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Originally posted by Oldpa1:
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Hi Mala, I do recall you posting that information. That was at a time before we were given information about the intended process for the whole transfer of IHL shares to the Nasdaq and also the consolidation of 100 to 1 on our shares and 25 x4 ADR's to 1 new share on the Nasdaq. The process now outlined is that all Australian shares will transfer from Automic to a new (yet to be advised) Registry. The shares will be consolidated under the new register and will include the US ADR's as consolidated new Nasdaq shares. It has been indicated that the we will need to register with the new Registry and create a login as we currently do with Automic. At that stage it is expected you will be able to nominate a broker to manage your shares as you do now, but in this case it would be Commsec International and not your Commsec domestic account. It has been further indicated that the new Registry will also have a Broker component where you may wish to use for your trades if you not want to use ie Commsec, Westpac, Tiger etc. That will be a choice for individuals and should be made with consideration of trade costs, Forex costs, data depth information services etc. IHL will progress the share conversion using the new registry and provide information at the appropriate time to allow us all to choose our preferred trading broker. An information package will be provided to assist with the process by IHL once the move to the US is made formal and a I understand a dedicated hotline will be made available to assist Shareholders. Hope this assists. Am happy to clarify any questions that you may have concerns about as we progress through the change process. Kind regards Oldpa
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Thanks Pa, that’s really well explained and even I get it completely now! Lol
