Marvel Discovery Corp V.MARV

Spin out shares

[madeinhemlo]

I just received a nasty letter from TD telling me the Power One shares are not qualified for my RRSP.  They've offered to buy them from me for $0.01 with $0.01 commission.  I am going to contact them to see if I can just transfer the shares to a trading account.  Meanwhile im going to contact MARV to see when the shares will be assigned a value and start trading.

[Alaska74]

Don't look for many favors from TD. Most my brokers over the year's didn't have much mercy in unusual circumstances. Good luck with them! PI and Canacord in my experiance being pretty stiff with me as far as going the extra mile. Of course if my account had busted the 5$ million mark it would have been different.

[madeinhemlo]

I'm not looking for favours.  I just want to keep my shares.  Transfer them out of my RRSPVto a trading account.  

[Slotracker]

The Canada Revenue Agency (CRA) sets the requirement that only qualified investments are allowed in registered plans like your RRSP. Generally, if a security trades on at least one exchange that Canada's Finance Department considers a Designated Stock Exchange, it will be recognized as a qualified investment. Among those global exchanges – which total around 46 — are the New York Stock

[madeinhemlo]

Yes, well I spoke with Marvel just now.  The are hoping to do an IPO with Power One in a couple of months.  They seem very excited about both MARV & Power One going forward.  So I will move my shares from RRSP to a trading account and wait for the IPO.  GLTA

[Slotracker]

Where are you from? Why weren't your shares rrsp eligible? What do you mean by trading account? If you don't mind me asking...European investor?

[madeinhemlo]

Canada...we can hold only shares if eligible companies.  They must be listed in a recognized exchange.  Power One shares are not yet trading on an exchange.  So Recenue Canada may try to penalize me.  The problem is penalties are based on the value of shares and Neil PO begins to trade there is no value assigned.  Therefore I may open a trading account that is not

[Hallfield]

You could only recontribute if you have room available. They will likely trade on an approved exchange. Wait until they announce it, you will have a few days notice.