Trading Unlisted Shares

[madmike]

Direct Broking Today told me that I had to mail them
1) a signed unlisted disclaimer form
2) a signed securites transfer form
3) my $7,000 dollars worth a share certificates
Now to me this is like mailing a signed uncrossed blank cheque!!

Wouldn't i be safer selling them on trade.me?

Your thoughts

ps the securities in question appear on my Computershare's "NZ Faster Statement

[blackcap]

quote:Originally posted by madmike

Direct Broking Today told me that I had to mail them
1) a signed unlisted disclaimer form
2) a signed securites transfer form
3) my $7,000 dollars worth a share certificates
Now to me this is like mailing a signed uncrossed blank cheque!!

Wouldn't i be safer selling them on trade.me?

Your thoughts

ps the securities in question appear on my Computershare's "NZ Faster Statement


Yeah I had the same problem with them MM. The disclaimer is a Unlisted requirement more than anything else, however the requirement to send in the certificate along with a signed transfer before selling galls me a bit.

All it takes is a rogue dealer in need of some cash to be tempted. Ala access brokerage. Could easily happen.

[madmike]

mmm........disclaimer notice on the front of the unlisted website today!!!!......what prompted that i wonder?.......another show of how important/powerful ST is to the market?.......or just a coincidence

[blackcap]

quote:Originally posted by madmike

mmm........disclaimer notice on the front of the unlisted website today!!!!......what prompted that i wonder?.......another show of how important/powerful ST is to the market?.......or just a coincidence


MM, I think a coincidence, cause for me it was there yesterday before I read your post, and I sold some Unlisted last week and was told that I had to sign a disclaimer. My broker told me it was an Unlisted request and not a broker request. Think they are worried about Margaret Wilsons comments re their status and are just making things more cosher.

[blackcap]

[BTW, MadMike, what did you make of the BHL announcement?

[whiteheron]

madmike

I guess that there is money to be made in unlisted shares if you are pretty smart and know what you are doing , but for me I keep to the listed ones where there are still good opportunities but where it is very simple and without the hastles