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Gold/Mining/Energy : Medinah Mining Inc. (MDHM) -- Ignore unavailable to you. Want to Upgrade?


To: Ken Sammut who wrote (15895)6/22/1999 6:22:00 PM
From: Coz  Read Replies (2) | Respond to of 25548
 
I spoke with my broker at Waterhouse today. Last week he told me my Medinah Gold shares would be delivered on Friday. This week, things are a little different. He said he spoke with their Corporate Actions department today and was told that they don't have the shares yet because these shares are not registered under the Exchange Act of 1933. In order for a brokerage to handle these share they would either have to be registered under that act or exempted. He said that the brokerage was working on getting the shares transferred over to them so they could distribute them to the shareholders, but without registration under the Exchange Act of 1933, the shares are not transferable and cannot be sold. So, he's not sure how this is going to work, and thinks the shares may come directly to me instead of them when the shares are available. He went on to say, he's never seen anything like this before and finds this quite interesting, and plans to keep on top of this issue until it's resolved.

It is amazing how complicated this simple little dividend is becoming as the brokerages try to distribute it.

--Coz



To: Ken Sammut who wrote (15895)6/22/1999 9:52:00 PM
From: Handshake™  Respond to of 25548
 
To all:

It seems that SI will have a beta site being tested here shortly. My guess is just maybe it will emerge with an ignore button...So remember these days when we have to put up with the bashers and the day when we'll look back at 'em and miss then dearly..lol!!!!!!



To: Ken Sammut who wrote (15895)6/23/1999 8:34:00 AM
From: Dave D'Biker  Read Replies (1) | Respond to of 25548
 
To All National Discount Brokerage Account Holders:

I had a lengthy conversation with a NDB agent (broker) regarding my Medinah Gold Dividends which are in street name. I asked for delivery and was told that they could not be delivered since the Company had put a freeze on them. I emphatically expressed my concerns, especially about the $75 dollar amount they wanted to charge for the delivery. I asked why and he stated that the dividends would have to be sent back to the DTC. I told them that I didn't believe they had the certs, but only a credit of such to my account and that I wasn't going to pay on something NDB said they have without documentation that the certs were in my name, including my account number on them. He had to put me on hold at least three times, having to hang up and call back after confirming these issues with management.

He restated that the dividends were frozen that it was up to the company to lift the freeze. I then demanded a letter be sent to me stating such. Again I was put on hold. Later, the agent called back assuring me a letter would be sent stating NDB, DTC and MDHM management's current position.

The letter from NDB stating the following conditions is as follows:

"I am writing in response to your letter regarding the transfer requested on May 5, 1999. The xx,xxx shares of Medinah Gold that you requested to be registered in your name and delivered to your address of record can not be expedited at this time. Unfortunately, the shares are restricted dividend shares currently held at the Depository Trust Co.(DTC). According to DTC the shares issued by Medinah Gold Co. are currently frozen for delivery. However, the Medinah Gold shares are in book entry form in your account and you will be able to see them on your statement........................."

dd