RE: 1 for 2 r/s from IEX sharesThis stock resumes retail trade on Friday after Tek shares are issued, Thurs at the earliest... Brokerages receive them and then convert them into your account.. You can't trade iex shares. Look for crazy share price swings on low volume till then. MM's...
This is what I gather from the info. provided
It looks like a 3for2 reverse split. Could be wrong? Don't know where the new inex will trade, if at all?
It will take 3-10 Business days for the TKM shares to appear in your account. Your Broker will do the work automatically for you if your physical or electronic shares are with him.
If you physically have the share certificates with you & not your broker then you have to do all the work.
INEX had mailed a letter to all the registered IEX holder's or their agents or their broker's. BTW , Who is your Broker ??? He should be atleast aware of the spin-off..even if the account is not updated yet.It might show IEX for a week or so before it starts showing TKM & gets automatically updated.
TJTHEMAN.
NEWS RELEASE
INEX has mailed a letter of transmittal to all registered INEX shareholders which will provide for the exchange of currently outstanding INEX common shares for shares of Tekmira. INEX shareholders are required to deposit with Tekmira's share transfer agent the certificate representing their current holdings of INEX shares and the letter of transmittal, properly completed and signed, in order to obtain common shares of Tekmira and INEX. One Tekmira common share will be issued for each post-consolidation INEX common share. As part of the spin-out, INEX common shares were consolidated on the basis of two current common shares for one new common share.
Immediately before the spin-out of Tekmira, INEX common shares were consolidated on the basis of two current common shares for one new common share. INEX shareholders, as of the close of business on April 30, 2007, will own 100% of the new common shares of Tekmira and 20% of the equity of INEX. Effective May 1, 2007, the new common shares of INEX are de-listed from trading on the TSX. INEX will be seeking new opportunities outside the pharmaceutical industry under new management.