Hypothetically I am a GWR shareboker and I was asked by my broker 2 questions! 1. Do you want to take up the rights issue offered by GWR answer YES 2. Do you or do you not want to accept the takeover bid being offered of 7 for 1 fas shares for every GWR share? Answer NO (not at the moment, too many variables for me) These questions were in fact asked of me and I signed no documents but had the broker sign on my behalf.
Now what if the wrong answers get applied to the wrong documents?? If this happened to me (as may have happened to Falaknaz) then: I would go back to my broker and demand that they fix their error. (Ofcourse in my case it would be a lot easier as I do not hold 7million+ shares but principal is still the same)It would not cost the broker a lot to return my GWR shares to me but that is what I would demand of them. I think that because of the sheer volume of shares involved, the deal will not be easily reversed and that Falaks case is with the broker who made the error. How that is resolved will be up to the broking firm. The fluctuating value of the shares has nothing to do with the transfer. Whoever has made the supposed unauthorised transfer will be feeling quite sick at the moment and will probably lose their job over it but was it a mistake or is it all part of the web of deceit!!!
Only time will tell as nothing would suprise me any more.
Maybe this IS a legitimate mistake!!!
GWR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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