|
|
Post by thechurchmaus on Jan 24, 2016 18:50:58 GMT
i have!you can not loose.it wont go lower than the 8.50.they have to pay interest of 5% plus compounded for your money tied up regardless of the outcome.yo can opt out at any time.my broker,fidelity, does not charge for this service and know what they are doing.a no brainer?up to 80%were successful and some by 400%.
i am not an expert so do your own research(plenty of info on the boards).do it now before they take your shares.
if there are enough of us they might even settle out of court.
|
|
|
|
Post by vzveteran on Jan 24, 2016 18:57:42 GMT
i have!you can not loose.it wont go lower than the 8.50.they have to pay interest of 5% plus compounded for your money tied up regardless of the outcome.yo can opt out at any time.my broker,fidelity, does not charge for this service and know what they are doing.a no brainer?up to 80%were successful and some by 400%. i am not an expert so do your own research(plenty of info on the boards).do it now before they take your shares. if there are enough of us they might even settle out of court. Exactly my reasoning...they can make individual deals with dissident shareholders after the close. I sent Wotton and Yoshida an email to make me an offer. |
|
|
|
Post by thechurchmaus on Jan 24, 2016 19:03:21 GMT
can somebody get this on the other board please?
|
|
|
|
Post by kukkido on Jan 27, 2016 20:37:40 GMT
FYI
Dear xxxxx,
Thank you for the follow up call today. Per our discussion, information regarding our current Dissent process is included in this email. Dissenter's rights (also known as appraisal rights) are available to shareholders in the event of a mandatory reorganization. A Dissent is a process whereby shareholders may demand fair payment for securities undergoing a merger. The exercise of Dissenter's Rights, or having your shares appraised for fair market value, is accomplished with a filing through the court system and a third-party valuator is normally assigned by the courts. You may complete the court filing through legal representation of your choice.
This message is to delineate TD Ameritrade's process as it relates to dissenting your shares. After a proposed merger is announced to the public the company being acquired will typically submit preliminary information to the Depository Trust Company ("DTCC") regarding terms of the proposed merger, date of the shareholder meeting, and instructions regarding the availability of appraisal rights (dissenting). As of today, 1/27/2016, information in DTCC related to appraisal rights for OCAT: Ocata Therapeutics (cusip 67457L100) states that the written notice of dissent must be received at the issuer by or before 2/9/2016.
Once written instruction to dissent has been received there are two options available in which to proceed:
OPTION 1
TD Ameritrade forwards the request to DTCC with 2 forms/letters:
1) The first letter is completed by TD Ameritrade on behalf of our client instructing DTCC to sign the second letter.
2) The second letter states that Cede & Co. is the registered holder of the shares and is asserting appraisal rights on behalf of the beneficial holder. DTCC charges $400/letter, and one letter is required per client account. This fee is charged to your TD Ameritrade account.
When DTCC receives the request for dissent, they will issue a physical certificate for the shares and sign the aforementioned letter, which is addressed to the issuer. The letter and certificate, along with an Irrevocable Stock and Bond Power form, are sent via overnight mail to TD Ameritrade. (A Stock Power form is used to endorse a physical stock certificate.) TD Ameritrade then overnights the stock certificate and Stock Power form to the shareholder and the letter signed by DTCC is overnighted to the issuer.
When shares are certificated they are re-registered directly into the shareholder's name and shares are no longer in TD Ameritrade's possession or control; therefore, after a physical certificate is issued there is no further action required of TD Ameritrade related to the dissent.
IMPORTANT NOTICES:
The shareholder is responsible for notifying TD Ameritrade of any additional actions required of the Registered Holder, Cede & Co., to perfect his/her appraisal rights and any special instructions should be included in the initial instruction requesting to exercise your appraisal rights. TD Ameritrade will not be responsible for identifying supplemental documentation required to perfect the client's rights to appraisal and will only act as instructed by the beneficial holder.
OPTION 2
The shares may be transferred to the issuer's Transfer Agent via DRS (Direct Registration System). A DRS transfer may be initiated with TD Ameritrade or with the Transfer Agent. TD Ameritrade does not charge a fee for this type of transfer. Upon transfer the shares are re-registered directly into the shareholder's name and held in book entry (electronically) at the Transfer Agent.
When shares are re-registered directly into the shareholder's name and are no longer in TD Ameritrade's possession or control there is no further action required of TD Ameritrade or DTCC related to the dissent. Should you choose this option detailed information will be forwarded to you regarding how to initiate this type of transfer.
TD Ameritrade executes dissents on a best efforts basis only. The nature of the dissent process typically offers a very limited timeframe in which to exercise your appraisal rights. It is, therefore, imperative that you submit instruction in a timely manner so that we may initiate the necessary proceedings as quickly as possible.
Given the fees involved please let me know if you still wish to exercise your appraisal rights on xxxx shares of OCAT: Ocata Therapeutics (cusip 67457L100). If so, you would also need to specify if you prefer to have it processed through DTCC (Option 1) or a DRS transfer (Option 2). I can be reached at 888-723-8504, option 1 and ask for me by name, or choose option 8 and dial my direct extension 201723. If I am unavailable please feel free to ask for Shane Brooks at ext 204143.
Sincerely,
Charlie Danker
Asst Team Manager, Reorganization Dept
TD Ameritrade, Inc.
Market volatility, volume, and system availability may delay account access and trade executions.
|
|
|
|
Post by kukkido on Jan 27, 2016 23:42:21 GMT
On ICELL, there is a possibility that we have a Delaware Attorney who can send a letter for the Shareholders List. Within that Response, he also said there may be a way to get an injunction to stop this process. Looking for all possibilities at this point. We don't want to wait until we get a message they have all the tendered shares they need to close the deal. If we hesitate to respond it may be too late. Right now we have a fighting chance.
Kukkido
|
|
|
|
Post by moonfiddler on Jan 28, 2016 4:07:08 GMT
Post by kukkido on 4 hours ago
On ICELL, there is a possibility that we have a Delaware Attorney who can send a letter for the Shareholders List. Within that Response, he also said there may be a way to get an injunction to stop this process. Looking for all possibilities at this point. We don't want to wait until we get a message they have all the tendered shares they need to close the deal. If we hesitate to respond it may be too late. Right now we have a fighting chance.
Kukkido
Hi Kukkido,
We have also looked into Appraisal Rights....Scottrade will charge $600, and we're tempted to go forward with it (I also spoke to Julie at Interwest today). Are you going to go for Appraisal Rights....or are you just not tendering? Thanks for your reply, and your posts are greatly appreciated!
|
|
|
|
Post by kukkido on Jan 28, 2016 4:25:07 GMT
Hey Moonfiddler,
I paid the $600 for Scottrade and will have to come up with $400 for TD Ameritrade. I could have done the DRS myself but I wanted to make sure it was done correctly because of how much I have invested. I chose to go for the Appraisal Rights on Both accounts. We are close to the end and I am hoping for an injunction to stop the process and have Management held accountable. We all have suffered through the BS. Since I have been a long time shareholder and have lost alot, I figured that The Appraisal Process is where it will end up. I am still waiting for the ICELL gang to follow through with their Lawyers and probably will attach myself to whatever lawsuit will happen. I know that if you don't seek appraisal rights you will basically end up with 8.50 a share. I am not going to sell because I don't want someone else picking up shares and then tendering for Astellas.
I did ask Interwest about the tendered shares and Julie said she would send a message to CITI and see if I can get an answer. I will call tommorrow. At least, we will have an idea how close they are to completion. I really wish MG would have not played with our investment like that, but I can see that it is more of a TRUE ARBITAGE, only for his own benefit not our.
Kukkido
I am the original Dumpster Diver. JHAM knows that the information I retrieved helped nail the coffin for Rabin. It hurt us because of the SEC fine but it was the correct thing to do. It got rid of the GR Cancer, but the cancer showed up as PW. In retrospect, Maybe GR wouldn't have sold us down the River, because he didn't want to leave BIG MONEY on the Table.
|
|
|
|
Post by moonfiddler on Jan 28, 2016 4:41:10 GMT
Hi Kukkido!
Thanks very much for your reply, and you have helped us a lot with our decision to go ahead with Appraisal Rights! I had meant to mention in my previous post to compliment you on your courageous "dumpster diving" from a few years ago....was unbelievable what you were able to find out and do for us all!! We've been here for over 8+ years....so know all about what everyone has gone through..... So glad there are a lot of very dedicated shareholders that will fight to the end (and hopefully a new beginning!)!! Julie is also going to email me Thursday, hopefully with some information that may be of interest to post here for others. Thanks again very much and best regards.....and good luck to all! Moonfiddler
|
|
|
|
Post by Whidbeygal CM 20/20 on Jan 28, 2016 5:05:42 GMT
i have!you can not loose.it wont go lower than the 8.50.they have to pay interest of 5% plus compounded for your money tied up regardless of the outcome.yo can opt out at any time.my broker,fidelity, does not charge for this service and know what they are doing.a no brainer?up to 80%were successful and some by 400%. i am not an expert so do your own research(plenty of info on the boards).do it now before they take your shares. if there are enough of us they might even settle out of court. Huh? |
|
|
|
Post by Whidbeygal CM 20/20 on Jan 28, 2016 5:12:35 GMT
A suggestion. I was a long term investor of ACTC/OCAT.
Look at the charts of BIB and OCAT.
BIB took a huge hit from the time of the OCAT tender offer.
OCAT has been protected from the biotech meltdown.
Do whatever you will.
The buyout will happen.
|
|
MM
New Member
Posts: 29 
|
Post by MM on Jan 28, 2016 7:39:58 GMT
i have!you can not loose.it wont go lower than the 8.50.they have to pay interest of 5% plus compounded for your money tied up regardless of the outcome.yo can opt out at any time.my broker,fidelity, does not charge for this service and know what they are doing.a no brainer?up to 80%were successful and some by 400%. i am not an expert so do your own research(plenty of info on the boards).do it now before they take your shares. if there are enough of us they might even settle out of court. Huh? Whidbeygal, why the 'huh'? Yes there were run-on sentences but churchmaus' comment was perfectly clear to me. I've also retained my appraisal rights. I realize that you sold or tendered your shares awhile back - you've reminded us often enough - so good luck to you. Meanwhile I wish everyone going the Appraisal route a 200%-600% return in 3-5 years. |
|
|
|
Post by anderdonau on Jan 28, 2016 8:05:00 GMT
MM: a return of 200%-600%? where did you get these numbers from?
|
|
|
|
Post by vzveteran on Jan 28, 2016 12:53:58 GMT
I went with the appraisal rights as well. The reason being it was free through Fidelity, and I can rescind those rights at any time, and sell/tender should things change.
If you don't reserve your rights and the deal completes, it's too late to sell or appraise. The shares are cancelled and will be replaced with cash equivalent. No brainer to me.
|
|
|
|
Post by selluwud on Jan 28, 2016 13:39:41 GMT
I went with the appraisal rights as well. The reason being it was free through Fidelity, and I can rescind those rights at any time, and sell/tender should things change. If you don't reserve your rights and the deal completes, it's too late to sell or appraise. The shares are cancelled and will be replaced with cash equivalent. No brainer to me. What are your realistic expectations for $ settlement VZ? How long will you shares be tied up in the courts you think? My shares are in a Fidelity rollover IRA and I haven't discussed anything with them, but I have been giving the appraisal right option some thought. |
|
|
|
Post by vzveteran on Jan 28, 2016 15:03:59 GMT
I went with the appraisal rights as well. The reason being it was free through Fidelity, and I can rescind those rights at any time, and sell/tender should things change. If you don't reserve your rights and the deal completes, it's too late to sell or appraise. The shares are cancelled and will be replaced with cash equivalent. No brainer to me. What are your realistic expectations for $ settlement VZ? How long will you shares be tied up in the courts you think? My shares are in a Fidelity rollover IRA and I haven't discussed anything with them, but I have been giving the appraisal right option some thought. I posted awhile back, information from the Harvard business review related to Delaware law, as it relates to Dissenters rights. According to the information, It takes 2 to 4+ years to work through the courts, and 80% of those cases brought to court were successful to varying degrees. The fact that Jeffries left the IP out of their valuation metrics, gives me a little more confidence for a positive outcome. For me it works as a hedge, as I would probably pull some off the table at 8.50 (tender) and let the rest ride. If and when the deal closes, I can deal directly with Laurel to settle out of court for my remaining shares, or let the Judge decide. If the deal does not close and Astellas ups the bid, I may change my position. If Astellas walks away then I would look to see what GAMCO and GA are going to do, as you know they will not take a 50% hit on their money. |
|
|
|
Post by selluwud on Jan 28, 2016 15:11:11 GMT
What are your realistic expectations for $ settlement VZ? How long will you shares be tied up in the courts you think? My shares are in a Fidelity rollover IRA and I haven't discussed anything with them, but I have been giving the appraisal right option some thought. I posted awhile back, information from the Harvard business review related to Delaware law, as it relates to Dissenters rights. According to the information, 80% of those cases brought to court were successful to varying degrees. The fact that Jeffries left the IP out of their valuation metrics, gives me a little more confidence for a positive outcome. For me it works as a hedge, as I would probably pull some off the table at 8.50 (tender) and let the rest ride. If and when the deal closes, I can deal directly with Laurel to settle out of court for my remaining shares, or let the Judge decide. If the deal does not close and Astellas ups the bid, I may change my position. If Astellas walks away then I would look to see what GAMCO and GA are going to do, as you know they will not take a 50% hit on their money. Appreciate the response. |
|
jak
Junior Member
Pic reflects current mood
Posts: 88
|
Post by jak on Jan 28, 2016 16:06:39 GMT
I am on exact same boat and course with vzveteran. With Fidelity, exercised dissenters rights for most of my holdings and let a small portion just not-tendered that might be liquidated. Good luck to all.
|
|
|
|
Post by asopfabl on Jan 28, 2016 16:40:53 GMT
Sorry if I missed this, but what happens after you file for appraisal rights...at least in terms of moving forward through the court? Is each shareholder responsible for obtaining their own legal counsel? There must be a lot required in obtaining information (witnesses, records, analysis, etc.) and would surely involve a cost. Who pays for this?
Any info would be helpful, thanks!
|
|
|
|
Post by vzveteran on Jan 28, 2016 17:26:53 GMT
Sorry if I missed this, but what happens after you file for appraisal rights...at least in terms of moving forward through the court? Is each shareholder responsible for obtaining their own legal counsel? There must be a lot required in obtaining information (witnesses, records, analysis, etc.) and would surely involve a cost. Who pays for this? Any info would be helpful, thanks! You have time......Up to 120 days from the date of the merger to petition the Chancery Court. There are plenty of firms to choose from. Here's one www.foxrothschild.com/ I just emailed them for approx costs to petition. |
|
|
|
Post by kukkido on Jan 28, 2016 22:53:22 GMT
Okay,
I am talking with Interwest about the DRS System or Option 2 from the TD Ameritrade Reorganization Department to request my appraisal rights.
So, Here is the letter you need to draft for the DRS system. TD Ameritrade will only request thru the DTCC to pull your shares and take them out of their name and put them into the Appraisal (Cloud) and Interwest does all the work. Once DTCC sends the letter to Interwest, Then they will let me know that they have approved it and then its up to me to follow up with the Legal Process.
Here is an example of the Letter that you will need to send OCATA, so that they know you are Dissenting. The TD Ameritrade, DTCC, Interwest process takes 3-5 Days.
Contacts- TD Ameritrade Charlie Danker, Interwest is Julie 1-801-272-9294. DTCC is Chivon Newsome (no number). I also asked Julie about % of tendered shares again and she doesn't have any numbers yet and probably wont, because of the classified nature of the Deal.
LETTER TO OCATA
DXXXXXX
4455 XXXXX Blvd.
Beautiful City, California 90210
Ocata Therapeutics Inc.
Attn: Chief Financial Officer – Ted Myles
33 Locke Dr.
Marlborough, MA 01752
I am the Holder of Record of Shares of Ocata Therapeutics Inc, The DTCC was informed by its Participant, TD Ameritrade, Inc. that I wish to exercise my appraisal rights on 40,578 shares of OCAT: Ocata Therapeutics (cusip 67457L100) which are beneficially owned by DXXXXXX, customer of Participant.
In accordance with instructions given to Ocata Therapeutics, I am hereby asserting appraisal (or Dissenters’) rights with respect to the Shares.
Further correspondence on this matter should be directed to:
DXXXXXX
4455 XXXXX Blvd.
Beautiful City, California 90210
I hope this helps for those Choosing to Dissent and using option 2 from TD Ameritrade. The Same letter will be issued by Cede & Co, who is the Nominee of the Depository Trust Company(DTCC).
Yours Truly,
Kukkido - Insert Name.
|
|
