Bestway (BSTW) held its shareholders meeting on May 23, 2005. The vote regarding the reverse stock split was passed at the meeting. The company also announced that the reverse/forward stock split became effective upon their filing on May 24, 2005. This is good news. Shareholders with less than 100 shares will receive $13.00 a share in cash.
Based on my past experience, I expect to receive the cash in about a week. When the cash hits my Coverdell ESA, I’ll update you on the status of this real money portfolio.