Letter to DTCC from GMC Holding, Corp.
October 26, 2006
Depository Trust Corporation
55 Water Street
New York, N. Y. 10041
Stock Transfer Operations Supervisor:
On September 27th GMC Holding Corp. (GMC) sent a final notice to both brokerages and the DTC to request the issuance of (GMC) shares held in street name and registered in the name of CEDE (copy enclosed). There has been limited cooperation over the past several months, however over four hundred (400) people have yet to receive a (GMC) stock certificate transferred into their name. I have personally spoken to many back office brokerage operations and DTC personnel on multiple occasions asking for their assistance in resolving this issue. We cannot continue to operate with this reduced level of cooperation. We are being held hostage and it has significantly affected our company’s ability to go forward with our spin-off entity through issuance of shares and the scheduled dividend.
Therefore, effective November 15, 2006 we will no longer accept requests from the DTC to transfer shares of (GMC) registered in CEDE’s name to broker/dealer’s clients. All individuals who have brokerage statements reflecting ownership of (GMC) in street name and have been unsuccessful in their request for certificate shares will be advised to take legal action against their brokers and DTC.
We have begun the process of filing complaints with the SEC, NASD, The Senate Committee on Banking and the Government Accountability Office.
GMC Holding Corp has been a privately held company since March, 2006. We have made several formal requests for action. It is your duty to assist with this process which is necessary to identify the individuals that are due these distributions.
Please advise us immediately of your plan for handling this critical situation.
Richard D. Brace
President & CEO
