I just talked to Stephen Taylor from Taylor Capitol,on the phone. He says they are waiting on the NASD, to approve of the ticker change and Westar going public with Terax. It seems that once NASD approves, they can go ahead with the change and announce the dividend.
I have posted a part of the call here which might help you guys.
Adarsh : How long do you think it would take to get NASD to complete the review ?
Stephen: We should have gotten the information by now. We are waiting on NASD to intimate us about the review. The management is expecting to receive a notice today or tomorrow from the NASD.
Adarsh: Does the company foresee a price movement after the dividend is paid out? When a dividend is paid out, usually a stock goes lower by that amount? Do you see such a thing here?
Stephen: Management does not see price going any lower or dropping the dividend amount. Management sees the stock price going much higher taking Westar’s value in the company now.”
Adarsh: Do you foresee any problems or intricate situations that might lead into taking up some more time?
Stephen: When the NASD, review a ticker change they verify certain information. If they are not satisfied with what the management sent them a few days back, they might get back to us asking for some more information. But that is not a negative news, even if it happens. Such things are common. We would have to just go forward and send them an updated documentation fulfilling their needs.
This is a small part of the interview. Hope this helps. Have a call with another company today afternoon. WIll post that l8r.
The only thing I was worried was whether to load here on a small dip may be around $3. I think we can load it here too. What do ya guys think. Post your comments, or leave offlines on meebo. Do leave your email id’s for me to contact you if you are leaving an offline.
Thanks,
Adarsh.
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