-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Tlef9iwn6o+NOTFA+1v3o5hDaojShd5dKO9eYZsyNPPwSNhMgggj5N8bhm7CH/uw nHf0ftGdiNTrV1PvVhRrOg== 0000950124-01-001391.txt : 20010320 0000950124-01-001391.hdr.sgml : 20010320 ACCESSION NUMBER: 0000950124-01-001391 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20010319 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: WINLAND ELECTRONICS INC CENTRAL INDEX KEY: 0000749935 STANDARD INDUSTRIAL CLASSIFICATION: INDUSTRIAL INSTRUMENTS FOR MEASUREMENT, DISPLAY, AND CONTROL [3823] IRS NUMBER: 410992135 STATE OF INCORPORATION: MN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-41503 FILM NUMBER: 1571555 BUSINESS ADDRESS: STREET 1: 1950 EXCEL DR CITY: MANKATO STATE: MN ZIP: 56001 BUSINESS PHONE: 5076257231 MAIL ADDRESS: STREET 1: 1950 EXCEL DRIVE CITY: MANKATO STATE: MN ZIP: 56001 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: DYNA TECHNOLOGY INC CENTRAL INDEX KEY: 0001102226 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 411854537 STATE OF INCORPORATION: UT FISCAL YEAR END: 0101 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 225 SOUTH CORDOVA AVENUE CITY: LECENTER STATE: MN ZIP: 56057 BUSINESS PHONE: 5053576821 MAIL ADDRESS: STREET 1: 225 SOUTH CORDOVA AVENUE CITY: LECENTER STATE: MN ZIP: 56057 SC 13D/A 1 c60936sc13da.txt AMENDMENT #2 TO SCHEDULE 13D 1 SCHEDULE 13D (RULE 13d-101) Information to be Included in Statements Filed Pursuant to Rule 13d-1(a) and Amendments Thereto Filed Pursuant to Rule 13d-2(a) SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 2)*(1) Winland Electronics, Inc. - -------------------------------------------------------------------------------- (Name of Issuer) Winland Electronics, Inc. Common Stock - -------------------------------------------------------------------------------- (Title of Class of Securities) 974241 10 1 - -------------------------------------------------------------------------------- (CUSIP Number) ATTN: Ralph I. Call Dyna Technology, Inc. 225 South Cordova Avenue LeCenter, MN 56057 (507) 357-6821 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) March 15, 2001 - -------------------------------------------------------------------------------- (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box / /. Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7(b) for other parties to whom copies are to be sent. *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). - --------------- (1) As to Dyna Technology, Inc., Ralph I. Call and Nola D. Call, this filing is the second amendment to the original Schedule 13D filed on November 22, 2000. This is an initial filing with respect to all other Reporting Persons. 2 CUSIP NO. 974241 10 1 13D PAGE 2 OF 34 PAGES - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Dyna Technology, Inc. 41-1854537 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) WC, OO (This Reporting Person's beneficial interest in the shares as disclosed in parts 8 and 10 below were purchased with Dyna Technology, Inc. working capital and personal and bank funds of Paul R. Holzhueter and Valerie Holzhueter.) - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Organized under the laws of Utah - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 404,800 SHARES ----------------------------------------------------------------- 8 SHARED VOTING POWER BENEFICIALLY 489,900 OWNED BY EACH ----------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER REPORTING 404,800 PERSON ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER WITH 489,900 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 489,900 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) [ ] N/A - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 16.6% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) CO - -------------------------------------------------------------------------------- 3 CUSIP NO. 974241 10 1 13D PAGE 3 OF 34 PAGES - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Ralph I. Call N/A - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) OO, AF (This Reporting Person's beneficial interest in the shares as disclosed in parts 8 and 10 below were purchased with Dyna Technology, Inc. working capital and personal and bank funds of Paul R. Holzhueter and Valerie Holzhueter.) - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION USA - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF -0- SHARES ----------------------------------------------------------------- 8 SHARED VOTING POWER BENEFICIALLY 489,900 OWNED BY EACH ----------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER REPORTING -0- PERSON ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER WITH 489,900 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 489,900 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) [ ] N/A - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 16.6% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) IN - -------------------------------------------------------------------------------- 4 CUSIP NO. 974241 10 1 13D PAGE 4 OF 34 PAGES - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Nola D. Call N/A - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [ ] (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) AF - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION USA - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF -0- SHARES ----------------------------------------------------------------- 8 SHARED VOTING POWER BENEFICIALLY 404,800 OWNED BY EACH ----------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER REPORTING -0- PERSON ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER WITH 404,800 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 404,800 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) [ ] N/A - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13.7% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) IN - -------------------------------------------------------------------------------- 5 CUSIP NO. 974241 10 1 13D PAGE 5 OF 34 PAGES - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Gerald E. Brown NA - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) OO (This Reporting Person's beneficial interest in the shares as disclosed in parts 8 and 10 below were purchased with Dyna Technology, Inc. working capital and personal and bank funds of Paul R. Holzhueter and Valerie Holzhueter.) - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION USA - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF -0- SHARES ----------------------------------------------------------------- 8 SHARED VOTING POWER BENEFICIALLY 489,900 OWNED BY EACH ----------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER REPORTING -0- PERSON ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER WITH 489,900 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 489,900 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) [ ] N/A - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 16.6% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) IN - -------------------------------------------------------------------------------- 6 CUSIP NO. 974241 10 1 13D PAGE 6 OF 34 PAGES - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Thompson H. Davis NA - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) OO (This Reporting Person's beneficial interest in the shares as disclosed in parts 8 and 10 below were purchased with Dyna Technology, Inc. working capital and personal and bank funds of Paul R. Holzhueter and Valerie Holzhueter.) - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION USA - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF -0- SHARES ----------------------------------------------------------------- 8 SHARED VOTING POWER BENEFICIALLY 489,900 OWNED BY EACH ----------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER REPORTING -0- PERSON ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER WITH 489,900 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 489,900 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) [ ] N/A - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 16.6% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) IN - -------------------------------------------------------------------------------- 7 CUSIP NO. 974241 10 1 13D PAGE 7 OF 34 PAGES - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Steven A. Fraley NA - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) OO, AF (This Reporting Person's beneficial interest in the shares as disclosed in parts 8 and 10 below were purchased with Dyna Technology, Inc. working capital and personal and bank funds of Paul R. Holzhueter and Valerie Holzhueter.) - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION USA - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF -0- SHARES ----------------------------------------------------------------- 8 SHARED VOTING POWER BENEFICIALLY 489,900 OWNED BY EACH ----------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER REPORTING -0- PERSON ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER WITH 489,900 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 489,900 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) [ ] N/A - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 16.6% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) IN - -------------------------------------------------------------------------------- 8 CUSIP NO. 974241 10 1 13D PAGE 8 OF 34 PAGES - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Paul R. Holzhueter NA - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) PF, BK, OO (This Reporting Person's beneficial interest in the shares as disclosed in parts 8 and 10 below were purchased with Dyna Technology, Inc. working capital and personal and bank funds of Paul R. Holzhueter and Valerie Holzhueter.) - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION USA - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF -0- SHARES ----------------------------------------------------------------- 8 SHARED VOTING POWER BENEFICIALLY 489,900 OWNED BY EACH ----------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER REPORTING -0- PERSON ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER WITH 489,900 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 489,900 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) [ ] N/A - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 16.6% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) IN - -------------------------------------------------------------------------------- 9 CUSIP NO. 974241 10 1 13D PAGE 9 OF 34 PAGES - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Valerie Holzhueter NA - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [ ] (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) PF, BK - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION USA - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF -0- SHARES ----------------------------------------------------------------- 8 SHARED VOTING POWER BENEFICIALLY 85,100 OWNED BY EACH ----------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER REPORTING -0- PERSON ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER WITH 85,100 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 85,100 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) [ ] N/A - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.9% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) IN - -------------------------------------------------------------------------------- 10 CUSIP NO. 974241 10 1 13D PAGE 10 OF 34 PAGES - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) James J. Kamp NA - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) OO (This Reporting Person's beneficial interest in the shares as disclosed in parts 8 and 10 below were purchased with Dyna Technology, Inc. working capital and personal and bank funds of Paul R. Holzhueter and Valerie Holzhueter.) - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION USA - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF -0- SHARES ----------------------------------------------------------------- 8 SHARED VOTING POWER BENEFICIALLY 489,900 OWNED BY EACH ----------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER REPORTING -0- PERSON ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER WITH 489,900 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 489,900 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) [ ] N/A - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 16.6% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) IN - -------------------------------------------------------------------------------- 11 CUSIP NO. 974241 10 1 13D PAGE 11 OF 34 PAGES - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Robert L. Ring NA - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [X] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) OO (This Reporting Person's beneficial interest in the shares as disclosed in parts 8 and 10 below were purchased with Dyna Technology, Inc. working capital and personal and bank funds of Paul R. Holzhueter and Valerie Holzhueter.) - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION USA - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF -0- SHARES ----------------------------------------------------------------- 8 SHARED VOTING POWER BENEFICIALLY 489,900 OWNED BY EACH ----------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER REPORTING -0- PERSON ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER WITH 489,900 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 489,900 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) [ ] N/A - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 16.6% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) IN - -------------------------------------------------------------------------------- 12 ITEM 1. (a) Name of Issuer: Winland Electronics, Inc. (b) Address of Issuer's Principal Executive Offices: 1950 Excel Drive, Mankato, MN 56001 ITEM 2. i. (a) Name of Person Filing: Dyna Technology, Inc., a Utah Corporation (b) Business Address: 225 South Cordova Avenue, LeCenter, MN 56057 (c) Occupation: N/A (d) Criminal Proceedings: None (e) Civil Securities Proceedings: None (f) Citizenship: N/A ii. (a) Name of Person Filing: Ralph I. Call (b) Address: 585 Canyon Road, Providence, Utah 84332 (c) Occupation: President, Dyna Technology, Inc. (Item 2i above) (d) Criminal Proceedings: None (e) Civil Securities Proceedings: None (f) Citizenship: USA iii. (a) Name of Person Filing: Nola D. Call (b) Address: 585 Canyon Road, Providence, Utah 84332 (c) Occupation: N/A (d) Criminal Proceedings: None (e) Civil Securities Proceedings: None (f) Citizenship: USA iv. (a) Name of Person Filing: Gerald E. Brown (b) Address: 2707 N. 1008 Street, Suite 100, Omaha, NE 68164 (c) Occupation: President, American HealthNet, Inc., 2707 N. 108th Street, Omaha, NE 68164 (d) Criminal Proceedings: None (e) Civil Securities Proceedings: None (f) Citizenship: USA v. (a) Name of Person Filing: Thompson H. Davis (b) Address: 8089 Deer Creek Road, Salt Lake City, UT 84121 (c) Occupation: Pilot, Delta Airlines, Salt Lake City Int'l Airport, Salt Lake City, UT 84121 (d) Criminal Proceedings: None (e) Civil Securities Proceedings: None (f) Citizenship: USA vi. (a) Name of Person Filing: Steven A. Fraley (b) Address: 225 South Cordova Ave., LeCenter, MN 56057 (c) Occupation: President and Chief Operating Officer, Winco, Inc., 225 South Cordova Ave., LeCenter, MN 56057 (d) Criminal Proceedings: None (e) Civil Securities Proceedings: None (f) Citizenship: USA
Page 12 of 34 13 vii. (a) Name of Person Filing: Paul R. Holzhueter (b) Address: 101 North Second Street, Suite 110, Mankato, MN 56001 (c) Occupation: Director of Business Development, Malt-O-Meal Company, 701 West 5th Street, Northfield, MN 55057 (d) Criminal Proceedings: None (e) Civil Securities Proceedings: None (f) Citizenship: USA viii. (a) Name of Person Filing: Valerie Holzhueter (b) Address: 1585 Sherwood Drive, North Mankato, MN 56003 (c) Occupation: N/A (d) Criminal Proceedings: None (e) Civil Securities Proceedings: None (f) Citizenship: USA ix. (a) Name of Person Filing: James J. Kamp (b) Address: 7580 Quattro Drive, Chanhassen, MN 55317 (c) Occupation: Chief Financial Officer, Peripheral Technology Group; Controller, Innovative Marketing Solutions, 7580 Quattro Drive, Chanhassen, MN 55317 (d) Criminal Proceedings: None (e) Civil Securities Proceedings: None (f) Citizenship: USA x. (a) Name of Person Filing: Robert L. Ring (b) Address: P.O. Box 4067, Wichita, KS 67204 (c) Occupation: Independent Business Consultant (d) Criminal Proceedings: None (e) Civil Securities Proceedings: None (f) Citizenship: USA
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION As to Dyna Technology, Inc.: The beneficial interest of Dyna Technology, Inc. in the shares disclosed in Item 5 below were purchased with Dyna Technology, Inc. working capital and the personal and bank funds of Paul R. Holzhueter and Valerie Holzhueter. As to Ralph I. Call: Mr. Call's beneficial interest in the shares as disclosed in Item 5 below were purchased with Dyna Technology, Inc. working capital and the personal and bank funds of Paul R. Holzhueter and Valerie Holzhueter. As to Nola D. Call: Mrs. Call's beneficial interest in the shares as disclosed in Item 5 below were purchased with Dyna Technology, Inc. working capital. Mrs. Call disclaims any beneficial interest in the shares held by members of the Shareholders' Protective Committee other than those beneficially owned by Mr. Call. As to Gerald E. Brown: Mr. Brown's beneficial interest in the shares as disclosed in Item 5 below were purchased with Dyna Technology, Inc. working capital and the personal and bank funds of Paul R. Holzhueter and Valerie Holzhueter. Page 13 of 34 14 As to Thompson H. Davis: Mr. Davis's beneficial interest in the shares as disclosed in Item 5 below were purchased with Dyna Technology, Inc. working capital and with the personal and bank funds of Paul R. Holzhueter and Valerie Holzhueter. As to Steven A. Fraley: Mr. Fraley's beneficial interest in the shares as disclosed in Item 5 below were purchased with Dyna Technology, Inc. working capital and the personal and bank funds of Paul R. Holzhueter and Valerie Holzhueter. As to Paul R. Holzhueter: Mr. Holzhueter's beneficial interest in the shares as disclosed in Item 5 below were purchased with Dyna Technology, Inc. working capital and the personal and bank funds of Paul R. Holzhueter and Valerie Holzhueter. All bank loans were borrowed from a commercial lending institution upon arms-length terms. As of the date of this filing, all such funds have been repaid. As to Valerie Holzhueter: Mrs. Holzhueter disclaims any beneficial interest in the shares held by members of the Shareholders' Protective Committee other than those beneficially owned by Mr. Holzhueter. Mrs. Holzhueter's beneficial interest in the shares as disclosed in Item 5 below were obtained with the personal and bank funds of Paul R. Holzhueter and Valerie Holzhueter. All bank loans were borrowed from a commercial lending institution upon arms-length terms. As of the date of this filing, all such funds have been repaid. As to James J. Kamp: Mr. Kamp's beneficial interest in the shares as disclosed in Item 5 below were purchased with Dyna Technology, Inc. working capital and the personal and bank funds of Paul R. Holzhueter and Valerie Holzhueter. As to Robert L. Ring: Mr. Ring's beneficial interest in the shares as disclosed in Item 5 below were purchased with Dyna Technology, Inc. working capital and the personal and bank funds of Paul R. Holzhueter and Valerie Holzhueter. ITEM 4. PURPOSE OF TRANSACTION State the purpose or purposes of the acquisition of securities of the issuer. Describe any plans or proposals which the reporting persons may have which relate to or would result in: (a) The acquisition by any person of additional securities of the issuer, or the disposition of securities of the issuer: Dyna Technology, Inc. intends to acquire such additional securities of the issuer as may be necessary to influence the election of directors to the Board of Directors of the issuer. (b) An extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the issuer or any of its subsidiaries; NONE. (c) A sale or transfer of a material amount of assets of the issuer or any of its subsidiaries; NONE. Page 14 of 34 15 (d) Any change in the present board of directors or management of the issuer, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the board; The individual Reporting Persons identified in the cover page of this Schedule 13D, with the exception of Nola D. Call and Valerie Holzhueter, organized a Shareholders' Protective Committee (the "Committee") on March 15, 2001 to engage in a proxy solicitation of shareholders of the Issuer to elect its members to the Board of Directors of the Issuer with the effect that the present Board of Directors of the Issuer will be replaced by the members of the Committee. (e) Any material change in the present capitalization or dividend policy of the issuer; NONE. (f) Any other material change in the issuer's business or corporate structure including but not limited to, if the issuer is a registered closed-end investment company, any plans or proposals to make any changes in its investment policy for which a vote is required by section 13 of the Investment Company Act of 1940; NONE. (g) Changes in the issuer's charter, bylaws or instruments corresponding thereto or other actions which may impede the acquisition of control of the issuer by any person; The individual Reporting Persons and the Shareholders' Protective Committee intend to submit the following shareholder proposals for action by the shareholders of the Issuer at its annual meeting: i. That the Issuer be required to conduct its annual meeting on or prior to July 31 of each year; and i1. That the Issuer repeal sections 2.2, 2.3 and 2.9 of the Amended and Restated Bylaws it adopted on March 5, 2001 to the effect that at least 60, and not more than 90 days' advance notice be given to the Issuer of any shareholder proposal and of any nominee to the Board of Directors of the Issuer, and which granted broad discretionary authority to the chairman to prescribe rules, regulations and procedures for conduct of meetings of shareholders; and iii. That the Issuer adopt a Bylaw provision requiring that any bylaws adopted by the shareholders of the issuer cannot be amended or repealed by the Board of Directors. (h) Causing a class of securities of the issuer to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association; NONE. (i) A class of equity securities of the issuer becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Act; or NONE. Page 15 of 34 16 (j) Any action similar to any of those enumerated above. NONE. ITEM 5. (a) State the aggregate number and percentage of the class of securities identified pursuant to Item 1 (which may be based on the number of securities outstanding as contained in the most recently available filing with the Commission by the issuer unless the filing person has reason to believe such information is not current) beneficially owned (identifying those shares which there is a right to acquire) by each person named in Item 2. The above mentioned information should also be furnished with respect to persons who, together with any of the persons named in Item 2, comprise a group within the meaning of Section 13(d)(3) of the Act: Dyna Technology, Inc.: 489,900 shares/16.6% - 404,800 shares of which are held by it directly and 85,100 shares of which are beneficially owned by reason of its membership in the Shareholders' Protective Committee (See Item 6) Ralph I. Call: Beneficial ownership of 489,900 shares/16.6% - 404,800 shares by reason of his Directorship and controlling interest in Dyna Technology, Inc. and 85,100 shares of which are beneficially owned by reason of his membership in the Shareholders' Protective Committee (See Item 6) Nola D. Call: Beneficial ownership of 404,800 shares/ 13.7% by reason of her controlling interest in Dyna Technology, Inc. Gerald E. Brown: Beneficial ownership of 489,900 shares/16.6% by reason of his membership in the Shareholders' Protective Committee (See Item 6) Thompson H. Davis: Beneficial ownership of 489,900 shares/16.6% by reason of his membership in the Shareholders' Protective Committee (See Item 6) Steven A. Fraley: Beneficial ownership of 489,900 shares/16.6% - 404,800 shares by reason of his Directorship in Dyna Technology, Inc. and 85,100 shares of which are beneficially owned by reason of his membership in the Shareholders' Protective Committee (See Item 6) Paul R. Holzhueter: Beneficial ownership of 489,900 shares/16.6% - 404,800 shares by reason of his membership in the Shareholders' Protective Committee (See Item 6) and 85,100 shares of which are beneficially owned by reason of his marriage to Valerie Holzhueter. Valerie Holzhueter: 85,100 shares/ 2.9% by reason of her marriage to Paul R. Holzhueter.
Page 16 of 34 17 James J. Kamp: Beneficial ownership of 489,900 shares/16.6% by reason of his membership in the Shareholders' Protective Committee (See Item 6). Robert L. Ring: Beneficial ownership of 489,900 shares/16.6% by reason of his membership in the Shareholders' Protective Committee (See Item 6). All Reporting Persons, Aggregated: 489,900/16.6%.
(b) For each person named in response to paragraph (a), indicate the number of shares as to which there is sole power to vote or to direct the vote, shared power to vote or to direct the vote, sole power to dispose or to direct the disposition, or shared power to dispose or to direct the disposition. Provide the applicable information required by Item 2 with respect to each person with whom the power to vote or to direct the vote or to dispose or direct the disposition is shared: Dyna Technology, Inc.: Sole Power to Vote: 404,800 Shared Power to Vote: 489,900 Sole Power to Dispose: 404,800 Shared Power to Dispose: 489,900 Ralph I. Call: Sole Power to Vote: -0- Shared Power to Vote: 489,900 Sole Power to Dispose: -0- Shared Power to Dispose: 489,900 Nola D. Call: Sole Power to Vote: -0- Shared Power to Vote: 404,800 Sole Power to Dispose: -0- Shared Power to Dispose: 404,800 Gerald E. Brown: Sole Power to Vote: -0- Shared Power to Vote: 489,900 Sole Power to Dispose: -0- Shared Power to Dispose: 489,900 Thompson H. Davis: Sole Power to Vote: -0- Shared Power to Vote: 489,900 Sole Power to Dispose: -0- Shared Power to Dispose: 489,900 Steven A. Fraley: Sole Power to Vote: -0- Shared Power to Vote: 489,900 Sole Power to Dispose: -0- Shared Power to Dispose: 489,900 Paul R. Holzhueter: Sole Power to Vote: -0- Shared Power to Vote: 489,900 Sole Power to Dispose: -0- Shared Power to Dispose: 489,900
Page 17 of 34 18 Valerie Holzhueter: Sole Power to Vote: -0- Shared Power to Vote: 85,100 Sole Power to Dispose: -0- Shared Power to Dispose: 85,100 James J. Kamp: Sole Power to Vote: -0- Shared Power to Vote: 489,900 Sole Power to Dispose: -0- Shared Power to Dispose: 489,900 Robert L. Ring: Sole Power to Vote: -0- Shared Power to Vote: 489,900 Sole Power to Dispose: -0- Shared Power to Dispose: 489,900
(c) Describe any transactions in the class of securities reported on that were effected during the past sixty days or since the most recent filing of Schedule 13D (ss.240.13d-191), whichever is less, by the persons named in response to paragraph (a).
- -------------------------------- ------------------- -------------------------- ---------------- ----------------------------------- Identity of Person Date of Amount of WEX Price per Where and how transaction Transaction Securities Involved Share/Unit effected - -------------------------------- ------------------- -------------------------- ---------------- ----------------------------------- New England Securities, Wichita, Dyna Technology, Inc. Jan 5, 2001 4700 Shares $1.25 KS, Open Order on AMEX Exchange - -------------------------------- ------------------- -------------------------- ---------------- ----------------------------------- New England Securities, Wichita, Dyna Technology, Inc. Jan 9, 2001 100 Shares $1.25 KS, Open Order on AMEX Exchange - -------------------------------- ------------------- -------------------------- ---------------- -----------------------------------
Instruction. The description of a transaction required by Item 5(c) shall include, but not necessarily be limited to: (1) the identity of the person covered by Item 5(c) who effected the transaction; (2) the date of the transaction; (3) the amount of securities involved; (4) the price per share or unit; and (5) where and how the transaction was effected. (d) If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than five percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of an employee benefit plan, pension fund or endowment fund is not required. N/A (e) If applicable, state the date on which the reporting person ceased to be the beneficial owner of more than five percent of the class of securities. N/A Instruction. For computations regarding securities which represent a right to acquire an underlying security, see Rule 13d-3(d)(1) and the note thereto. Page 18 of 34 19 ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER Describe any contracts, arrangements, understandings or relationships (legal or otherwise) among the persons named in Item 2 and between such persons and any person with respect to any securities of the issuer, including but not limited to transfer or voting of any of the securities, finder's fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies, naming the persons with whom such contracts, arrangements, understandings or relationships have been entered into. Include such information for any of the securities that are pledged or otherwise subject to a contingency the occurrence of which would give another person voting power or investment power over such securities except that disclosure of standard default and similar provisions contained in loan agreements need not be included. The sole stockholders of Dyna Technology, Inc. are Ralph I. Call and Nola D. Call, 585 Canyon Road, Providence, UT 84332. Mr. Call is also the President and Chief Executive Officer of Dyna Technology, Inc. and serves on its Board of Directors. Steven A. Fraley is the Vice-President and Secretary-Treasurer of Dyna Technology, Inc. and serves on its Board of Directors. The individual Reporting Persons identified in the cover page of this Schedule 13D, with the exception of Nola D. Call and Valerie Holzhueter, organized a Shareholders' Protective Committee (the "Committee") on March 15, 2001 to engage in a proxy solicitation of shareholders of the Issuer to elect its members to the Board of Directors of the Issuer with the effect that the present Board of Directors of the Issuer will be replaced by the members of the Committee. The Committee was organized pursuant to the terms of the Shareholders' Protective Committee Letter Agreement dated March 15, 2001 (the "Agreement"). Under the terms of the Agreement, Ralph I. Call and Dyna Technology, Inc. have agreed to pay out-of pocket costs incurred by the members of the Committee in connection with their services on and to the Committee, and have further agreed to indemnify each member of the Committee from and against any and all costs and liabilities (excluding actions resulting from the bad faith, willful misconduct or gross negligence of such member) the members may become subject to based upon or arising out of the members' actions related to the proxy solicitation of shareholders of the Issuer. ITEM 7. MATERIAL TO BE FILED AS EXHIBITS The following shall be filed as exhibits: copies of written agreements relating to the filing of joint acquisition statements as required by ss.240.13d-1(k) and copies of all written agreements, contracts, arrangements, understandings, plans or proposals relating to: (1) the borrowing of funds to finance the acquisition as disclosed in Item 3; (2) the acquisition of issuer control, liquidation, sale of assets, merger, or change in business or corporate structure or any other matter as disclosed in Item 4; and (3) the transfer or voting of the securities, finder's fees, joint ventures, options, puts, calls, guarantees of loans, guarantees against loss or of profit, or the giving or withholding of any proxy as disclosed in Item 6. Exhibit 7.1: Shareholders' Protective Committee Letter Agreement dated March 15, 2001. Exhibit 7.2: Notice of Shareholder Nominees and Business Proposals; Demand for Shareholder List. Page 19 of 34 20 SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. March 15, 2001 --------------------------- Date Dyna Technology, Inc. By: /s/ Ralph I. Call ------------------------------ Signature Ralph I. Call Its: President ------------------------------------- Name/Title By: /s/ Ralph I. Call ------------------------------ Signature Ralph I. Call, Director, President and controlling stockholder of Dyna Technology, Inc. and member of Shareholders' Protective Committee -------------------------------------------- Name/Title By: /s/ Nola D. Call ------------------------------ Signature Nola D. Call, controlling stockholder of Dyna Technology, Inc. -------------------------------------------- Name/Title By: /s/ Gerald E. Brown ------------------------------ Signature Gerald E. Brown, member of Shareholders' Protective Committee -------------------------------------------- Name/Title By: /s/ Thompson H. Davis ------------------------------ Signature Thompson H. Davis, member of Shareholders' Protective Committee -------------------------------------------- Name/Title Page 20 of 34 21 By: /s/ Steven A. Fraley ------------------------------ Signature Steven A. Fraley, Director, Vice-President and Secretary-Treasurer of Dyna Technology, Inc. and member of Shareholders' Protective Committee -------------------------------------------- Name/Title By: /s/ Paul R. Holzhueter ------------------------------ Signature Paul R. Holzhueter, member of Shareholders' Protective Committee -------------------------------------------- Name/Title By: /s/ Valerie Holzhueter ------------------------------ Signature Valerie Holzhueter, Shareholder -------------------------------------------- Name/Title By: /s/ James J. Kamp ------------------------------ Signature James J. Kamp, member of Shareholders' Protective Committee -------------------------------------------- Name/Title By: /s/ Robert L. Ring ------------------------------ Signature Robert L. Ring, member of Shareholders' Protective Committee -------------------------------------------- Name/Title ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001) Page 21 of 34 EX-7.1 2 c60936ex7-1.txt SHAREHOLDERS' PROTECTIVE COMMITTEE LETTER AGREEMNT 1 EXHIBIT 7.1 RALPH I. CALL DYNA TECHNOLOGY, INC. 585 CANYON ROAD PROVIDENCE, UTAH 84332 To: Steven A. Fraley Paul R. Holzhueter James J. Kamp Thompson H. Davis Robert L. Ring Gerald E. Brown RE: SHAREHOLDERS' PROTECTIVE COMMITTEE LETTER AGREEMENT Dear Potential Nominee for Director of Winland Electronics, Inc: The purpose of this letter agreement (the "Agreement") is to confirm your interest and commitment to standing for election as a director for Winland Electronics, Inc. ("Winland"). This Agreement will not become effective and you will not be deemed to be a member of the committee of nominees proposed by me to stand for election to the Board of Directors of Winland (the "Shareholders' Protective Committee" or the "Committee"), until you have executed and returned this Agreement (along with a proxy statement questionnaire) and the same has been accepted by me. You understand that the Shareholder's Protective Committee is being formed to engage in a proxy solicitation of shareholders of Winland to elect its members to the Board of Directors of Winland (and in so doing, oust Winland's current management). You understand that these actions by the Committee will likely result in a proxy contest for control of Winland's Board of Directors (the "Proxy Contest") and could involve a substantial amount of time and expense including litigation. In consideration of your services as set forth above, I agree to pay all of your out-of-pocket expenses (including travel expenses and counsel fees and expenses) incurred in connection with the rendering of such services and, in addition, I agree to indemnify you against and hold you harmless from any and all losses, claims, damages, counsel fees and expenses (including fees and expenses incurred in defending or investigating any such claim) and all liabilities to which you may become subject under any statute, under common law or otherwise relating to, based upon or arising out of your actions which relate to the Proxy Contest or to your serving as a nominee for director of Winland; provided, however, that I shall not be liable in any such case to the extent that any such loss, claim, damage, counsel fee or liability is found in a final judgment by a court, not subject to further appeal, to have resulted from bad faith, willful misconduct or gross negligence on your part. Promptly after receipt by you of notice of any claim or the commencement of any action, proceeding or investigation in respect of which indemnity or reimbursement may be sought as provided above, you will notify me in writing (with copies to Michael C. Karp, Blethen Gage & Krause, PLLP, 127 South Second Street, P.O. Box 3049, Mankato, MN 56002-3049 and John C. Levy, Parsinen Kaplan Rosberg & Gotlieb P.A., 100 South Fifth Street, Minneapolis, MN 55402) of the receipt or commencement thereof. In case any such action, proceeding or investigation is brought against you, and you notify me of the commencement thereof, I will be entitled to participate therein and, to the extent that I may wish, to assume the defense thereof, with counsel who shall be reasonably satisfactory to you; provided, however, that if the defendants in any such action include both you and me and if you shall have been advised by counsel that there may be one or more legal defenses available to you which are different from or additional to those available to me, you shall have the right to elect separate counsel to participate in the defense of such action on your behalf. After notice to you of my election so to assume the defense thereof, I will not be liable to you under this Agreement for any legal Page 22 of 34 2 or other expenses subsequently incurred by you in connection with the defense thereof, unless you shall have employed counsel in accordance with the proviso in the preceding sentence. Any payments required to be made by me pursuant to this Agreement shall be remitted to you on a monthly basis as the expenses to which such payments relate are incurred. Please indicate your agreement to the terms and conditions of this Agreement by signing below where indicated. You will not be deemed to be a member of the Committee until you have executed and returned this Agreement along with a completed proxy statement questionnaire and it has been accepted by me. Thank you for your interest in rescuing Winland. Very truly yours, /s/ Ralph I. Call - -------------------------- Ralph I. Call The Undersigned hereby agrees to the terms and conditions of this Agreement this 15th day of March, 2001. /s/ Gerald E Brown; /s/ Thompson H. Davis; /s/ Steven A. Fraley; /s/ Paul R. Holzhueter; /s/ James J. Kamp; /s/ Robert L. Ring - -------------------------------------------------------------------------------- ACCEPTANCE: THIS AGREEMENT IS HEREBY ACCEPTED THIS 15TH DAY OF MARCH, 2001 /s/ Ralph I. Call - ----------------------------------------------------------- Ralph I. Call, Chairman, Shareholders' Protective Committee Page 23 of 34 EX-7.2 3 c60936ex7-2.txt NOTICE OF SHAREHOLDER NOMINEES & BUSINESS PROPOSAL 1 EXHIBIT 7.2 DYNA TECHNOLOGY, INC. 225 SOUTH CORDOVA AVENUE LECENTER, MN 56057 March 15, 2001 Winland Electronics, Inc. Attn. Secretary 1950 Excel Drive Mankato, MN 56001 RE: NOTICE OF SHAREHOLDER NOMINEES AND BUSINESS PROPOSALS; DEMAND FOR SHAREHOLDER LIST Dear Mr. or Madam Secretary: Pursuant to Article 2, Section 2.2, of the Amended and Restated Bylaws of Winland Electronics, Inc. ("Winland" or the "Company"), effective as of March 5, 2001, notice of the undersigned shareholder's intent to make nominations for the election of directors and propose other business at the Company's 2001 Annual Meeting (the "Annual Meeting") is hereby given as follows: I.NOTICE OF SHAREHOLDER NOMINEES (i) The shareholder who intends to make the nominations is Dyna Technology, Inc. ("Dyna Technology"), 225 South Cordova Ave., LeCenter, MN 56057. The persons to be nominated for election to Winland's Board of Directors and the business address of their principal occupation or employment are: Ralph I. Call, same address as Dyna Technology Steven A. Fraley, same address as Dyna Technology Paul R. Holzhueter, 101 North Second St., Suite 110, Mankato, MN 56001 James J. Kamp, 7580 Quattro Drive, Chanhassen, MN 55317 Thompson H. Davis, 8089 Deer Creek Road, Salt Lake City, UT 84121 Robert L. Ring, P.O. Box 4067, Wichita, KS 67204 Gerald E. Brown, 2619 North 160th St., Omaha, NE 68116 (ii) Dyna Technology is a holder of record of stock of the Company entitled to vote at the Annual Meeting and, through one of its officers, intends to appear in person or by proxy at the Meeting to nominate the persons identified above and propose the business described below. (iii) Ralph I. Call, one of the owners of Dyna Technology, has entered into an agreement with each of the other proposed nominees to form a committee consisting of the nominees (the "Committee") to solicit the shareholders of the Company to elect its members to the Winland Board of Directors (the "Agreement"). Pursuant to the Agreement, Mr. Call has agreed to indemnify and hold harmless each of the members of the Committee from any and all losses, claims, damages, counsel fees and expenses (including fees and expenses incurred in defending or investigating any such claim) and all liabilities to which each may become subject under any statute, under common law or otherwise relating to, based upon or arising out of such person's actions which relate to serving on the Committee or standing for election to the Board of Directors of the Page 24 of 34 2 Company (except to the extent that any such loss, claim, damage, counsel fee or liability is found in a final judgment by a court, not subject to further appeal, to have resulted from bad faith, willful misconduct or gross negligence on the part of an affected Committee member). Except as specified herein, to date, there are no other arrangements or understandings between Dyna Technology and the persons identified above. (iv) Information Regarding Nominees. Information regarding the persons identified above which would be required to be included in a proxy statement filed pursuant to the proxy rules of the Securities and Exchange Commission had such nominees been nominated by the board of directors is as follows: Ralph I. Call. Mr. Call, age 55, has been the President and Chief Executive Officer of Dyna Technology, Inc., a Utah-based holding company, since 1996, the Chairman and Chief Executive Officer of Winco, Inc., a Minnesota-based industrial manufacturer and wholly-owned subsidiary of Dyna Technology, Inc., since 1992, the Chairman and Chief Executive Officer of Winpower, Inc., a South Dakota-based industrial manufacturer and wholly-owned subsidiary of Dyna Technology, Inc., since 1996, and the President and Chief Executive Officer of Pioneer Builders Company of Nevada, a Nevada-based real estate investment company and wholly-owned subsidiary of Dyna Technology, Inc., since 1998. From 1989 to 1998, he was also the President of Winco, Inc. Steven A. Fraley. Mr. Fraley, age 44, has been the President and Chief Operating Officer of Winco, Inc., since 1998. Mr. Fraley has been employed with Winco since 1993. Paul R. Holzhueter. Mr. Holzhueter, age 47, has been the Director of Business Development of the Malt-O-Meal Company, a Minnesota-based food company, since 1998. From 1976 to 1997, he served in various capacities with Hubbard Milling Company, a Minnesota-based food company, most recently as Vice President for the Agri-Feed Group and Pet Food Division. James J. Kamp. Mr. Kamp, age 41, has been the Chief Financial Officer of the Peripheral Technology Group, a Minnesota-based distributor of computer hardware and software, since 1993, and the Controller of Innovative Marketing Solutions, a Minnesota-based fulfillment organization, since 1995. Thompson H. Davis. Mr. Davis, age 55, has been a pilot for Delta Airlines since 1977. He has also been a real estate agent/broker since 1978 and an owner of Colorado Business Associates, Inc., a Colorado-based commercial real estate and property management company, since 1981. Robert L. Ring. Mr. Ring, age 58, has been an independent business process and strategic planning consultant since 1994. Gerald E. Brown. Mr. Brown, age 53, has been the President of American HealthNet, a Nebraska-based medical systems developer, since 1999. From 1994 to 1997, he served as Executive Vice President of the Coleman Company, a Kansas-based manufacturer of recreational and other consumer goods. From 1986 to 1997, Mr. Brown served in various capacities with Coleman Powermate, a Nebraska-based affiliate of the Coleman Company and manufacturer of portable generators, most recently as President and Chief Executive Officer. Nominee ownership of Company Common Stock is as follows:
- -------------------------------------------------------------------------- --------------------- --------------------- NOMINEE NUMBER OF SHARES PERCENT OF CLASS - -------------------------------------------------------------------------- --------------------- --------------------- Ralph I. Call 404,800 (1) 13.7% - -------------------------------------------------------------------------- --------------------- --------------------- Steven A. Fraley -- -- - -------------------------------------------------------------------------- --------------------- --------------------- Paul R. Holzhueter 85,100 (2) 2.9% - -------------------------------------------------------------------------- --------------------- ---------------------
Page 25 of 34 3 - -------------------------------------------------------------------------- --------------------- --------------------- James J. Kamp -- -- - -------------------------------------------------------------------------- --------------------- --------------------- Thompson H. Davis -- -- - -------------------------------------------------------------------------- --------------------- --------------------- Robert L. Ring -- -- - -------------------------------------------------------------------------- --------------------- --------------------- Gerald E. Brown -- -- - -------------------------------------------------------------------------- --------------------- --------------------- All Nominees as a Group (3) 489,900 16.6% - -------------------------------------------------------------------------- --------------------- ---------------------
1. Represents shares owned of record by Dyna Technology, Inc., which is owned and controlled by Mr. Call and his spouse. 2. Represents shares owned beneficially by Mr. Holzhueter's spouse which Mr. Holzhueter has the sole right to vote through a power of attorney. 3. For purposes hereof, each of the Nominees is deemed an associate of each of the other Nominees and of Dyna technology. During the two year period ended March 15, 2001, the Nominees purchased and/or sold shares of the Company's Common Stock as follows (except as indicated, all purchases were made with the particular nominee's personal funds):
- ------------------------- ------------------------ ---------------- --------------- ----------------------------------- NOMINEE DATE OF TRANSACTION AMOUNT OF PURCHASE OR PRICE PER WEX SHARES SOLD SHARE - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter June 10, 1999 3,000 Sold 500 @ $3.625; 500 @ $3.75 1000 @ $3.50; 1000@ $3.25 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter June 15, 1999 3,000 Sold $2.8125 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter July 6, 1999 3,000 Sold $2.8125 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter July 7, 1999 2,000 Sold $2.875 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter July 12, 1999 3,000 Sold $2.625 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter July 13, 1999 3,000 Sold $2.75 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter July 21, 1999 900 Sold $2.875 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter July 22, 1999 300 Sold $2.875 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Sept. 22, 1999 3,800 Sold $2.375 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Sept. 23, 1999 500 Sold $2.375 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Sept. 27, 1999 1,700 Sold $2.375 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Oct. 14, 1999 2,500 Purchase $2.00 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Oct. 21, 1999 17,500 Purchase $2.00 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Oct. 21, 1999 5,500 Purchase $2.25 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Oct. 21, 1999 1,000 Purchase $2.24 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Nov. 09, 1999 4,200 Purchase $2.25 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Nov. 10, 1999 5,200 Purchase $2.25 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Nov. 10, 1999 4,100 Purchase $2.25 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Nov. 11, 1999 4,600 Purchase $2.25 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Nov. 12, 1999 2,000 Purchase $2.25 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Nov. 16, 1999 900 Purchase $2.25 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Nov. 18, 1999 2,100 Purchase $2.25 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Nov 19, 1999 200 Purchase $2.25 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Nov. 22, 1999 9,600 Purchase $2.25 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Nov. 23, 1999 1,900 Purchase $2.25 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Nov. 24, 1999 1,100 Purchase $2.25 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Nov. 29, 1999 1,100 Purchase $2.25 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Nov. 30, 1999 4,400 Purchase $2.25 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Dec. 02, 1999 500 Purchase $2.25 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Dec. 08, 1999 6,700 Purchase $2.25 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Dec. 10, 1999 17,900 Purchase $2.25 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Dec. 10, 1999 500 Purchase $2.19 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Dec. 13, 1999 8,100 Purchase $2.25 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Dec. 14, 1999 3,200 Purchase $2.25 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Dec. 14, 1999 4,000 Purchase $2.31 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Dec. 15, 1999 11,200 Purchase $2.375 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Dec. 17, 1999 9,100 Purchase $2.375 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Dec. 17, 1999 200 Purchase $2.31 - ------------------------- ------------------------ ---------------- --------------- -----------------------------------
Page 26 of 34 4 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Dec. 20, 1999 1,800 Purchase $2.375 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Dec. 20, 1999 500 Purchase $2.31 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Dec. 21, 1999 1,400 Purchase $2.375 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Dec. 23, 1999 7,000 Purchase $2.375 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Dec. 23, 1999 7,500 Purchase $2.25 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Dec. 27, 1999 500 Purchase $2.25 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Dec. 30, 1999 100 Purchase $2.19 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Dec. 30, 1999 100 Purchase $2.22 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Dec. 30 1999 5,000 Purchase $2.25 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Dec. 31, 1999 200 Purchase $2.25 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Jan. 3, 2000 2,600 Purchase $2.25 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Jan. 27, 2000 3,000 Sold $2.5625 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Feb. 1, 2000 2,500 Sold $2.6875 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Feb. 3, 2000 800 Sold $2.6875 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Feb. 8, 2000 2,000 Sold $2.6875 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Feb. 9, 2000 1,200 Sold $2.6875 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Feb. 11, 2000 2,000 Sold $2.6875 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Feb. 14, 2000 9,900 Sold $2.50 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Feb. 29, 2000 1,500 Sold $2.50 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Mar. 1, 2000 500 Sold $2.50 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology May 3, 2000 5,800 Purchase $2.00 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology May 5, 2000 18,200 Purchase $2.00 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology May 24, 2000 20,000 Purchase $2.00 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology May 24, 2000 1,000 Purchase $1.875 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology May 26, 2000 19,000 Purchase $1.875 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology May 31, 2000 1,000 Purchase $1.875 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology June 1, 2000 2,000 Purchase $1.875 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology July 27, 2000 25,400 Purchase $1.875 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Aug. 1, 2000 6,100 Purchase $1.875 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Aug. 2, 2000 5,000 Purchase $1.875 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Aug. 3, 2000 500 Purchase $1.875 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Aug. 4, 2000 1,000 Purchase $1.875 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Aug. 10, 2000 10,000 Purchase $1.9375 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Aug. 11, 2000 4,500 Purchase $1.9375 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Aug. 14, 2000 1,000 Purchase $1.9375 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Aug. 15, 2000 2,500 Purchase $1.9375 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Aug. 16, 2000 4,800 Purchase $2.00 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Aug. 21, 2000 400 Purchase $1.9375 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Aug. 22, 2000 300 Purchase $1.9375 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Aug. 23, 2000 1,100 Purchase $1.9375 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Aug. 24, 2000 2,000 Purchase $1.9375 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Aug. 25, 2000 600 Purchase $1.9375 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Aug. 28, 2000 3,000 Purchase $1.9375 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Aug. 29, 2000 2,600 Purchase $1.9375 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Aug. 31, 2000 2,700 Purchase $1.9375 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Sept. 1, 2000 200 Purchase $1.9375 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Sept. 5, 2000 500 Purchase $1.9375 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Sept. 6, 2000 39,000 Purchase $1.94 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Sept. 6, 2000 5,600 Purchase $1.9375 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Sept. 7, 2000 2,500 Purchase $1.94 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Sept. 7, 2000 200 Purchase $1.9375 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Sept. 8, 2000 4,600 Purchase $1.94 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Sept. 11, 2000 6,800 Purchase $1.9375 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Sept. 12, 2000 200 Purchase $1.94 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Sept. 12, 2000 2,600 Purchase $1.9375 - ------------------------- ------------------------ ---------------- --------------- -----------------------------------
Page 27 of 34 5 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Sept. 14, 2000 2,600 Purchase $1.94 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Sept. 14, 2000 1,400 Purchase $1.9375 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Sept. 15, 2000 3,900 Purchase $1.94 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Sept. 15, 2000 1,200 Purchase $1.9375 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Sept. 19, 2000 100 Purchase $1.9375 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Sept. 20, 2000 2,700 Purchase $1.9375 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Sept. 20, 2000 12,300 Purchase $2.00 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Sept. 21, 2000 2,000 Purchase $1.94 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Sept. 22, 2000 4,200 Purchase $1.94 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Sept. 25, 2000 8,000 Purchase $1.94 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Sept. 26, 2000 500 Purchase $1.94 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Sept. 28, 2000 3,500 Purchase $1.94 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Sept. 29, 2000 8,000 Purchase $1.94 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Oct. 12, 2000 10,000 Purchase $1.50 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Oct. 13, 2000 1,500 Purchase $1.50 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Oct. 18, 2000 1,200 Purchase $1.5625 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Oct. 20, 2000 200 Purchase $1.5625 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Oct. 23, 2000 1,500 Purchase $1.5625 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Oct. 24, 2000 500 Purchase $1.5625 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Oct. 25, 2000 1,600 Purchase $1.5625 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Nov. 2, 2000 500 Purchase $1.56 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Nov. 3, 2000 8,000 Purchase $1.625 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Nov. 7, 2000 1,700 Purchase $1.625 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Nov. 9, 2000 1,000 Purchase $1.625 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Nov. 14, 2000 1,000 Purchase $1.625 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Nov. 16, 2000 3,000 Purchase $1.625 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Nov. 20, 2000 400 Purchase $1.625 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Dec. 4, 2000 1,500 Purchase $1.25 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Dec. 5, 2000 23,000 Purchase $1.25 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Dec. 5, 2000 200 Purchase $1.25 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Dec. 6, 2000 600 Purchase $1.25 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Dec. 6, 2000 1,300 Purchase $1.25 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Dec. 18, 2000 2,100 Purchase $1.3125 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Paul R. Holzhueter Dec. 19, 2000 4,900 Purchase 2,000 @ $1.25; 2,900 @ $1.3125 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Dec. 21, 2000 14,700 Purchase $1.25 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Dec. 22, 2000 300 Purchase $1.25 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Dec. 26, 2000 6,000 Purchase $1.25 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Dec. 28, 2000 4,300 Purchase $1.25 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Dec. 29, 2000 4,700 Purchase $1.25 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Jan. 5, 2001 4,700 Purchase $1.25 - ------------------------- ------------------------ ---------------- --------------- ----------------------------------- Dyna Technology Jan. 9, 2001 100 Purchase $1.25 - ------------------------- ------------------------ ---------------- --------------- -----------------------------------
* Mr. Holzhueter's purchases between August 28, 2000 and December 19, 2000 were financed in part with a line of credit from a bank (made in the bank's ordinary course of business) to Mr. Holzhueter for the purchase of Winland and other securities, which has been repaid. Except as set forth herein, none of the nominees or their respective associates (i) directly or indirectly beneficially owns any securities of the Company; (ii) has had any relationship with the Company in any capacity other than as a shareholder; (iii) knows of any transactions, or series of similar transactions, since the beginning of the Company's last fiscal year, or any currently proposed transaction, or series of similar transactions, to which the Company or any of its subsidiaries was or is to be a party, in which the amount involved exceeds $60,000 and in which any of them or their respective affiliates had, or will have, a direct or indirect material interest; (iv) is, or within the past year was, a party to any contract, arrangement or understanding with any person with respect to any securities of the Company; or (v) has any arrangement or understanding with any person with respect to any future employment by the Page 28 of 34 6 Company or its known affiliates or any future transactions to which the Company or any of its known affiliates will or may be a party. Other than the compensation regularly paid by the Company to its directors, the nominees will not receive any compensation for their services as directors of the Company. (v) Consent to Serve as Director. The consent of each nominee to serve as director of the Company is attached as Exhibit A. II.INFORMATION REGARDING OTHER BUSINESS PROPOSALS: Dyna Technology intends to submit the following additional proposals for action at the Annual Meeting: (i) Meeting Date Proposal. Winland Shareholders will be asked to approve the following proposal (the "Meeting Date Proposal") to amend the Winland Bylaws: RESOLVED, that Article 2, Section 2.1 of the Company's Bylaws is hereby amended by removing the first sentence therefrom and replacing it with the following sentence: "Regular meetings of the shareholders of the corporation entitled to vote shall be held on an annual basis as shall be determined by the Board of Directors or by the chief executive officer; provided, that the regular meeting shall be held in any event in each year no later than July 31." The purpose of the Meeting Date Proposal is to prevent the Board from unduly delaying future annual meetings in an effort to thwart shareholders' ability to advance proposals, including nominees for the Board. Although this resolution would not be effective for the Company's 2001 Annual Meeting, it assures that the Company will be calling annual meetings for the election of directors and other appropriate proposals on a timely basis. Article 2, Section 2.1 of the Bylaws currently provides that the Company's regular meeting shall be held on an annual or less frequent basis "as shall be determined by the Board of Directors or the chief executive officer." Therefore, in the absence of the adoption of the Meeting Date Proposal, the Board could delay an annual meeting for the purpose of delaying action on shareholder proposals or nominations for director. Under Minnesota law, if a corporation fails to elect directors within 15 months after the last election of directors, holders of 3% of the voting power of the corporation may demand a regular meeting and call such a meeting if the board of directors fails to call a shareholder meeting. Under applicable listing rules of the American Stock Exchange, a listed company is required to hold a shareholder meeting for the election of directors annually. The effect of the Meeting Date Proposal would be to eliminate the Board's discretion to move the date of any annual meeting past July 31. (ii) Bylaw Repeal Proposal. Winland shareholders will be asked to approve the following proposal (the "Bylaw Repeal Proposal") to amend the Company's bylaws: RESOLVED, (a) that Article 2, Section 2.2 of the Bylaws of the Company is hereby repealed; (b) that Article 2, Section 2.3 of the Bylaws is amended to remove the phrase: ",except that a special meeting of shareholders for the purpose of considering any action to directly or indirectly facilitate or effect a business combination, including any action to change or otherwise affect the composition of the board of directors for that purpose, must be called by 25% or more of the voting power of all shares entitled to vote." and replace it with a period; (c) that Article 2, Section 2.9 of the Bylaws is amended to read in its entirety as follows: Page 29 of 34 7 "Order of Business. The suggested order of business at any regular meeting and, to the extent appropriate, at all other meetings of the shareholders shall be: (1) call of roll (2) proof of due notice of meeting or waiver of notice (3) determination of existence of quorum (4) reading and disposal of any unapproved minutes (5) reports of officers and committees (6) election of directors (7) unfinished business (8) new business (9) adjournment;" and (d) that Article 9, section 9.1 of the Company's Bylaws is hereby amended by adding the following sentence at the end of such Section: "Any Bylaws adopted by the Board of Directors between March 6, 2001 and the date of the adoption of this amendment to Article 9 of the Bylaws are repealed." The purpose of the Bylaw Repeal Proposal is to repeal certain amendments to the Bylaws of the Company adopted on March 5, 2001, and to prevent the Board from adopting new bylaws between such date and the date of adoption of this proposal at the Annual Meeting. Minnesota law permits the Board to amend the bylaws, subject to the power of shareholders under certain circumstances to repeal or alter provisions adopted by the Board. On March 5, 2001, the Winland Board of Directors unanimously amended and restated the Company's Bylaws (the "Amendment"). Among other things, the Amendment created an obligation for any shareholder desiring to submit any shareholder proposal or any shareholder nomination to the Board of Directors to submit substantial information about the same to the secretary of the Company at least 60 days, but no more than 90 days, in advance of the date that is one year after the prior year's annual meeting of shareholders (the "Advance Notice Provision"). The Amendment also changed the ability of substantial shareholders to require the Company to call a special shareholders meeting. Previously, any shareholder holding 10% or more of all shares entitled to vote could call a meeting. As a result of the Amendment, this percentage requirement was changed to 25% if a purpose of the special meeting is to effect a business combination, including any action to change or otherwise affect the composition of the board of directors (the "25% Provision"). The Amendment also changed the bylaw relating to order of business at the meeting to grant substantial discretion to the chairman to set rules, regulations and procedures (the "Chairman's Discretion Provision"). For instance, the Amendment provides, among other things, that the chairman may establish rules and procedures, to the extent not prohibited by law to: limit attendance or participation in the meeting to shareholders of record and their duly authorized proxies; restrict entry to the meeting; and limit the time allotted to questions or comments by participants. These procedural matters could have the effect of prohibiting attorneys and other authorized representatives of shareholders and/or interested parties from attending the meeting or being heard. The proposed amendment to this provision would return the bylaw to substantially the form it was in prior to the Amendment. The Committee believes that each of the Advance Notice Provision, the 25% Provision and the Chairman's Discretion Provision were adopted specifically because of the Winland Board's belief that a shareholders' Page 30 of 34 8 committee such as the Committee would assert various proposals to influence the direction of the Company. The Advance Notice Provision has given Winland the opportunity to review, evaluate and react to the Committee's proposals, as well as made it far more costly and burdensome to advance its proposals and communicate with Winland shareholders. The 25% Provision could be deemed to have made it impossible for Dyna Technology to require the Company to call a special meeting to elect directors in the event the Winland Board were to delay calling the Annual Meeting for this purpose. The Chairman's Discretion Provision gives the chairman of the Annual Meeting (and future meetings of the shareholders) substantial discretion to prevent significant voices and interested parties, including five of the nominees on the Committee, from being heard by the shareholders. (iii) Bylaw Amendment Protection Proposal. Winland Shareholders will be asked to approve the following proposal (the "Bylaw Amendment Protection Proposal") to amend the Company's Bylaws: RESOLVED, that Article 9, Section 9.1 of the Bylaws of the Company be amended by adding the following sentence at the end of such section: "Notwithstanding the foregoing or any other provision of these Bylaws, any Bylaws adopted by the shareholders of this corporation shall not be amended or repealed by the Board of Directors." The purpose of the Bylaw Amendment Protection Proposal it to prevent the Board from interfering with the implementation of any proposals voted upon and approved by the shareholders by amending the Bylaws after such shareholder action is taken. The Company's Bylaws and Minnesota law permit shareholders to adopt, amend and repeal bylaws. The Board should be prohibited from ignoring the vote of the shareholders. III. DEMAND FOR SHAREHOLDER LIST Pursuant to Minnesota Statutes Section 302A.461, the undersigned hereby demands the right to inspect, itself or through its attorneys and agents, the Company's current stock register and a current list of its shareholders and to make copies or extracts therefrom. The undersigned is entitled to and demands as part of the foregoing demand for inspection: (i) a complete record or list of stockholders of the Company certified by its transfer agent showing the name and address of each stockholder and the number of shares of stock registered in the name of each stockholder as of the most recent date available; (ii) all transfer sheets showing the changes in the list of stockholders of the Company subsequent to the date of the most recent stockholder list referred to above which are in the possession or control of the Company or its transfer agent from the date of the list to the conclusion of the solicitation referred to below; (iii) all information in the Company's possession or control, or which can be reasonably obtained from nominees of any central certificate depository system, any bank, broker, or any other nominees concerning the number and identity of the actual beneficial owners of the Company's stock, including a breakdown of any holders in the name of any securities depository or nominees, and concerning the number and identity of employees of the Company entitled to direct the voting of any of the Company's common stock pursuant to any employee stock plan; (iv) all information in or which comes into the Company's possession or control or which can reasonably be obtained from brokers, dealers, banks, clearing agencies, or voting trustees relating to the name of the non-objecting beneficial owners of the Company's stock ("NOBO's") in the format of a printout in descending order Page 31 of 34 9 balance (such information with respect to brokers and dealers is readily available to the Company under Rule 14b-1 of the Securities Exchange Act of 1934). (v) a stop list(s) relating to any shares of the Company's Common Stock as of the date of the list referred to in the first paragraph of this demand. (vi) the information and records specified in paragraphs (i), (iii), (iv) and (v) above as of any record date for stockholder action set by the Board of Directors, by operation of law or otherwise. The undersigned will bear the reasonable costs of the Company in connection with the production of the requested information. The purpose of this demand is to permit the undersigned to communicate with other stockholders of the Company on matters relating to their interests as stockholders, including communicating with such stockholders regarding a solicitation of proxies to propose an alternate slate of nominees for election as directors of the Company, and furnishing to such stockholders copies of the undersigned's proxy materials. This demand should receive your immediate attention so that all of your stockholders will have the benefit of information concerning the solicitation to be made by the undersigned as promptly as possible. Please advise John C. Levy (612/342-0300) and Peter T. Shimabukuro (612/342-0385) where and when the requested information will be available to the designated agents of the undersigned. The undersigned hereby designates and authorizes Mr. Levy, Mr. Shimabukuro and Michael C. Karp (507/345-1166) and their respective partners and employees and any other persons to be designated by them, acting together, individually or in combination, to conduct the inspection and copying herein demanded. * * * Page 32 of 34 10 Please acknowledge receipt of this notice and demand by signing the enclosed copy hereof in the place indicated below. Very Truly Yours, Dyna Technology, Inc. By: /s/ Ralph I. Call ----------------------------------------- Ralph I. Call, President State of Utah ) --------------------------- ) ss County of Cache ) --------------------------- Ralph I. Call, having been first duly sworn according to law, deposes and states that he is the President of Dyna Technology, Inc. ("Dyna Technology"), that he is duly authorized on behalf of Dyna Technology to make the foregoing demands, designations, authorizations and representations contained in the foregoing notice of shareholder nominees and business proposals and demand for shareholder list, and that the facts and statements contained herein are true and correct. Dated this 14th day of March, 2001. /s/ Ralph I. Call - ------------------------------------------------------------- Ralph I. Call SUBSCRIBED AND SWORN TO BEFORE ME, this 14th day of March, 2001. /s/ Janet B. Garn - ----------------------------------------------------------- Notary Public Receipt of a signed and notarized copy of this letter on the 16th day of March, 2001 is hereby acknowledged by: Name: ------------------------------ Title: ----------------------------- Page 33 of 34 11 EXHIBIT A CONSENT OF NOMINEES Each of the undersigned hereby consents to serve as a director of Winland Electronics, Inc., if so elected. This consent may be executed in one or more counterparts, each of which shall constitute an original but all of which shall constitute one and the same document. For purposes of this Consent, a fax signature shall be deemed an original signature. Dated this 13th day of March, 2001. /s/ Ralph I. Call ----------------------------------- Ralph I. Call Dated this 12th day of March, 2001. /s/ Steven A. Fraley -------------------- Steven A. Fraley Dated this 13th day of March, 2001. /s/ Paul Holzhueter ------------------- Paul Holzhueter Dated this 13th day of March, 2001. /s/ James J. Kamp ----------------- James J. Kamp Dated this 13th day of March, 2001. /s/ Thompson H. Davis --------------------- Thompson H. Davis Dated this 13th day of March, 2001. /s/ Robert L. Ring ------------------ Robert L. Ring Dated this 12th day of March, 2001. /s/ Gerald E. Brown ------------------- Gerald E. Brown Page 34 of 34 -----END PRIVACY-ENHANCED MESSAGE-----