Action on the Ameritrade buy ban?
Looks like something is happening. I just recieved the following e-mail from Ameritrade:
Dear Valued Client,
According to PANAMERSA Corporation/PayPro, Inc (PYPR), on December 20, 2006, all holders of PYPR stock would be entitled to receive "One square meter of the Corobici Wildlife Refuge, Canas, Guanacaste, Costa Rica, Central America, for every 10,000 shares of common stock" held. The company will be issuing what they refer to as "PDRs", which will represent beneficial ownership of this land.
In order for shareholders to receive the "PDRs", the company is requiring TD AMERITRADE to submit your personal information to PayPro, which includes but may not be limited to your name, address, phone number, and quantity of shares held on the record date.
However, at the time you opened your account (or sometime thereafter), you requested that TD AMERITRADE not give your personal information to companies in which you own shares. According to PayPro, they must issue certificates for the "PDRs" directly to the clients. These "PDRs" cannot be held by TDAMERITRADE in your brokerage account. Note: If your account is an IRA account, this dividend may be classified as a distribution from your IRA.
If you would like to receive this "PDR" dividend, you must contact the TD AMERITRADE reorganization and safekeeping department at 1-888-723-8504 (option #1) by March 2, 2007. This team is available Monday through Friday from 9:00 a.m. to 5:30 p.m. ET (excluding market holidays). TD AMERITRADE will then provide PayPro, Inc. with the information they request in order to process this dividend. TD AMERITRADE will share this information for only this dividend unless you request to have your account changed to allow us to disclose your information to other current and future companies of which you become a shareholder
Sincerely,
Bryce Engel
Chief Brokerage Operations Officer
TD AMERITRADE
AI
