Post by Bart on Oct 12, 2004 20:14:14 GMT -5
TEXT ;D ;D
From another board: FWIW.
Ameritrade Dividend Info Update...
Subject: Re: Reorganization and Dividends:
Inquiry (KMM22721772I20725L0KM)
Date: 10/12/2004 5:55:43 PM Eastern Daylight Time
From: clientservices@ameritrade.com
Thank you for contacting us today concerning dividends to be paid to CMKM shareholders.
Preliminary information indicates a dividend of CIM shares to shareholders of record on 8/31/04, payable 10/18/04, at a rate of 0.0256 for each CMKX.
There are also indications that a spinoff of GEMM shares will distributed. Preliminary indications are that this dividend will be paid to shareholders of record on 10/1/04, with an anticipated payable date of 11/15/04. A rate of 0.00012267 of GEMM per share of CMKX has been indicated.
At this time, we have received no information indicating shares of SGGM or WMC or a cash dividend will be paid to CMKM Diamonds shareholders.
If you have further concerns or inquiries, please reply to this message.
Sincerely,
Jason Becker
Reorganization and Safekeeping, Ameritrade
Division of Ameritrade, Inc.
About UCAD Dividend...
At this time, CMKX has not officially notified Ameritrade that the fractional shares will be rounded up or cashed out. Once Ameritrade receives the instructions for the partial shares with payment, we will credit your account accordingly.
Joy Busse
Reorganization and Safekeeping, Ameritrade
Division of Ameritrade, Inc.
Thank you for contacting us today regarding CMKX.
For CMKX, the spin off rate was .00000962:1 for restricted shares of US Canadian Minerals Inc. The old rate was .0000155:1. The record date was 8-20-04. This means your CMKX buy trades needed to settle on or before 8-20 in order to receive the spin off shares. The payable date was moved from 9-24 to 10-6.
At this time, CMKX has not officially notified Ameritrade that the fractional shares will be rounded up or cashed out. Once Ameritrade receives the instructions for the partial shares with payment, we will credit your account accordingly.
Restricted means that the shares are not registered with the SEC for trading availability. Once the shares are registered, a valid symbol would appear. Ameritrade does not know the anticipated time frame or details pertaining to the restriction at this time.
If you have any questions and wish to contact us via e-mail, please log into your account and send your inquiry using the "E-mail Us" link which can be found in the navigation bar at the left side of any page within your account. Select the Reorganization & Dividend Inquiry Form.
Joy Busse
Reorganization and Safekeeping, Ameritrade
Division of Ameritrade, Inc.
Original Message Excluded:
-------------------------
on Today at 6:24pm, hoby111 wrote:seth, ameritrade's fee is $250.
i personally use power etrade, but i know several other ameritrade users who said the $250 applies. apex, i'm not sure. FYI, here is some info from etrade explaining the nature of restricted stocks and what must take place to remove the restriction:
When there are restricted securities in your account, you'll see an asterisk (*) next to the security on your account statement with a notation at the bottom of the statement that the securities are restricted. Restricted securities have not yet been cleared for trading. You may have restricted securities that will eventually become unrestricted, such as stock options that must be held for a number of years before you can exercise them. Just because the time is up does not mean the restriction is automatically removed. Research must still be initiated and paperwork completed to actually remove the restriction.
Who can remove the restrictive legend from a restricted security?
Only the issuer's transfer agent can remove a restrictive legend. The agent, however, typically can't remove a restrictive legend without the issuer's consent, which in some circumstances may require an opinion letter from the issuer's counsel.
How long it takes to remove the restrictions on a security
It usually takes three to six weeks to remove a restriction, although sometimes it can take longer, depending on the level of coordination among the company's corporate counsel, the stock plan administrator, and the transfer agent.
How much it costs to remove a restriction
Restricted Securities Custody - $150
Whether I have to sell a security to remove the restriction
Many, but not all, restricted securities must be sold before you can have the restrictive legend removed. The SEC's Rule 144 requires that you sell a restricted security in order to have the restrictive legend removed. Rule 144(k) allows you to remove the restriction without selling first. For more information, see Learn about Rule 144 and Rule 144(k).
How to sell a restricted security
To place a sell order, you must call one of our Financial Service Associates at 1-800-ETRADE-1. (We do not charge a fee for placing broker-assisted trades in such sales since you can't place these sell orders yourself). Also see the Help topic Sell a restricted security.
Rule 144
The SEC's Rule 144 requires that people who own restricted or control securities sell them only in limited quantities, and that all such sales be reported to the SEC by filing a Form 144, Notice of Proposed Sale of Securities. Restricted securities must be held for a minimum of one year before they can be sold.
Under Rule 144, you must sell a security to remove the restrictive legend until the expiration of a two-year holding period. The rule opens a three-month window to allow for the sale of your restricted stock, but it can't be used to remove the restriction on stock you don't intend to sell. Again, all such sales must be reported to the SEC by filing Form 144.
Rule 144 mandates holding periods and/or resale conditions before you sell your restricted security.
Note: The total sales of your restricted security over any three-month period may not exceed the greater of one percent of the total outstanding shares of the same class at the time of sale, or for listed and Nasdaq stock market securities, the average weekly trading volume in the security over the past four weeks.
Rule 144(k)
Rule 144(k) allows non-affiliates to resell restricted securities without any restriction. Rule 144(k) does not require you to sell before you remove a restriction.
You may qualify for Rule 144(k) and can apply to have your shares cleared for sale if:
You have held the restricted securities for at least two years following payment in full.
You have not been an affiliate for at least three months.
You do not live in the same household as an affiliate.
You meet the requirements of the transfer agent and the issuing company.
Note: You will be required to provide information and documentation to show your qualification for Rule 144(k).
;D ;D
From another board: FWIW.
Ameritrade Dividend Info Update...
Subject: Re: Reorganization and Dividends:
Inquiry (KMM22721772I20725L0KM)
Date: 10/12/2004 5:55:43 PM Eastern Daylight Time
From: clientservices@ameritrade.com
Thank you for contacting us today concerning dividends to be paid to CMKM shareholders.
Preliminary information indicates a dividend of CIM shares to shareholders of record on 8/31/04, payable 10/18/04, at a rate of 0.0256 for each CMKX.
There are also indications that a spinoff of GEMM shares will distributed. Preliminary indications are that this dividend will be paid to shareholders of record on 10/1/04, with an anticipated payable date of 11/15/04. A rate of 0.00012267 of GEMM per share of CMKX has been indicated.
At this time, we have received no information indicating shares of SGGM or WMC or a cash dividend will be paid to CMKM Diamonds shareholders.
If you have further concerns or inquiries, please reply to this message.
Sincerely,
Jason Becker
Reorganization and Safekeeping, Ameritrade
Division of Ameritrade, Inc.
About UCAD Dividend...
At this time, CMKX has not officially notified Ameritrade that the fractional shares will be rounded up or cashed out. Once Ameritrade receives the instructions for the partial shares with payment, we will credit your account accordingly.
Joy Busse
Reorganization and Safekeeping, Ameritrade
Division of Ameritrade, Inc.
Thank you for contacting us today regarding CMKX.
For CMKX, the spin off rate was .00000962:1 for restricted shares of US Canadian Minerals Inc. The old rate was .0000155:1. The record date was 8-20-04. This means your CMKX buy trades needed to settle on or before 8-20 in order to receive the spin off shares. The payable date was moved from 9-24 to 10-6.
At this time, CMKX has not officially notified Ameritrade that the fractional shares will be rounded up or cashed out. Once Ameritrade receives the instructions for the partial shares with payment, we will credit your account accordingly.
Restricted means that the shares are not registered with the SEC for trading availability. Once the shares are registered, a valid symbol would appear. Ameritrade does not know the anticipated time frame or details pertaining to the restriction at this time.
If you have any questions and wish to contact us via e-mail, please log into your account and send your inquiry using the "E-mail Us" link which can be found in the navigation bar at the left side of any page within your account. Select the Reorganization & Dividend Inquiry Form.
Joy Busse
Reorganization and Safekeeping, Ameritrade
Division of Ameritrade, Inc.
Original Message Excluded:
-------------------------
on Today at 6:24pm, hoby111 wrote:seth, ameritrade's fee is $250.
i personally use power etrade, but i know several other ameritrade users who said the $250 applies. apex, i'm not sure. FYI, here is some info from etrade explaining the nature of restricted stocks and what must take place to remove the restriction:
When there are restricted securities in your account, you'll see an asterisk (*) next to the security on your account statement with a notation at the bottom of the statement that the securities are restricted. Restricted securities have not yet been cleared for trading. You may have restricted securities that will eventually become unrestricted, such as stock options that must be held for a number of years before you can exercise them. Just because the time is up does not mean the restriction is automatically removed. Research must still be initiated and paperwork completed to actually remove the restriction.
Who can remove the restrictive legend from a restricted security?
Only the issuer's transfer agent can remove a restrictive legend. The agent, however, typically can't remove a restrictive legend without the issuer's consent, which in some circumstances may require an opinion letter from the issuer's counsel.
How long it takes to remove the restrictions on a security
It usually takes three to six weeks to remove a restriction, although sometimes it can take longer, depending on the level of coordination among the company's corporate counsel, the stock plan administrator, and the transfer agent.
How much it costs to remove a restriction
Restricted Securities Custody - $150
Whether I have to sell a security to remove the restriction
Many, but not all, restricted securities must be sold before you can have the restrictive legend removed. The SEC's Rule 144 requires that you sell a restricted security in order to have the restrictive legend removed. Rule 144(k) allows you to remove the restriction without selling first. For more information, see Learn about Rule 144 and Rule 144(k).
How to sell a restricted security
To place a sell order, you must call one of our Financial Service Associates at 1-800-ETRADE-1. (We do not charge a fee for placing broker-assisted trades in such sales since you can't place these sell orders yourself). Also see the Help topic Sell a restricted security.
Rule 144
The SEC's Rule 144 requires that people who own restricted or control securities sell them only in limited quantities, and that all such sales be reported to the SEC by filing a Form 144, Notice of Proposed Sale of Securities. Restricted securities must be held for a minimum of one year before they can be sold.
Under Rule 144, you must sell a security to remove the restrictive legend until the expiration of a two-year holding period. The rule opens a three-month window to allow for the sale of your restricted stock, but it can't be used to remove the restriction on stock you don't intend to sell. Again, all such sales must be reported to the SEC by filing Form 144.
Rule 144 mandates holding periods and/or resale conditions before you sell your restricted security.
Note: The total sales of your restricted security over any three-month period may not exceed the greater of one percent of the total outstanding shares of the same class at the time of sale, or for listed and Nasdaq stock market securities, the average weekly trading volume in the security over the past four weeks.
Rule 144(k)
Rule 144(k) allows non-affiliates to resell restricted securities without any restriction. Rule 144(k) does not require you to sell before you remove a restriction.
You may qualify for Rule 144(k) and can apply to have your shares cleared for sale if:
You have held the restricted securities for at least two years following payment in full.
You have not been an affiliate for at least three months.
You do not live in the same household as an affiliate.
You meet the requirements of the transfer agent and the issuing company.
Note: You will be required to provide information and documentation to show your qualification for Rule 144(k).
;D ;D