A friend of mine forwarded me an email from his Comsecs:
Subject:
Biota Pharmaceuticals Inc (BOTA)
Dear Mr X....
I am writing in reference to your purchase of BIOTA HOLDINGS LIMITED (BTA) shares on 30 October 2012.We sincerely apologise that there has been a lengthy delay in settling your trade and that we have not been able to provide information to you sooner. The selling counter party failed to meet their delivery obligation and CommSec has been working with them over the last few weeks to resolve the situation. We now have confirmation that the counterparty expects to deliver the shares to you starting Monday 26 November 2012.
Background and what you can expect to receive
Trading in BTA ceased on 30 October and the company was removed from the official list of the ASX on 12 November. All ordinary shares in Biota were acquired by Nabi Biopharmaceuticals which has changed its name to Biota Pharmaceuticals, Inc. Under a scheme of arrangement, for each share held by a BTA shareholder, Biota Pharmaceuticals issued 0.1249539870 of a share in BOTA.
You purchased two parcels:
Parcel one –xxxx. Parcel two – xxxx
Once the shares have been registered in your name, a holding statement will be sent to you by post. The holding statement is being sent from the USA and we believe it may take one to two weeks to arrive.
Goodwill Gesture
If you are considering selling your shares either upon receipt or sometime in the future, we recommend you apply to open an international share trading account.
If you open a CommSec International Share Trading Account, CommSec will sell your BOTA shares for you at NIL brokerage. This is offered as a goodwill gesture and to thank you for your patience. Please note that the order will need to be placed before 31 January 2013. We again apologise for the delay. Whilst errors such as these are rare, we acknowledge they are no less frustrating for our clients. Please do not hesitate to contact me on my deirect line 02 9280 7070 or by email at [email protected] if you wish to discuss this matter further.
Yours sincerely
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