MOLD TEK PACKAGING---dividend plus growth

Stock Opportunities Untested - but worth a good look
209

I finally submitted the Off Market Transaction with a Reason Code of 29 (Deposit of securities with Escrow Agent and its return). Here is the complete process that I followed

  1. Filled up the DIS Slip with the DP with the Reason code as 29 and specified execution date as next day. The DP keeps the original slip with them and gives you a counterfoil.

  2. On the transaction execution day, you must provide your consent, following which the warrants will move from your DP Account to Ventura’s account. Early morning at around 7.30AM I received an sms as well as an email from NSDL with a link to confirm the transaction. Clicking the link takes you to the NSDL eServices website where you have to enter your PAN and then confirm the transaction.While confirming the transaction, you can clearly see the Target DP(Ventura Securities) , Target Client(MTPL Rights Demat Escrow Account Warrants), Quantity, etc.

  3. After providing consent, by evening, the warrants get debited from your DP and you can no longer see them. Thus you know that your warrants have got transferred into the DP Account.

  4. I then couriered the application form, demand draft(you can also use cheque/pay order), and a copy of the counterfoil to Mold Tek(Address specified on the application form)

Last week, after putting this post up, I called up the Company again and got a gentleman on the line(couldnt get his exact name and designation unfortunately), but he took the efforts to clearly explain to me the entire process, thanks to that, I was able to complete steps 1-4 seamlessly. He mentioned that the management usually meets in the mid of the month to approve the conversion of warrants into shares, and within a week from that, the shares get credited into your account. So I anticipate that I will get my shares somewhere after 20th September. There may be a delay this time due to ongoing preparations for the AGM.

I was very much wowed by the way in which he took the trouble to explain the process. Most people usually do not provide you with satisfactory information and redirect you to others which was what I was experiencing prior to getting him on the line.

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