Because I have still not yet received my Noront shares for my tendered Freewest shares I wrote Ms Jobin asking what she could do. She replied:
Feb 23, 2010, at 8:43 AM
Dear Sir,
Please note:
We have been diligently investigating why there has been a delay in you receiving your Noront common shares.
In connection with our offer to acquire Freewest common shares, Noront was required to take up and pay for the Freewest common shares validly deposited under the offer no later than 10 calendar days after the expiry date. Noront took up and paid for all validly deposited Freewest commons shares on December 11, 2009. Further, as required, on December 16, 2009 Noront paid for the Freewest common shares by delivering the requisite number of Noront common share certificates to the depositary, Equity Transfer & Trust Company. Settlement with each shareholder who deposited Freewest common shares under the offer was then made by the Depositary who forwarded a share certificate representing the Noront common shares to which each depositing shareholder was entitled. Unless otherwise directed in the letter of transmittal, Noront share certificates were issued in the name of the registered holder of the Freewest common shares.
If you were not the registered holder of your Freewest shares, your Noront shares would have been issued in the same manner as your Freewest shares, in the name of DTC, as the registered holder of your shares, and as requested on your behalf. The share certificates were delivered to DTC within the required time. Any delay in the transfer of your Noront common shares once they were delivered to DTC is out of the control of Noront and is not attributable to any action or failure by Noront, which took appropriate and timely steps throughout.
We have contacted DTC in an effort to determine the reason for its delay in processing the transfer of shares from DTC . As a result of those inquiries, we understand that the transfer of Noront shares are to be expedited as soon as possible. Should you have any further questions in this regard, they will need to be directed to DTC or your broker directly.
Regards,
--
Joanne C. Jobin
Vice President, Corporate Communications
TDAmeritrade, my broker, says it is in contact "regularly" with the transfer agent but now after two and a half months still no Noront shares or warrents. TDA says other customers have this problem but that it can do no more than it is are doing—about the same as what Ms. Jobin says.
So who is this powerful transfer agent who can stiff Noront, its shareholders, and even TDAmeritrade—as in Toronto Dominion Bank? Wow!
Hey, maybe it's those rascals at Goldman Sachs.
