.-Risk Management
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--------------------------------- ------------------ ---------------------- ----------------------------- -------------
Warren Kornfeld 33,334 (4) COMMON Sole Voting and Disposition 01.48%(12)
Sr. VP-Finance
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All Directors and Officers as a 2,152,905 COMMON 59.24%(13)
Group (8 persons)
** DENOTES LESS THAN 1%
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(1) Except as otherwise indicated, Stock Beneficially Owned and Percentage
of Class are based upon 2,222,300 shares of common stock outstanding as
of June 30, 1999. Under Rule 13d-3(d)(1), any securities not
outstanding which are subject to options, warrants, rights or
conversion privileges shall be deemed to be outstanding for purposes of
computing the percentage of outstanding securities owned by such
person, but not deemed outstanding for computing percentage ownership
by any other person.
(2) PLMC, L.L.C. holds a Convertible Subordinated Note can be converted
into $753,701 shares of the Common Stock. Mr. Christensen and Mr.
Price, directors of Westar, are principals in PLMC, L.L.C. The holdings
of PLMC, LLC are attributed to both Mr. Christensen and Mr. Price under
Rule 13d-3.
(3) & Capital Partners, LP has the right to convert its Series 4 B
Preferred Shares into 10% of the outstanding Common Stock on a
fully-diluted basis. It also holds warrants for 3.75% of the
outstanding Common Stock on a fully-diluted basis. The holdings are
based upon 3,695,461 common shares outstanding. Mr. Soward is the
Senior Vice President of & Capital Partners, Inc., the general partner
of & Capital Partners, LP.
(4) Includes shares options and/or conversion rights which may be exercised
within 60 days.
(5) Based upon 3,056,001 common shares outstanding.
(6) Includes the interest of Summit Capital Resources, Ltd. of which Mr.
Christensen is the sole director and officer. The interest is
attributed to Mr. Christensen under Rule 13d-3.
(7) Based upon 2,222,300 common shares outstanding.
(8) The interest of Mud Bay Holdings, Ltd. of which Messrs. Christensen,
Davis, Lovely and Seel are directors collectively holding dispositive
power. All four individuals are attributed all of the holdings of Mud
Bay Holdings, Ltd. under Rule 13d-3.
(9) Includes the interest of & Capital Partners, LP, under Rule 13d-3.
(10) Based upon 2,730,426 common shares outstanding.
(11) Based upon 2,996,001 common shares outstanding.
(12) Based upon 2,255,634 common shares outstanding.
(13) Based upon 3,634,461 common shares outstanding.
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