Dr Bill: Their intention?
"CTT also clarified today that despite the delay in completing filings to re-establish SEC Reporting compliance, the record date announced on March 30, 2006 for shareholders of Grifco to receive dividend shares of CTT has not changed. Shareholders of GFCI who owned their shares as of close of trading on May 1, 2006 (regardless of settlement date) will receive 1.89 shares of CTBG for every 1 share owned of GFCI."
That's their full intention! And just in case you still have a bit of trouble understanding the "clarification": It's very obvious that because they say "regardless of settlement date" that shareholders could have purchased shares of GFCI as late as 16:00 EST on Monday, May 1 (or Record Date), and still have gotten counted right along with other shareholders to get that dividend.
Further, it's very obvious that because they say shareholders "will receive 1.89 shares of CTBG for every 1 share owned of GFCI" that shareholders of record could have sold out of their entire position as early as 09:30 EST on Tuesday, May 2, and still been able to keep that dividend.
However noble their intention, though, I still feel rather strongly about the fact that their intention MUST be communicated to and declared effective by the NASD. It is the NASD who governs stock dividends for OTC securities, and as far as I understand it, the NASD has the very last word. And because they do have the last word, I do feel there's some infinitessimal measure of risk for change. It is just that slim chance that has compelled me to HOLD on tightly to my shares.
Show me the pudding!
Been_Burned_Before
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