Re: Confusion re 100:1 spolit
in response to
by
posted on
Nov 09, 2012 01:50AM
Just a question, who is speaking for the loyal small investors holding less than a 100 shares? So Probe directors do some fancy legal footwork and squash the little shareholders? What kind of message does this send out to young investors starting out with limited funds, that our membership dues are going up so you're out?
Will directors be receiving more shares as a bonus for this small cost saving move? Seems like the directors time could be better spent elsewhere. Years ago I worked for Pershing and Co. in the odd lot service center at the NYSE. Odd lot buy orders are combined to represent round lot purchases. Aside from some small savings, did the directors ever weigh that the end result could possibly effect demand for our shares? Why buy an odd lot of Probe if by the whim of the directors you could be forced out later?
It has always been expensive to purchase odd lots and now after the small shareholders have indured this expense we march them over to the exit door? Who's next, the holders of less than 500 shares?
According to many on this board, it's just a matter of time before shareholders receive a premium price for their patience but not the "small shareholders," they have been kicked out by the directors. The brilliant directors should hang out a sign to prospective buyers saying, odd lot buyers not wanted.