Replies to post #1714 on PowerLinx Inc (PWNX)

[dk76]

I'd have to check the agreement, but I believe the restriction comes off the debenture shares 12 months from the date the agreement was duly signed; not the date on the certificate.

I may be wrong, though.

[srsnetworker]

Does anybody know the procedure for getting the restriction off the certificates? I am holding the certicates myself. Is this something the transfer agent does automatically after the 12 months, or do I have to take some action. My debenture was converted to restricted shares back in December 99, so I am assuming they are tradeable in Dec 2000. Never dealt with this before, so any help would be appreciated. (I don't plan to sell right away, but would like to have the option.) -srs

[dk76]

I just checked, and the payable date is 12 months from the date on the Debenture.
If yours is the same as mine, you should have already received certificates. SEVU issued a memo (mine isn't dated!) sometime last Spring, saying that they were converting all debentures and certs would be issued.

I don't recall the exact date I received the certs, but it was probably early Summer.

BTW, someone from SEVU tried to convince me that the restriction comes off 12 months from the date on the certs. A quick read of the Debenture agreement proves otherwise.

I'm not selling mine, though, either.