Re: Investors Club / Last Post
in response to
by
posted on
Oct 15, 2008 09:11AM
The company whose shareholders were better than its management
You are exactly right, Boardlot, this was a setup to conceal the actual method Kinross used. They very carefully spelled out in the offer the process as per Section 306 of the CBCA, then went another route with no notation of such a possibility.
Yesterday (14th) I finally managed to drag some info out of Scotia McLeod DD and they said everything is normal, business as usual. YET, they could not explain the details of the alternative process and the authority for using it. This, from a takeover specialist officer. To top it off, he said the l0th was the absolute deadline and nothing further could be done re dissent. This turns out to be WRONG and inaccurate info from an expert!
Your conjecture seems to be correct. Mr Expert told me the shares went to the clearing house on the 10th. I said, "what about the shares showing in my account?" Oh, that's an error. Later, the K shares will replace them.
Even though a dissent seems quite impractical, I am quite sorry to see it go by the boards through this hanky panky. I'm not a huge shareholder, but this part of the deal has me fuming. Better ease up! We were just slickered, that's all. Happens to the best, they say. "We grow old too soon, and schmart too late!".
Regards, Orange Flasj