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Gold/Mining/Energy : Arcon Energy (MIDL Presently) The Ultimate Sleeper
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To: Binder who wrote (1150)5/27/1998 4:55:00 PM
From: Islander  Read Replies (2) of 4142
 
Just spoke to Pershing (NDB) re cash accounts/warrants. If you have any security (stock/warrant) in a cash account it cannot be loaned out. Interestingly, the spokesperson also said that a warrant is not a marginable security, therefore could not be loaned out for shorting anyway. As for the record date/settlement date brouha, you can buy up until the record date, but have to hold the security through the ex-dividend date in order to receive the dividend; but as of this time Pershing had no official notice of of an ex-div date for this security nor a record date. Sorry to muddy the waters further, if I am, but there you go..I have tried to reach Arcon twice for clarification, but still have not had anything confirmed. The press release is it, I guess for now i.e. record date is 29 May, ex-div date not mentioned. Personally, especially at these levels, the P is the deal of the day anyway, with or without the dividend, so I would just buy it!
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