Copy of original post in forum.litecoin.net
Hi all,
Im happy to announce first ASICMINER passthrough in LTC.
Below the contract details:
Issuer and Asset Info:bitcointalk profile link:
https://bitcointalk.org/index.php?action=profile;u=63590EMIF blog link:
http://emifunds.blogspot.com/Google docsheet:
https://docs.google.com/spreadsheet/ccc?key=0Agd_0WpyYummdEJlSzlEblRKYU1mbzByRld3ZkVuVEE#gid=0ASICMINER1K-PT forum thread:
https://forum.litecoin.net/index.php/topic,6600.0.htmlAM1 thread:
https://bitcointalk.org/index.php?topic=253673.0Original ASICMINER thread:
https://bitcointalk.org/index.php?topic=99497.0Abstract:ASICMINER1K-PT is solely a pass through to -currently- AM1(representing 1 whole ASICMINER share) on HAVELOCK INVESTMENTS.
SharesEach 1 share of ASICMINER1K-PT represents 1/1000th of a share of ASICMINER maintained and verified by either Friedcat or any officially designated exchange.
Quantity and Source of SharesEach issued 1000 PT shares are -currently- backed by one share of AM1 on Havelock Investment. Shares cannot be imported or exported by shareholders at this time, but shares can be freely bought and sold. Shares may be imported at will by the issuer alone.
Currently public portfolio link for the asset:
Public Portfolio DividendsEach ASICMINERM1K-PT share has the right to 95% of its respective dividends. 5% will be retained for asset management fees. The amount of the dividend is defined as the same amount distributed by ASICMINER to the shares held by the issuer for this asset. Dividends will be paid within 48 hours or less of confirmed payments from ASICMINER or AM1.
Voting RightsEach passthrough share has no voting rights
Dissolution & Termination of the AssetIn the event that the issuer chooses to, or is forced to, close this asset for any reason, the following methods may be used for dissolution in any combination:
1. A new operator may be vetted and chosen by EMIF to take over control of the asset.
2. Shares may be bought back from shareholders at a reasonable market value.
3. Shares may be converted to direct whole shares and redistributed to shareholder e-mail accounts with Friedcat.
4. Shares may be converted into equivalent whole shares on any other existing ASICMINER passthrough or exchange and redistributed to shareholders.
Reserved RightsIssuer reserves the following rights.
1. To change schedule of dividends to be in line with any changes in schedule the underlying asset may enact.
2. To make changes to this contract that represent the best interests of its shareholders , before contract change , there will be 2 weeks to be active when its announced.
Issuer can reduce management fee i.e. (2%) or back to original rate again , or issue more than IPO number provided that shares backed with ASICMINER shares without prior notification
3. To correct and clarify any gross errors or details herein that may prove to be open to misinterpretation.
4. To change the backed AM1 shares to direct shares or equivalent whole shares on any other existing ASICMINER passthrough.
5. To limit the total amount of shares allowed within the asset once it has reached 5000 whole shares (5,000,000 split shares).
Other Terms: IPO funds and management fees collected may be used to reinvest into adding new shares to the asset as demand dictates.
Dividend payments made more than 72 hours after their issuance from ASICMINER will be paid 100% of the original ASICMINER dividend.
A google doc sheet will be published to track the PT's dividends.
Exclusion of GuaranteesThis pass-through makes no further guarantee shall any issues arise with ASICMINER's issuer and AM1's issuer. Should ASICMINER and/or AM1 issuers requires any fees/process to claim shares arising from any issue/event, fees will be paid in full in the name of the pass-through holders from future dividends.
Warnings and Disclosures:Due to the regulatory and legal environment the exchange operates under, the
exchange considers all virtual goods traded and utilized to be FOR ENTERTAINMENT
& EDUCATIONAL purposes only
