RE:RE:Okay - I admit I'm cluelessDryale 1.
truthseeker1 have a good explanation. I am not going to argue with his opinion. But he did give you what I believe is his honest opinion.
Okay let me give you an alternative explanation. I understand your position and I will give you an example
Say you have 6,000 shares you will receive 6,000 ZENA.RT in your account. That is step one.
You will see a price atached to those ZENA.RT shares and it should be at 0.03$ today. The price will change as days go on. You have the option to either buy or sell those ZENA.RT shares. Okay? If you sell them the money will go into your self-directed trading account. Okay the next step.
If you have then in an RRSP or TFSA they do NOT allow you to trade in derivatives. But what you have there are free and you can sell or convert them. Following me so far?
If you have them in a investment account (non-RRSP or non-TFSA) you can buy and sell as you please. If you sell the money will go into your account. If you buy your ZENA.RT holdings will increase. Following me?
Let's say you maintained your position (or even added to your position) what is the next step?
You sell your ZENA.RT if you don't want them or exercise your rights if you want them.
Forget about 29th November. Forget about that date. You have to call the bank (the investment line) and speak to the rep. Following me? This has to be done on or before November 25th 5:00PM Eastern Standard Time. That is important
Okay you are self directed but you have to call the bank to convert free of charge.
The bank will ask you how much ZENA.RT you want to convert. Remember the conversion will be 1 ZENA for every 1.5 ZENA.RT Are you following me?
So if you have 6,000 ZENA.RT you will get 4,000 ZENA at 0.15$
You have to phone your investment department of your bank and the transaction is FREE