Crosspost from the RB:
By: KAA_the_XXVII
Reply To: 11152 by columcille Thursday, 16 Dec 1999 at 2:05 PM EST
Post # of 11519
Ok I see there needs to be some clarifications, you guys are asking all the right questions... rightly so.
Being certified, you have possession of the stock, all correspondences come directly to you... not through your brokerage. Some of you should remember some of fun with things your broker sent it to you after the fact, like warrants, the warrant exchange, in some cases the last proxy, didn't get to some of you in time.
Any person or any group that owns or controls over 10% can call for a proxy vote. Some times numerous calls and proxies... those of you that have been through these takeover things know what I am talking about.
If your proxy is lost in the system and is not counted in time, then you don't count... it doesn't matter if you own .0007% or 70% of the company. Whatever is counted by the transfer agent at the time of the deadline, is the FINAL COUNT Be it only .10% of the shareholders that voted.
As I said you can sit on street name and the info could possibly not get to you on time. Or you get certified and get it immediately, or at least until all this passes.
If it really gets serious, there won't be no second chances, no one will be cutting you or your brokerage any slack this time... If you get burned by a brokerage, then you have no one to blame but maybe the brokerage.
KAA
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