Lee: As far as I know, the closing date has not been reached on the ITCO/INCE deal, so the clock has not started ticking on the one year restricted period, after which INCE shareholders receive ITCO shares. Subsequently, if anyone wanted to increase the number of ITCO shares they get (based on the 1:5 ration).....buying more INCE shares would accomplish that.
Re: the process of distribution. I'd call Metzinger directly, and get it straight from the source rather than speculating on the SI board. 303-592-1010. Given your situation (past frustrations over this kind of stock distribution) with EDVC/INCE, perhaps that's a call you would volunteer to make, and then you could post the results of your conversation on the board for everyone's benefit.
Bill
<<<As an EDVC shareholder, I have some questions regarding the distribution and the issuance of shares in Mr. Neild's new company, ITCO. Specifically, how will these shares which are restricted for one year be handled? Will INCE go ahead and distribute all 5 mil. shares at some point? Otherwise, voting shares will not be in the hands of stockholders after the year is up. Also, what is the effective date of ownership for INCE holders to gain the restricted stock?
Trying to play catch-up today.
Lee>>> |
