Proxy to Good Name

[JERSEY DINAR]

Hello,

I bought some ISX stock shares via proxy. I then registered to buy shares in my good name and have been buying them that way since.

My question is - when will the ISX transfer my stocks bought in proxy to my good name?

My bank rep at Warka said the ISX was close to completing guidelines for the transfer process. Can you share any information you have on this issue?

Many thanks,
JD

[435613422]

do you have the step of how to register stock under my name?

[TreasureHunter]

Warka has it posted under the news section on their website that they are starting to do transfers now. They say it's a lengthly process and they will now be transferring certs as they receive them. It's taken them long enough! At this point, I'd just as soon have them hold them awhile longer.....it's gonna cost me an arm and a legg to transfer the stock certs into my name! And I don't really have any arms & leggs to spare right now!?!I have stock in approx. 40 different companies....about 20 million shares of Warka alone! Ouch!!! Oh well........one day......I will be able to say "it was ALL worth it".......

Hopefully SOON!!!:giggle:

[cowpoke]

They Just transferred a lot of Warka shares to my good name. However, it was short by about half and lacked 3 purchases that were nearly a year and a half earlier than the one just transferred.

Has anyone had multiple transfers of the same company??:confused:

[cowpoke]

Your not alone !! They shorted me by half with Warka stock transfer. I sent an E Mail to see if they made a mistake or are just transferring in shifts. That was over a week ago. No Response. Wish they would explain themselves a little better. Guess this is typical Warka Service. ARRRRGGGGG :angry:

I will also send an Email. If it is any comfort, there was an individual here a few years ago that was not given his true allotment of Stock.

He Forwarded MR I the Prof of the Stock Order Confirmation via the OLD spreadsheet stuff and they made it right.

Bottom Line..SAVE EVERY TRANSACTION/EMAIL..

[Flyboy]

Dear Cowpoke:

I just received an e-mail form ISX-Warka that states that they put my Warka Stocks into my name, they were correct in the amount.
They also took the transaction fees from my savings in IQD.

They did all of this without e-mailing me first, I find that perplexing.
What if i had wanted to pay in USD and not IQD.

Do you have any idea why they did this at this moment? Was there any announcements that they were going to do this? In the past whenever something as important as this came up they always wanted a signed letter scanned and e-mailed to them. Very perplexing.

Wondered what you think?

FLYBOY

[ISX_TIME]

My E-Mail answer finally arrived from Warka about the confusion in name transfer. Unfortunately, I am still a little confused. Here is the reply:
Dear Mr. Medsouth,

Please note that we were transferred (231945) stocks you own in shoneez company to your good name and this quantity

(175000 ) stocks you own in your good name.

Many thanks and best regards

ISX Dept.

Warka Bank for Investment and Finance

Anyone know what Shoneez Company means ??

ShoNee the MONEY !!! - Proxy Holding Company, discussed many years ago

[spacetuna]

TreasureHunter

Warka has it posted under the news section on their website that they are starting to do transfers now. They say it's a lengthly process and they will now be transferring certs as they receive them. It's taken them long enough! At this point, I'd just as soon have them hold them awhile longer.....it's gonna cost me an arm and a legg to transfer the stock certs into my name! And I don't really have any arms & leggs to spare right now!?!I have stock in approx. 40 different companies....about 20 million shares of Warka alone! Ouch!!! Oh well........one day......I will be able to say "it was ALL worth it".......

Hopefully SOON!!!

Why is it going to cost an "arm and a leg"? I thought it was only $103 to get the documents stamped? Are there other costs as well?

[geowhiz]

Why is it going to cost an "arm and a leg"? I thought it was only $103 to get the documents stamped? Are there other costs as well?

2% fee for moving stocks from proxy to "good name". A fairly big bite.

[435613422]

Warka has it posted under the news section on their website that they are starting to do transfers now. They say it's a lengthly process and they will now be transferring certs as they receive them. It's taken them long enough! At this point, I'd just as soon have them hold them awhile longer.....it's gonna cost me an arm and a legg to transfer the stock certs into my name! And I don't really have any arms & leggs to spare right now!?!I have stock in approx. 40 different companies....about 20 million shares of Warka alone! Ouch!!! Oh well........one day......I will be able to say "it was ALL worth it".......


Hopefully SOON!!!:giggle:




dang, you make my holdings look small. :sadsmile:

[Flyboy]

Can you imagine if a RV happened just after they transfer all the stock. THE charges that we are paying individually could add up to hundreds of thousands of USD in value. People think!, why are they pushing this transfer now, is this transferring a money machine for the bank or what.

WHY ARE THEY DOING THIS NOW, and without any notification to us through an e-mail.

I want to know why?

anybody have any good thoughts.

FLYBOY

[ib1mog]

flyboy, I'm a little confused about what happened to you. Are you saying that Warka put stocks into your name without the appropriate verified forms from the American Arab Embassy?

[Flyboy]

No,
I am all approved with all the documents from the Iraq embassy.

My point is this, they made this change without consulting me. Usually Warka makes no moves without a letter with signatures, scanned and e-mailed to them.
OUt of the blue they did this, without notice. I really did not want incurr all the charges for this transfer at this time.
I have no contact with Warka about stocks for 12-18 months, and wham. I would have liked the choice of keeping them in proxy until I had them sell them.

Hope that clarifies it for you. Ib1mog
FLYBOY

Sorry screwed up your handle on top.

[HumbleGenius]

I can tell you that in my communications with Mr. I when I asked him to move forward on moving my proxy holdings in to my good name he told me that Warka would transfer from proxy to good name as the stocks are announced for going electronic. I was actually frustrated by that answer because I want them to do all of mine now. I would rather pay the 2% now instead of when the prices are higher. As long as you plan on selling whatever shares you have before the stock goes electronic I would be upset I guess and you would be fine in proxy, however afterwards I dont know. My understanding is, and no I will not take challenges to this as I am going by this understanding because I feel I have done enough DD to support my belief, that once a stock is electronic it will not trade in proxy. How will you sell your stocks then? The sooner they put your stocks in your good name, the better, I am jealous of those that they are converting now as they have not done mine to date and as I said would not until the stock is listed to go on electronic trading. (of which i have an itching will be the case for Warka sooner rather then later and they are trying to get ahead of the curve now while they can)

[anjocu]

I read somewhere (sorry, don't remember source), that the 2% fee is based on the date that the certified documents are received by WARKA. Anyone have any info or comments????

Also, it seems to me that everyone should want to get their stock "In my good name,"
as soon as possible, yet many people are keeping their stock in proxy. Exactly what are the pros and cons to either choice???

Thanks!

[chakkarchee]

They Just transferred a lot of Warka shares to my good name. However, it was short by about half and lacked 3 purchases that were nearly a year and a half earlier than the one just transferred.

Has anyone had multiple transfers of the same company??:confused:

Question

Is Warka charging 2% on the iqd amount of the transfer or charging by number of shares transfered

[billh]

According to Mr. I, Warka's commission is 2% of the value of the stocks at the time of transfer from proxy to "your good name"..

[chakkarchee]

According to Mr. I, Warka's commission is 2% of the value of the stocks at the time of transfer from proxy to "your good name"..

Thanks for the info

In that case Warka has given me all my holding of Basrah and Warka stocks transfer at one time to " my good name"

[Kadeda]

I'm not sure where to post this. I would like to know if I need to do anything with my stock purchases so that all is geared up and in line with electronic trading? I don't have shares in the 5 companies going electronic. But for other shares/companies, should I be doing this?