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VimpelCom Ltd. Message Board

  • bgubbor bgubbor Mar 24, 2010 4:56 PM Flag

    Need help, please

    Hi there,

    I got email from my online broker saying that "stock is part of a non-mandatory reorganization or tender offer, which currently expires on 04/15/2010."

    Do I need to take any action? Thanks in advance.

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    • Got another email from Scottrade today. More or less the same like the one from February 23.

    • Here's what I heard from Scottrade back on February 23, 2010:

      Re. stock symbol / cusip - VIP / 68370R109:

      The above-listed stock is part of a non-mandatory reorganization or tender offer, which currently expires on 04/15/2010.

      If you decide to participate in this offer, you will need to inform your local Scottrade branch office no later than 10 a.m. ET on the expiration date listed above, and a $25 fee will be charged to your account. These shares must then remain in your account until the reorg/tender takes place. Please note that the expiration date for such actions is often extended and terms of the offer are subject to change.

      Scottrade is not endorsing or recommending the offer, and the terms have not been reviewed to determine if accepting the offer would be in your best interest. If you do not wish to participate in this offer, notification is not required and Scottrade will take no action on your behalf.

    • I've already told my broker to do the exchange...I didn't want to be left holding, IMHO, worthless shares if the exchange goes through. The cash offer is a No...no-brainer. After the (successful) exchange, I think this (VIP, common) is going to be a great company to be a part of. Should be very profitable and will see a terrific growth in the share price. But, because of the apparent exchange confusion, I think people might be selling just to avoid dealing with this really very simple choice. As confused people bail out the the price drops, might be a good time to p/u some cheap shares....but once you pick them up, be sure to make the exchange before the deadline 4/15/10.

    • Yes you do. YOu need to either exchange the current stock for new stock which includes the additional companies the winning of the lawsuit accomplished or else you get a non-liquid stock or perhaps an insufficient cash payment.
      IMHO

 
VIP
4.18+0.01(+0.24%)Aug 26 4:00 PMEDT