From Raging Bull Board
By: oreodiamonds
03 Apr 2007, 07:12 PM EDT
Msg. 28177 of 28177
Dividend update from Broker
Dear XYZ:
Thank you for your patience in waiting for my reply. In review of your account, my research request regarding the xxxx shares of Great
West Gold Inc. (GWGO) held in your account has been processed.
Our Reorganization Department has determined that the spin-off
announcements are pending based on a number of items. The first is the Nasdaq Ex-Dividend Date ruling, if any. Next is the Depository Trust Company (DTC) receipt of payment of shares from the Transfer Agent responsible for the transactions. Lastly, necessary verification of terms of the spin-offs, such as rates and restrictions, if any. Once all of the above mentioned is completed, DTC will announce and allocate the shares to GWGO shareholders.
The DTC is a member of the Federal Reserve System, and is a central
securities repository where stock and bond certificates are exchanged. Therefore, in conclusion, there are a number of steps that need to be completed before shares are delivered. If and when we receive shares, we will allocate them to client accounts.