Do you own SLSE dividend shares? If so, you must take action IMMEDIATELY. SLSE is doing two things:
1) A reverse split – as of January 15th they will be REMOVED 99/100 shares you own. VERY BAD.
2) A conversion of common to preferred shares – but your shares need to be submitted to Florida Atlantic Stock Transfer by this Friday, January 12th!
Sending stock certificates takes 3-4 weeks, and is not possible. BUT – I just called TD Ameritrade, and they can make the switch today in their system, and overnight it to the transfer agent tomorrow. It will get there on time if you act NOW. Here’s what you need to do:
1) Call your broker of SLSE dividend shares. If it’s TD Ameritrade, call you need to talk to their “Re-org and Safekeeping” department now. 1-888-723-8504. Main line is 888-871-9007, but will take longer.
2) Tell the Re-org and Safekeeping department to IMMEDIATELY transfer your common shares of SLSE to preferred shares. There will probably be a $30 fee. Do NOT have the certificate sent to yourself; it should go directly to:
Florida Atlantic Stock Transfer
7130 Nob Hill Road
Tamarac, FL 33321
Fax 954-726-6305
Phone 954-726-4954
I wish SLSE had provided this information, but… it’s not in their best interest. The more people that get hit with the RS the better for them, the lower the authorized shares will be. Good luck…!
