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Wednesday, February 22, 2012 8:31:32 PM
Just a brief update so that you are kept informed of each and every step.
Thank you all for your support. The Company now holds a very clear super majority and will be progressing as contemplated. However one byproduct of the transaction is that more and more shareholders have approached offering previously uncounted shares for sale. The number of shares now counted for the transaction is increasing significantly and has resulted in the real possibility of the Company purchasing all the shares on the market. Therefore I would like to thank you all again for ensuring that the shareholders are aware of the program and in encouraging them to offer their shares for sale. It would be an interesting time if all of the shares or more were purchased and we are within 3MM of that fact. I will keep you all posted on the figures as we proceed but if there are more shareholders willing to participate, they will now make a real difference.
DTCC have informed me that if a Broker holding EIGH.pk is a DTCC participant and uses DTCC custodial services, then the purchase of the shares can be undertaken electronically without the need for exorbitant fees for the delivery of physical certificates. This has been shown to be the case by some brokers already who have acknowledged the process.
I have written to those brokers who are currently insisting that the only way to undertake the transaction is through the physical delivery of certificates which is clearly not the case as conformed by the single authority on stock transfer (DTCC).
I will advise as things progress.
Jonathan
Please research all stocks before investing. My posts are my opinions and are not buy or sell recommendations. Always force abusive short sellers to cover above what you paid. Build wealth for fellow iHub'ers!
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