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Special Situations Warrants Enters Active Trading
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Written by Nicolo Luminos
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Friday, 23 January 2009 |
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For SLReports.net SASw Goes Live on ACE Trading Floor...
Despite Special Situations (SAS : ISE) migrating to the International Stock Exchange (ISE) away from the Ancapistan Capital Exchange (ACE) earlier this month during the period of uncertainty regarding the ACE's future, #1 shareholder Arbi Tomsen's SASw(ACE) has been moved to active trading on the ACE trading floor.
SAS(ISE) CEO Wenden Xeno has taken some heat for his delisting from ACE from some shareholders who have grown accustomed to his typical 100% shareholder participation in all SAS(ISE) decisions, but Tomsen was not one of his detractors. In fact, Xeno has posted in the ACE forums since the ACE Crisis was resolved that he looks back and thinks that he may have made a mistake in retrospect, but given all available information at the time, has no regrets.
SAS(ISE) remains heavily invested on both exchanges, and the SL Stock Market bellweather has been long regarded among the handful of "blue chips" available to investors. Private investor Arbi Tomsen bought up over 250,000 shares late in 2008, largely in anticipation of issuing the SASw(ACE) program, and with the confidence of knowing that whether the warrants proved massively successful and completely sold out, or if it started out as a boutique financial instrument, that holding such a massive amount of SAS(ISE) shares would be a benefit for his portfolio in either case.
A total of 6,071 warrants were issued, and can be redeemed by informing the ACE exchange via a Support Ticket, and including an additional L$2.50 per share, and in return receiving one share of SAS(ISE), which will remain on the ISE. How this will be viewed by investors--some of which can be quite stubborn in being forced to work with other exchanges--has yet to be seen. Some SAS(ISE) investors have expressed dissatisfaction with being "forced" to trade on the ISE, but a very large percentage of Second Life Stock Traders trade across all 4 exchanges, even if they have individual favorites. Top News:
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Last Updated ( Friday, 23 January 2009 )
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