Feb 24th, 2012, 8000 Inc Shareholder Update
To avoid any confusion the following is issued to the shareholders as simple direct points and actions.
1. The Company has received written confirmation of currently held stock of 8000 Inc (EIGH.pk) to a total of 165,036,818 shares. This number of shares is confirmed through share purchase and transmittal documents and shareholder account records and is being validated for a third time.
2. This number of shares has been recorded from 208 shareholders to date and the Company has, as a consequence of its findings, reached out to all shareholders to ensure absolute clarity of the facts which will be announced shortly.
3. During the contemplated privatization process, the Company has discovered a demonstrable discrepancy in the number of shares sold to shareholders. Thus the Company needs to be clear on who owns the shares of 8000 Inc and where they are held.
4. Based on the above, the Company is verifying at all levels the number of shares associated by shareholder to individual brokerage.
5. The Company has communicated with DTCC on the sale and purchase agreements and Letters of Transmittal. DTCC have stated that the first action should be directly with the brokers as they described which is available to be undertaken at DTCC custodial Services without the need for the issuance of physical certificates or the associated costs for all participating DTCC Broker members who use DTCC custodial Services. On this point, the shareholders need to issue their Sale and Purchase agreement and Letter of Transmittal directly to their brokerage. DTCC have stated that if we encounter any difficulties we should revert back to them.
6. The Company has contacted the major brokerages who have traded EIGH.pk, to inform them of this fact and we are awaiting responses.
7. So far, only one brokerage has instructed their clients (the shareholders of 8000 Inc), that they can only undertake the transaction through physical certificate issuance which is clearly not as indicated by DTCC but may be a personal choice by the individual brokerage specifically in the case of 8000 Inc. The Company has requested clarification of this matter.
In order to help expedite the process, the Company has only one request before issuing its findings and subsequent requests for remedy based on the shareholders data. We ask any shareholder participating, or in fact any shareholder who wishes to help, that they reply to this e-mail to state where they hold their stock. We do not need screen shots or any additional information.
The Company would like to thank all those shareholders who have supported the action and there will be a formal announcement Monday, February 27th 2012. Instructions for the transmittal will be issued to all brokers next week after this final assessment and share ownership validation.
Yours,
8000 Inc
Jonathan Bryant
