Warka notice of proxy change recieved

[crazyfrank]

ok I just recieved a mail that Warka that it has begun changing some of my proxy held stock into my good name.

However a second spread sheet has arrived listing what stock was to be transfered and showed a different price of the stock, ( what was 2.4 is now 1.4 ) and showed new charges applied plus commision a second time at this new price. As they already got thier fee and commision at the original buy order time.

How is that so? I had assumed the transfer might involve a commision yes, but how is it the base stock price has changed and why are they deducting it all again as if it is a new order?

[Seaview]

I was charged at two different rates for the same shares to change. I assumed it was the prices I paid for them at the time of purchase. I was still charged 7,000 dinar too much allowing for that.

Crow I decided not to sweat it - afterall I don't need to live off my dinar or pay bills with it.....:yelrotflmao::yelrotflmao:

[Crow]

I was charged at two different rates for the same shares to change. I assumed it was the prices I paid for them at the time of purchase. I was still charged 7,000 dinar too much allowing for that.

Crow I decided not to sweat it - afterall I don't need to live off my dinar or pay bills with it.....:yelrotflmao::yelrotflmao: Be it dinars or dollars I make it and use it!:yes: Ain't that what this is all about?:itwasntme:

[Seaview]

Note - I said 'I don't need' - I 'could' if I so chose to.:giggle: Poor Crow - I'm almost feeling sorry for you :thinking: :shake: - but not quite yet....:tmi:

[wherbie]

frank...

may be a printing error, i would email mr I . or Mrs. G....

i do remember something about a 2 % charge...to put the stock in your good name...and i think 2 % to buy it...

havent bought any for a while...

.

[cowpoke]

The transfer procedure is as follows. They will sell it out of the Proxy for you and charge you 1% for the Sell. Then they will buy it back for you IN YOUR NAME and charge you another 1%.

Total cost to your account, 2% for the trans action.

If there are stocks you would like to dump and not hold, NOW is the time to dump them on your own. This will save you 1%..

[crazyfrank]

ok thanks for the poop cowpoke, so the way I understand it, if I have shares in company "A" that were obtained via the proxy, at lets say 1.0 IQD per share, and paid the cost plus commision at that point.......

...... when it comes time for the change out, Warka sells the stock at current market price, which could be at a loss or gain, and then rebuys that same amount of shares of company "A" at the same current market price, only now it is in my name?

does that sound about right?

Being some stock prices are lower or higher now its really gonna effect overall gain/loss, not to mention the 2% commisions.

Actually it might in fact add up to 3% commision fees, as there was a 1% fee at proxy buy, and now another 2% to do the change out, does that look right?