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Started by admin Sep 22 2009, 20:27
admin
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Junior
Sep 22 2009, 20:27
Hi i have 5000 shares with an american company called Renato coroporation. The prices have come down recently by a euro can you advise me if this is a good time to sell or shall i wait because they are buying 50% of vanguard pharmaceuticals company out so will it increase share prices please help.
if u look on www.renatocorp.com and look at the latest news and stock quotes you will understand what i mean. Will the merger increase stock in both companies or will one of them plummett...
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raysor
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ijsheikh
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nedrauk
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Oct 14 2009, 22:32
I also hold 2487 shares in Renato Corporation. They are tradable in Frankfurt and on XETRA.
I was sold them, without being asked, by Wizeman & Associates who had failed to buy me shares in Clean Coal Technology.
I had the Reg "S" status removed, via the Stock Transfer Agents,Global Equity Transfer Agency Mississauga Canada, and had sent the cert to TD Waterhouse hoping to sell them. I had watched them go to over 6 Euros and hoped to sell at a profit. Nobody I have approached so far will touch them! I e.mailed the company this week and have had the response "Do you not have a broker or advisor?" I'm almost into double figures asking brokers! Wizeman & Assoc said I'd be able to trade easily! Some hopes! They have vanished!
Patrick K. Murphy
Last edit: nedrauk Feb 27 2010, 19:37
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raysor
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Oct 21 2009, 21:09
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raysor
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Oct 21 2009, 22:17
For anyone who has bought or thinking of buying US shares from a telephone call read ALL 17 pages of this thread at Trade2win http://www.trade2win.com/boards/first-steps/32235-paco-oil-gas.html
Last edit: admin Feb 24 2010, 16:17
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nedrauk
Junior
Oct 22 2009, 00:12
moneycentral.msn.com/investor/charts/
They were over 6 Euros in March. The current deal situation they appear to be in probably explains the drop in price. It's really frustrating to see a 100%+ gain evaporate day by day. How the hell can an EU market not be accessible from another EU country? So much for the damned EU! Sorry about the language, but I'm blazing mad about this!
Last edit: davids355 Apr 14 2010, 09:37
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raysor
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Oct 22 2009, 08:57
What does this company actually do? I mean in its day to day business?
Last edit: raysor Oct 22 2009, 08:59
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nedrauk
Junior
Oct 22 2009, 16:47
When I contacted them about it they told me to contact the share transfer agency to get that legend removed, which I did. The address is on the cert.
I posted that link as the graph there shows the price the stock actually reached. As to no liquidity - well there was one day at least with a lot of activity (I don't look every day so may have missed others.)
When I posted here last I contacted Frankfurt direct. This is the reply (if paste works)
RENATO CORP. DL-,01
Equity, ISIN US75971X1046, WKN A0Q3ZJ, 4OZ
On our website we inform:
"The shares of this company are neither admitted to trading on the Regulated Market nor included in trading on the Regulated Market. They are included in trading in the Open Market (Regulated Unofficial Market) of FWBFrankfurter Wertpapierbörse (the Frankfurt Stock Exchange). Investors must be aware of the fact that the Open Market (Regulated Unofficial Market) on the Frankfurt Stock Exchange is not subject to the high Europe-wide transparency standards and strict provisions for investor protection on EU-regulated markets."
You were sold these share without the help of a bank? You did not use the investment department of a bank or share depository (account) in a bank?
You own the shares physically, right?
We are afraid, Deutsche Boerse cannot at all help you in this case. In Germany private investors can only buy/sell shares with the help of a bank, using the share depository (account) in a bank.
You could contact a bank, that would have to accept these shares, transfer them to a central depository, where a verification of the shares must be done first. Then the shares would be transformed from physical to digital. Only digital shares can be traded - via a bank.
If you have any further questions you are welcome to contact our Service Team by phone (+49-69-211-11670) on workdays from 9 am to 6 pm (CET).
Best regards
Peter Lingens
Internet-Hotline and Info-Service Deutsche Börse Group
www.deutsche-boerse.com
As to what Renato does - There is information on their website and an e.mail link there as well. I can add to this on my website http://pkstocks.20m.com where there are several pages on Boiler Room traders like the (now departed apparently) Wizeman & Associates! Anyone reading this may mail me via the links there.
Patrick K. Murphy
Last edit: nedrauk Oct 22 2009, 16:49
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raysor
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Oct 22 2009, 19:47
Do you know how the Frankfurt Stock Exchange,Regulated Unofficial Market (open market) works? Nor me but I have a jolly good idea. Why I asked you what Renato do was becaue I wanted you to tell me in your own words, not direct me to their website. If I asked you what Tesco does I am sure you could give me a pretty lucid explanation, as could most people, without going to their website.
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nedrauk
Junior
Oct 27 2009, 20:58
I suggest you look up at moneycentral.msn.com, where you will see that over the last few days there has been actual trading in this stock - 65,600 on the 26th and some trading today.
As to the Bourse at Frankfurt you ask me about - well I only found out about it on the day of the post. It would seem similar to the Plus market here. There is information about it on the Bourse website.
I have also attempted to do as they suggested - to find a bank which would take the stock and deal it there - so far without success.
As to what Renato do - They are to run clinics providing diagnostic scanning using the latest technology.
They are also involved in generic pharmaceuticals http://www.renatoshop.com and are seeking other complementary holdings to add. The deal with Vanguard Pharma Corp did not proceed - hence the share price drop from 6 euros.
I have also just mailed Renato direct on the matter, with the information I got from Germany. I have also mentioned that I am aware of other shareholders in the same situation.
p.s. If this was a scam, the company would most likely not exist or be exchanging e.mails with me directly. I would also not have been able to contact the share transfer agency for the company by mail and telephone.
I was misled by Wizeman & Associates re the tradeability of the stock and was personally not aware of the complexity for private investors trading in the Frankfurt market. I have looked up a number of possible banks to deal in the stock, but the Bourse website has rather a lot of inaccuracies in the list of eligible banks!
Last edit: nedrauk Oct 28 2009, 20:10
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admin
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Oct 27 2009, 22:38
Raysor is a professional stockbroker and one of our senior advisors. He is trying to be helpful and giving advice to the best of his knowledge.
I think there is a general consensus that Renato shares have been sold under dubious terms, but if you have information to prove this untrue, please publish as many factual details as possible for everyone to see - this will be greatly appreciated.
Thanks
Admin
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nedrauk
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