I spoke with Comsec and they informed me of the following.
1. The situation will be resolved on the 7th of January 2011
2.If I want to sell my Spark SKI securities in the interim I have to phone Comsec and they will transact on my behalf. I can not sell SKI online via Comsec until 7/1/2011
3.If I want to buy Spark securities I can buy them online through my Comsec account under the code SKIDA.
4. The above situation is the same for all Spark security holders who trade online via Etrade or any other broker.It is an ASX ruling which we had not been informed of.
I did read the 2 page update to SPARK INFRASTRUCTURE GROUP RESTRUCTURE announcement the day it was released On 20 December 2010 and at no point was it stated by the company that I would need to undergo the new process up until the 7/1/2011 to transact (sell) my SKI securities.
So all is fine ...... apparently, I/you/we just have to jump through a couple of extra hoops should we want to transact Spark securities - Ok fine, its just the flaming fiery hoops while blindfolded I don't like. Eg. waiting on a Comsec telephone queue message system
Merry Xmas all
Cheers
Obe
SKI Price at posting:
0.0¢ Sentiment: None Disclosure: Held