posted
I am seeing it on my scottrade account chart. I have the section with PAIMPR and under that I have a few of the shares listed with CBAA2.
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posted
I have Scottrade too and all my PAIM common shares are showing up okay. Bought after the buyback though and have not had to contend with preferred stock or debtenure conversions...could it be related to such.....better yet, just call your Scotty broker and ask them a pressing question about what it means. ...GLTY
-------------------- "No nation was ever ruined by trade." Benjamin Franklin
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posted
I still have not received a reponse from my queries to PAIM IR about status and/or completion of the buyback, as well as upcoming PR. Note: I have been using e-mail only. If I get too antsy this week, I guess I'll make a phone call as well. Is anyone else getting responses this week or last?
-------------------- "No nation was ever ruined by trade." Benjamin Franklin
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Press Release Source: Pearl Asian Mining Industries Inc. - Philippines
90% Buy Back Is 99% Complete -- Pearl Asian Mining Diagrams the Options & Process to Convert Its Preferred Shares and Convertible Debentures Wednesday August 30, 10:00 am ET
MANILA, Philippines--(BUSINESS WIRE)--Aug. 30, 2006--Pearl Asian Mining Industries, Inc. (OTC:PAIM - News) Reports: that the 90% buy-back is now more than 99% complete. All the shareholders that opt to convert their certificates to common shares must follow the process of converting the Preferred Shares and Convertible Debentures. The remaining shares subject of the 90% buy-back that have not been surrendered have stop transfers in place and will be automatically cancelled on Sept. 1, 2006 with the 10% new stock certificates and the 90% CDs issued to replace the remaining fractional percentage, completing the buy back. COMMON SHARES A). Common shares issued up to June 15, 2006 Par Value =$0.001 were subject to the 90% buy-back. B). Upon completion of the common shares buy- back, the total outstanding public float of common shares will be fewer than 3 billion. C). The remaining 10% of shareholders' common shares are available for trading at anytime. PREFERRED SHARES Par Value = $0.00000001 No symbol as of yet.
CONVERSION OF PREFERRED SHARES TO COMMON SHARES -----------------------------------------------
# of # of Period Preferred Shares Common Shares
Current to March 30, 2007 10,000 1 Common Share March 31, 2007 - March 30, 2008 5,000 1 Common Share March 31, 2008 - March 30, 2009 2,500 1 Common Share March 31, 2009 - March 30, 2010 1,250 1 Common Share March 31, 2010 - March 30, 2011 625 1 Common Share March 31, 2011 and after 500 1 Common Share
CONVERTIBLE DEBENTURE A). Convertible Debenture (CD) is in exchange Face Value =$1.00 of the 90% buy-back of outstanding common increments shares. B). One common share surrendered equals $0.001 par value when held to maturity of Five Years - June 15, 2011. C). CDs held until June 15, 2011 will be paid without interest. D). CDs can be converted back to Common Shares at a fixed rate cost of $0.01 per share at anytime on or before maturity (June 15, 2011).
NOTES: (1) All Preferred Shares and Convertible Debenture Certificates were already sent to DTCC, CDS and transferred to their participants. (2) All conversions of Preferred and Convertible Debentures must first be transferred into the name of the beneficial owner. (3) Certificates must be properly endorsed with a Medallion Signature Guarantee Stamp (obtained from a national bank or stock brokerage firm). (4) Request for conversion must include a cover letter of instructions, original certificate, a fee of $25 for each certificate cancelled, a $25 fee for each new certificate issued. Fees are payable to: First Public Securities Transfer Corporation: 4546 B-10 El Camino Real Suite #288: Los Altos, CA 94022; Attn: Conversion Dept: 1-310-770-6689.
Any questions and concerns please contact PAIM's Investor Relations Officer Engr. Gotanco via e-mail: gary.gotanco********** directly, or through phone # 1-310-728-6907. Please note: This phone is answered 12 hours ahead of New York time zone as it automatically forwards to the Philippines.
FORWARD STATEMENTS;
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include statements regarding the Company's projections regarding gold production in future periods. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks relating to estimates of reserves, mineral deposits and production costs; mining and development risks; the risk of commodity price fluctuations; political and regulatory risks; risks of obtaining required operating permits and other risks and uncertainties. Penny Stocks are very highly speculative and may be unsuitable for all but very aggressive investors. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact: Pearl Asian Mining Industries Inc. - Philippines Investor Relations: Gary Gotanco, 678-570-6538 or 310-728-6907 (USA) Fax: 877-317-4430 IR*PearlAsianMining.com www.PearlAsianMining.com
-------------------------------------------------------------------------------- Source: Pearl Asian Mining Industries Inc. - Philippines
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...GLTY
