Compact Connection (TSIG) - The next CDNW? Message Board

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Microcap & Penny Stocks : Compact Connection (TSIG) - The next CDNW?

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To: Herring who wrote ()	8/4/1998 3:25:00 AM
From: Steve Lin	of 1574

Comprehensive Report on TSIG - Exhibit 5C: Section VI of Security Act of 1933 : Employee Benefit Plans, Release #6188 ====================================================================== I'm including the cited Section VI parts in this header, the full document follows the header: "....VI. RESALES BY PLAN PARTICIPANTS A matter of major concern to participants in a pension or profit-sharing plan is the tradeability of securities received by them under the plan. That is, can the securities be freely resold without restrictions or not? The next two sections will attempt to resolve the uncertainty that may exist regarding this issue. A. Registered Plans Many plans register the securities offered and sold by them on Form S-8 or some other appropriate registration form under the 1933 Act. n176 Generally, such securities are freely tradeable upon distribution to participants, unless the person acquiring the securities is an affiliate of the issuer. Thus, participants in a registered plan who do not have a control relationship with the issuer may resell the shares or other securities acquired by them under the plan without any restrictions. n176 See Part VII for a discussion of the various forms that can be used under the 1933 Act for the registration of securities offered and sold by plans. Affiliates are in a somewhat different position because their control relationship with the issuer subjects them to the same disabilities regarding registration that [*103] would attach to the issuer if it tried to sell the securities. Such persons may resell their shares publicly either pursuant to an effective registration statement or pursuant to Rule 144 n177 under the 1933 Act. Affiliates also may resell the securities in a private transaction, n178 provided it is understood that the purchaser is acquiring restricted securities which are subject to the same limitations on resale that applied to the seller......" ====================================================================== Guys, I can't post the full Act, SI won't take such a large post I will send it via e-mail to whoever requests for it ======================================================================

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