Certificates for SGR
posted on Jan 31, 08 04:15PM
I thought you all might find my experience getting stock certificates for my SGR shares useful.
Until last November I held them in a European bank that I found out kept them at CIBC. I transferred all my shares to a Schwab account because I couldn't get certificates through the European Bank. SGR was the last to transfer. I then asked Schwab to order the certificates and eventually found someone there to do it. They all started ariving except for SGR which I was then told would not be coming because there was a "chill" on the stock, meaning you could trade it but not get certificates they explained. They did arrive maybe a week or two later, again the last to arrive.
I may be wrong but I interpreted this as there being some confusion over who owned the shares or maybe them being loaned out, a practice CIBC describes on their website.
"In a securities lending arrangement, absolute title to the security passes to the borrower."
from
http://www.cibcmellon.ca/Contents/en...
I welcome any other interpretations.