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Post by kukkido on Jan 29, 2016 19:23:34 GMT
Okay another communication from TD Ameritrade. Seems like they are confused and the information has to be Trusted But Verified. Good Luck
Dear Mr. ,
I am writing in regards to your recent transfer request of Ocata Therapeutics Inc shares to the transfer agent. This asset is not DRS (electronically) eligible at this time. In this case we can request a certificate on your behalf. Please be advised that a fee of $500 will apply when requesting the certificate. This is an action by DTCC (Depository Trust Clearing Corporation) and is not retained by TD Ameritrade. This must be resolved by the stock issuer with the DTCC. You may also contact the transfer agent to find out if there are other available options to receive the shares. In order for TD Ameritrade to proceed we will need to receive further instructions from you regarding your intent.
You may reply back to this email, fax the documents to 866-468-6268 or mail it to P.O. Box 2760, Omaha, NE 68103-2760. If you have further questions, or would like clarification, please contact our DRS Transfer Department at 800-652-4584. Office hours are Monday through Friday, 9 a.m. - 5:30 p.m. Eastern time, excluding market holidays.
Thank you,
Erika Maye
Asset Transfer Services, TD Ameritrade
Division of TD Ameritrade, Inc.
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Post by vzveteran on Jan 29, 2016 19:54:53 GMT
Fidelity processed my shares for free.
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Post by moonfiddler on Jan 29, 2016 22:21:16 GMT
Hi Kukkido and all…..and thanks Kukkido for your very informative posts! I just posted this on the other site, and hope it isn’t too redundant!! ____________________
Our daughter just spoke to an attorney friend of hers, and it seems if you apply for appraisal rights, your shares will be counted as tendered!!?? Does this seem correct, and is everyone aware of this?
We have been considering appraisal rights for most of our shares, but don’t want to go through the process to end up with an even lower final price? Scottrade charges a fee of $600 (and we may also need an attorney?), and we would have to apply soon. Is it possible for everyone who applies for appraisal rights, to join together to have one law firm represent them (if needed)?? We are not tendering our shares…...
There have been a lot of questions and answers posted, but we wonder how many shareholders are actually applying for appraisal rights? Also, are any of the LARGE shareholders applying for rights, or is it the consensus that it’s a waste of time and effort?
It would be very helpful to know what Mr. Aronson is going to do, or has done….
We sure wish everyone the very best….and appreciate, and hope to hear your responses!
best regards, moonfiddler
PS This deal is well designed to intimidate the shareholders….you’re made to feel helpless…..
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Post by thechurchmaus on Jan 29, 2016 22:51:41 GMT
only shares that are NOT tendered are suitable to apply. how they get to charge 600$ is a ripp off.as mentioned before fidelity and others dont charge. only one appraisal needs to get done and all the filers share the cost. aronson has recomended doing it in one of his early posts. gabelli has done it before. if you go to the start of the thread there is more info!
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Post by harlem on Jan 30, 2016 0:05:30 GMT
MOON, hope this helps
Some general info on appraisal rights I read about and as I understand them (anyone feel to correct)
-you do not tender your shares when you ask for appraisal rights -there is a formal process to follow under Delaware laws (not complicated but MUST be followed) regs are found on this or other bd -80 percent of cases ended up with shareholders getting 80 to 400 percent more -one suit only needs to be filed and others can join in -average length of suit in Delaware Chancery court 3.5 years --shortest 2.4 and longest 12 years -if you win you get 5% interest on your money per year -all expenses for lawyers, cpa s, expert witnesses etc are shared proportionately according to the number of shares involved and are deducted from the funds awarded... -you can withdraw your appraisal rights after the deal closes for a period of time (i think 60 days?) and take the 8.50/pps for deal -any or all parties can settle with astellas at any time for any price after the deal is done and walk away from suit -last I read Gary A (if it is Gary) is unsure of what he was doing but imo his posts seem to be less aggressive (judge for yourself on other bd) -regardless of whether the court orders the fair pps to be 8.50 or five dollars or fifty dollars, the expenses are deducted before you get paid -once you go past the time frame to drop out you can no longer trade your shares and will have to make a deal with astellas or go through the court procedure to get money for your shares -court will assess value of the company as of either the offering or closing date (not sure which but no difference in value imo) I do NOT make any recommendations, glta
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Post by moonfiddler on Jan 30, 2016 1:22:56 GMT
Post by harlem on 56 minutes ago MOON, hope this helps
Some general info on appraisal rights I read about and as I understand them (anyone feel to correct)
-you do not tender your shares when you ask for appraisal rights -there is a formal process to follow under Delaware laws (not complicated but MUST be followed) regs are found on this or other bd -80 percent of cases ended up with shareholders getting 80 to 400 percent more -one suit only needs to be filed and others can join in -average length of suit in Delaware Chancery court 3.5 years --shortest 2.4 and longest 12 years -if you win you get 5% interest on your money per year -all expenses for lawyers, cpa s, expert witnesses etc are shared proportionately according to the number of shares involved and are deducted from the funds awarded... -you can withdraw your appraisal rights after the deal closes for a period of time (i think 60 days?) and take the 8.50/pps for deal -any or all parties can settle with astellas at any time for any price after the deal is done and walk away from suit -last I read Gary A (if it is Gary) is unsure of what he was doing but imo his posts seem to be less aggressive (judge for yourself on other bd) -regardless of whether the court orders the fair pps to be 8.50 or five dollars or fifty dollars, the expenses are deducted before you get paid -once you go past the time frame to drop out you can no longer trade your shares and will have to make a deal with astellas or go through the court procedure to get money for your shares -court will assess value of the company as of either the offering or closing date (not sure which but no difference in value imo)
I do NOT make any recommendations, glta
__________________________________________________
Hi harlem.....
Thanks so much....you've really spelled it all out!! I know you don't want to make any recommendations to anyone, but do you also not want to say what you personally are doing?
Maybe I didn't make it clear what the attorney seemed to say, but our impression was that all shares going for appraisal rights will be counted by Astellas as votes for the buyout?? (that doesn't sound right....but?)
I think we're going to go ahead and apply for appraisal rights for 80-90% of our shares.
Thanks again very much!!
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Post by harlem on Jan 30, 2016 17:40:43 GMT
MOON I have tendered my shares and will sign on with one of the lawsuits that have been announced. I will not go with appraisal rights as I will not risk loosing funds and/or tying up my money for the next 3/5/7/ or more years. I will take the 850 and join a lawsuit with no expense or risk to me and take whatever they get.
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Post by moonfiddler on Jan 30, 2016 18:40:36 GMT
harlem MOON I have tendered my shares and will sign on with one of the lawsuits that have been announced. I will not go with appraisal rights as I will not risk loosing funds and/or tying up my money for the next 3/5/7/ or more years. I will take the 850 and join a lawsuit with no expense or risk to me and take whatever they get. _______________________ Hi harlem, Thanks very much for your reply! We were just thinking, even though it will cost $600, we can apply for appraisal rights and then have 60 days to change our mind and still accept the $8.50 (if that's their best offer and they won't negotiate)....before deciding to go to court and wait years? It would just give us more time to see what is going on with lawsuits, etc. (if anything). If we go for appraisal rights, would that exclude us from any lawsuit (hope not!) Thanks again!
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Post by harlem on Jan 30, 2016 18:57:15 GMT
Moon I would check on if you can do both as the objective of the appraisal suit would be to establish a fair price that you are awarded by a judge. The other suit would be to get damages for not getting a fair price. Please check as it seems to be double dipping, as the appraisal suit would award you a fair price in the eyes of the law. aimo no legal background on my part
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Post by moonfiddler on Jan 31, 2016 6:49:19 GMT
Thanks harlem very much!!
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Post by thechurchmaus on Feb 3, 2016 15:00:22 GMT
talked to fidelity on the phone the other day when they told me there was a lot of action going on regards appraisal rights and ocat.they know what they are doing/took the time to learn something that is a pretty rare occurance these days but is getting more popular as more people get shafted and funds get involved.lets face it there is no advertising making you aware of this right.astella will have to put a substantial amount of money aside when and if this closes to take care of this eventuality and progress with ocat will somewhat hurt them as far as future earnings appraisals are concerned. REMEMBER YOU STILL HAVE 60 DAYS TO FILE IF YOU HAVE NOT TENDERED!its free with fidelity!!!!
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Post by thechurchmaus on Feb 3, 2016 15:30:19 GMT
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Post by goldencoin9999 on Feb 3, 2016 15:36:50 GMT
talked to fidelity on the phone the other day when they told me there was a lot of action going on regards appraisal rights and ocat.they know what they are doing/took the time to learn something that is a pretty rare occurance these days but is getting more popular as more people get shafted and funds get involved.lets face it there is no advertising making you aware of this right.astella will have to put a substantial amount of money aside when and if this closes to take care of this eventuality and progress with ocat will somewhat hurt them as far as future earnings appraisals are concerned. REMEMBER YOU STILL HAVE 60 DAYS TO FILE IF YOU HAVE NOT TENDERED!its free with fidelity!!!! That is a good point. Since they also notified how many shares going to appraisal route, maybe they will raise the offer enough so that all tender and they don't have to deal with the appraisal law suit down the road.
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Post by harleyquinn on Feb 3, 2016 15:40:19 GMT
talked to fidelity on the phone the other day when they told me there was a lot of action going on regards appraisal rights and ocat.they know what they are doing/took the time to learn something that is a pretty rare occurance these days but is getting more popular as more people get shafted and funds get involved.lets face it there is no advertising making you aware of this right.astella will have to put a substantial amount of money aside when and if this closes to take care of this eventuality and progress with ocat will somewhat hurt them as far as future earnings appraisals are concerned. REMEMBER YOU STILL HAVE 60 DAYS TO FILE IF YOU HAVE NOT TENDERED!its free with fidelity!!!! That is a good point. Since they also notified how many shares going to appraisal route, maybe they will raise the offer enough so that all tender and they don't have to deal with the appraisal law suit down the road. I still think this is probably a done deal. But if its not, I think the exact opposite could be said -- in other words, if this tender fails, if it looks messy and expensive to deal with holdout shareholders, especially given how much $ the sector has lost, they could walk.
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Post by vzveteran on Feb 3, 2016 15:47:59 GMT
That is a good point. Since they also notified how many shares going to appraisal route, maybe they will raise the offer enough so that all tender and they don't have to deal with the appraisal law suit down the road. I still think this is probably a done deal. But if its not, I think the exact opposite could be said -- in other words, if this tender fails, if it looks messy and expensive to deal with holdout shareholders, especially given how much $ the sector has lost, they could walk. What do you think Gamco and GA will do if Astellas walks? Oh well we lost 10 million dollars..........I can't see that happening.
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Post by goldencoin9999 on Feb 3, 2016 18:03:50 GMT
That is a good point. Since they also notified how many shares going to appraisal route, maybe they will raise the offer enough so that all tender and they don't have to deal with the appraisal law suit down the road. I still think this is probably a done deal. But if its not, I think the exact opposite could be said -- in other words, if this tender fails, if it looks messy and expensive to deal with holdout shareholders, especially given how much $ the sector has lost, they could walk. Who knows but from their actions I am willing to bet they are not going to give up OCAT and walk away from the deal that easily.
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Post by moonfiddler on Feb 6, 2016 17:36:48 GMT
We applied for appraisal rights last Tuesday, Feb 2, through Scottrade and paid the $600 fee. We sent an overnight letter to Ted Miles, Ocata, expressing our application for appraisal rights…..which he received and signed for.
Our Scottrade broker said they won’t do anything else (won’t file any other documents, etc.) all they’ll do is withdraw the shares from our account, and send us a paper certificate issued in our name….. (that’s great for $600!).
Does anyone know if we have to notify Cede & co (or anyone else?)….so they in turn notify Ocata??? If so, does anyone know how to do this ourselves? This is all kept very confusing to discourage retail shareholders from exercising their rights….
Any information will be greatly appreciated….and thanks very much! moonfiddler
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Post by vzveteran on Feb 6, 2016 22:37:51 GMT
Well fidelity told me they will send a letter to Ocata, informing them of my dissension. I sent my own certified/registered letter, and received my receipt back. Should the deal close, I will then start looking for others (through an attorney) that applied for appraisal, and see if I could join and share costs to prosecute.
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Post by moonfiddler on Feb 7, 2016 6:23:41 GMT
Post by vzveteran Well fidelity told me they will send a letter to Ocata, informing them of my dissension. I sent my own certified/registered letter, and received my receipt back. Should the deal close, I will then start looking for others (through an attorney) that applied for appraisal, and see if I could join and share costs to prosecute.
Thanks vzveteran! We'd also like to join in a group that has applied for appraisal, and share the costs. Besides the letter to Ocata that we sent....we just want to make sure there isn't anything else we have to do? (also sent an email to Ted Miles with same content as letter).
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