Jan 25th 2011, 17:39 System Announcement
by Skip Oceanlane
ISE/SLCapEx Merger UpdateDear ISE and SLCapEx Shareholders:
I have been getting a lot of questions regarding how the International Stock Exchange (ISE) companies will be moved over to SLCapEx. I think it's best I fully explain the process in a News Story, so here it is:
1) There are 11 companies listed on ISE. All companies will be moving over to SLCapEx, unless the CEO of a company objects. If a CEO objects to moving to SLCapEx, shareholders should contact the CEO of that company for future information.
2) Trading will be halted sometime later next week on ISE. At this time shareholder lists will be transferred to SLCapEx.
3) After shareholder lists have been transferred, all 11 companies will be visible on the SLCapEx Trading Page as a "Halted" status. Trading will not be enabled yet.
4) At this point former ISE CEO's will be advised as to what the SLCapEx rules are. Once a CEO is in compliance with SLCapEx rules and policies, and their company has been approved by SLCapEx to trade, an announcement will be posted that trading will start at a particular date and time.
5) Companies that are not in compliance (missing CEO's; do not agree to follow the rules and regulations of SLCapEx; other infractions) will be given up to 90 days to comply. SLCapEx pledges to try and work with all companies to solve any issues if they exist.
6) After 90 days, or it's been demonstrated that the CEO's don't intend to abide by the rules of SLCapEx, they will be removed from the system. Note that these companies still exist and shareholders of those companies should contact their CEO/Owner for further information.
I hope this answers any questions you may have about the merger. Again, thank you all for your patience and understanding during this process. I am hopeful that all companies will come into compliance, even if they aren't currently, but I will not allow a company to be traded here where the CEO and/or operators of a company are MIA. Thank you.
CEO and Majority Shareholder