That's the only change, so far, in the draft 1.3 at this time. I'll post either "quick updates" like I did if I think it's important to get it out soon, or 1.3 will come out soon enough -- so far, I'm averaging a new 1.xx every 2 or 3 days. Basically as enough gets collected to make it worthwhile....
And the Q&A, I thought was pretty darned clear. One thing we learned is that as a "shareholder", KCCLLC is an "information resource" only.
They CANNOT and DO NOT, provide any voting services for shareholders.
Every single ballot (P/K's H's) that in the past were sent by shareholders to KCCLLC were invalid. Doesn't work that way. Only brokers, with "Master Ballots" vote summaries via KCCLLC.
Not individuals.
It's 100% via your "Beneficial Ballot" that comes from your broker. And back from you to your broker, and your broker then summarizes into a "Master Ballot" and puts your shares into a DTC-election account.
It's that last part that's key -- KCCLLC can't do that, therefore they don't process shareholders votes.
Q&A goes into this from multiple directions.
And the EC Press Release (in the stickies) is VERY clear on this as well.
You can't use KCCLLC as a shareholder. But KCCLLC is who your Broker *MUST* contact.
21c) Ok, just exactly WHY can't I vote via and/or directly with KCCLLC?. This whole broker process seems stupid, complicated, etc?
The fundamental reason is that KCCLLC can't lock your shares and put them in the right DTC-election Contra-CUSIP account. PERIOD. Only your broker can.
A share voted, that cannot be placed into the DTC-election account, doesn't count as a vote or a "release". PERIOD.
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