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With respect, Loads, you have been very accurate on this stock over a long period, and I have learned a lot from you. But earlier this week (see message 688026), you suggested that the stick would close above 43.5, perhaps even at 45. What went wrong?
Thanks for that, I'm happy that anyone with COOP shares is making money, best of luck to them. My concern is purely to verify that there is NO connection between current COOP shares and my escrow shares. I happen to have COOP shares as well, but whether I keep them or not should be totally separate to anything that happens to my escrow markers. Best of luck to all.
Hi AZ,
I'm confused. I own escrow shares (markers for common and for preferred shares). I am waiting like everyone else for an end to come to these markers. Can you please tell me why owning shares in COOP today has anything to do with these markers that I received in 2012? Are you now saying that if I don't own COOP I will not benefit from my escrow markers??? That makes no sense to me. Are you saying that unless I invested in COOP over the last few years AND CONTINUE to own those shares, my escrows are worthless??? Please explain.
Borbash,
great info, thanks for that. I can't private message you.
Can anyone provide an email and preferably also a name and phone number for the trust. I want to try yet again to change the custodian of my escrow shares (P and Q). Thanks
Can anyone provide an email and preferably also a name and phone number for the trust. I want to try yet again to change the custodian of my shares. Thanks
Thanks to you and the others for answering. My situation is quite complicated in that I moved country but my escrow shares must remain with the broker that originally had my WMIH shares. It is very difficult to contact them at any time, so I was unsure what had happened to my ESC shares. I could move every other share, but now my escrow markers. It seems that, despite the claims to the contrary, these ESC are still in play and have NOT been cancelled. My only source of info is this board, so thanks to all who keep sharing what they know despite the naysayers. I don't pretend to understand much, but I have been lurking in the background since 2008, and still have dreams of meeting some of you in Vegas.
AZ, Lodas or anyone else with some actual knowledge, grateful for your views. I went to find my escrows recently. It’s a long story why I can’t view them so I won’t bore you with the details. At the same time, I wrote to ask whether it was worth my while to track down these escrows, and I got the by now standard response (there is nothing coming beck to escrows and they will be cancelled). However, when I found my escrows, I discovered that there were 7 COOP shares in my account that I know nothing about. I asked why, and I was told that six were given to me in October 2018 for a ‘share swap’, and one was given to me in January 2018 “due to a spin-off of the company”. This is all related to my escrows, nothing to do with any COOP holding. Well, at least I know that my escrows are still there. But does the giving of these COOP shares to an escrow holder (Q and P) tell us anything about any future resolution?
Lodas,
I'm assuming the drop is something to do with the 22.50 strike price you mentioned last week? Maybe it has to go below this for Friday, and we can start moving up again on Monday? Hope you can sense my impatience
On Corona, try not to get too worked up. The death rate has declined to about 1/10 of what it was, so either treatments are working or the virus is fading. There are many vaccines in play, AstraZeneca is just one, and by the way they are still able to continue their trials, even with the negative news from Brazil. The leader in the vaccine race at the moment is a Chinese vaccine, Coronavac. If you forget politics for a sec, I can tell you that the Chinese are really good at vaccines, and they have three of them at stage three trials. But the USA has a few as well, And the French and Indians are also working on stuff, so things are looking really positive for the Spring. Fear will kill more people than this virus. One of my favourite lines from a movie comes from "strictly Ballroom". She says (in Spanish) 'a life lived in fear is a life half-lived. Another book that I read occasionally says 'do not be afraid' at least 35 times.
Try to stay positive, this will pass.
Why are we stuck at $24? Lodas, is there a 'call' date or something?
Thanks to you and BB for replying. I guess I can talk to my broker, but i'm not too hopeful
Maybe i'll make enough out of them eventually to make it all worthwhile
Call WHO?? I wrote to the registrar (?), he says it can't be done. Who did it for you?
Yellow Seiko,
I emailed the trust last year, and they told me the escrow had to stay in the original bank. I emailed them again a few weeks ago, and they said the same thing. If you are sure that I can change broker without changing any other details, then please let me know. If I can use your case as a precedent, that would be great.
Thanks to all of you that responded. W3, I contacted Edgar Sargent, and he was very clear that he is NOT able to answer queries about escrow shares. Traderman, I am NOT interested in selling my escrow shares. I just want to put them somewhere that doesn't cost me money. I shouldn't have to pay $300 per annum just to have them sitting in a bank. I any case, my bank doesn't know the first thing about them. they are stuck in BNYMellon, not in my (European) bank. I don't want to change any detail, my name, my address, NOTHING. i just want to change broker. But apparently I can't. BB, if you can tell me how I can do this I would be very grateful.
Thanks again, and GLTA
who're ya tellin
Help me out here bro
while we're on the subject of checking your facts before you write, I saw a post that stated that Edgar Sargeant was the person to write to in relation to escrow shares. He isn't. He has been receiving a number of queries in this regard, which must be a pain for him. Mods, any chance you can watch for such posts? And if anyone can advise me on who CAN answer a query on escrow shares that'd be nice. I want to move mine. I have already paid $450 in administration fees on my escrow shares since last March. I have been told that they must stay with the same bank that held the original shares. This makes no sense to me. The original shares are gone, and in any case they were held by BNYMellon, not by my bank, who knew nothing about them. Why do I have to keep paying a bank for holding shares that they know nothing about? Why can't I just let BNYMellon hold them? Or someone else that knows at least something about shares.
Any suggestions?
Nah,
I'd rather just watch the board. It's much more fun.
But does that mean that I lose my thousands of (worthless) shares, or do they somehow now transfer to the new company, or do I keep checking the Alto price to see if they double in value to $4
TVM. Back to lurking
As an alto shareholder is there anythign I need to do to hold on to my POS shares following this takeover? Dunno how much my shares are currently worth. About $2 I think. Paid about $3,000 for them a few years ago. Not holding out any hope, but still don't want to get caught out simply because I didn't sign something.
Thanks for keeping people on this board properly informed.
Catz,
do I need to do anything for the upcoming shareholder meeting? Don't want to get caught like many others last year and lose my shares because I didn't sign a form.
GLTU
Why would I want to change broker, you ask? Because the $^*&£ sons of $%&£$es messed me around so much last Jamuary!! And I have to pay a fortune to them just to 'administer' my shares. I also had to pay a few hundred to change broker. This from a bank that appears to know ZIP about how the process works!!
Sorry. Just sounding off. I'll find some happy pills now.
I was told that I MUST keep my escrow account with the old broker. I wanted to change, and indeed I did move all of my other shares, INCLUDING my new WMIH shares, but I had to leave the 'old' shares with the old broker. I think it was the company (David) that told me this, but maybe it was the new broker. Whoever it was, they said that the only way the company has of paying anything based on old shares was to lock them in to the broker that was there on the day of the transfer (sorry if this is not technically correct, but more or less that is the reason). It's a nuisance, because I got totally messed around by the bank I was with, and now I am stuck with them
Is the distribution for anyone that owned common shares on the effective date, or only for those who owned stock prior to September 2008? I'm guessing it is for all class 22 holder as of the effective date earlier this year, and that it goes into my escrow account?
TIA
All I know is that my shares are now worth 20% of what they were worth before the re-organization of shares earlier this year. And at that stage, my shares were only worth 1/35th of what I had bought them for 3 years ago! So now they have lost 99% of their value!!! No amount of PR or sales data is going to change that.
That makes sense (as usual) TVM
My bank has found my shares. Isn't that nice of them? However, they now think that I have THREE sets of share - newco, WAMUQ, and WAMPQ. The two old sets are still showing in my account!!! Maybe I can ge BBVA to buy them from me (with WAMPQ at the old face value, of course). Any of you guys got a bridge you'd like to sell them?
Thanks Philip,
David already answered, and said things can be slow getting through the layers of brokers. Don't worry, i've got TONS of paperwork, and if they screw this up, i'm going to court! Chaarles, quieres apuntar?
As far as i'm concerned, there are no shares there to be unlocked. After all, WAMUQ and WAMPQ don't exist anymore. But they told me that they were unlocked, still showing separately as WAMUQ and WAMPQ, and still showing the same amount of shares as previously. Back to writing grumpy letters and interminable phone calls
I haven't received my new shares yet. I spent MONTHS fighting to get my vote sent, and was assured that all had been done. I was told that my shares were locked. Now it seems that they are unlocked again, but the numbers haven't changed (i.e. I stil have the same amount of WAMUQ and WAMPQ as previously...............). Is this just more Spanish maladministration or am I in real trouble?
only thing happenin here for 6 months or so is a few bagholders keepin an eye on the share price. No news from the company, apparently no response to queries either. Another day in penny-land
time to send a reminder?
He is gone, and he is gone for good.
Does that mean that my shares that I bought at 0.65 might actually be worth something sometime in the next 3 years? Will I even get back 10% of my investment? Even 1%????
Didn't think so.
That link worked fine, TVM
Catz,
my PC blocked the download of your file. Said there was a trojan horse. Is there any other way I can get it?
Beat me to it
Stay safe and GLTU
Relax, Mypenneys, we're all gettng a little edgy over the whole process. Hopefully we'll all be friends at the end of this fiasco. Just keep in touch with your broker until the process is finished (i.e. ensure your shares are 'locked' after your vote). If you have any issues with the ballot, get your broker to tell you what to do. They are the ones that have to make the return on your behalf, so they need to clarify what you have to do. Just get them to do their job.
GLTU
Human nature
You tried to help them. Let them make their own choices.
ASk Fidelity. they are the ones that will have to report your vote on each set of shares back to KCC.
Just ask them. Your broker needs to keep a record of your vote. They must decide how they are doing that. They may accept scanned ballots by e-mail, they may ask you to fax them, they may insist on you posting them. I don't think it matters to KCC. They have their own requirements that the broker has to comply with. It's up to the broker to tell you their own set of rules for their shareholders. Just ask.