Thanks for the quick response "P".

It is not the account custodian that is the problem.

The Grace Preferred is the B pfd and for some reason it was designated as 144 stock. That means it has a restrictive legend that has to be removed before the shares can be delivered in good order.

Computershare is the transfer agent.

They acknowledge that there is 144 grace Pfd. stock.
They do not know the who ,what, where, when how and why?
They have a blanket legal opinion from the company which will permit the removal of the restrictive legend.
My custodian needs to deliver the CERT to Computershare and they will process and return a clean cert that can be delivered in good order should I sell.

Calling Grace Acq. is futile. They do not return phone calls.

Was wondering if anyone was familiar with the 144 restrictive legend. I am at a loss as to why this was done.

Thanks again

The Tip

Have been following this saga for years despite having only a few hundred shares.

Apparently, for some unknown reason, my shares had a restrictive legend placed on them making it impossible to trade them until it is removed.

Since the shares are in an IRA, I do not have physical possession. The custodian has requested a whole bunch of paperwork and is indicating that I may face a $1000.00 fee for their work. The entire position is 400 shares.

Anyone else have a restrictive legend?
Anyone else have such a legend removed?
Anyone know when the legend was added?

Any advice appreciated.

Regards

The Tip