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$9.83 allkem limited

Mate, no offence but you are investing money in companies in the...

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traderjack

376 Posts.

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10/11/23

21:51

Post #: 70841503
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Originally posted by Stephan90: ↑

I have already written an e-mail to investor relations on both matters. Regarding "ineligible shareholders", I understand that it takes some effort for each country to make shareholders eligible, but I am not sure how complicated that is. That being said, if I look at the daily trade volumes for Allkem shares, the trade volume in Germany is higher than in Toronto, London, Nasdaq OTC. Even if I assume that many shareholders from those countries buy or sell shares directly in Australia at the ASX, there are still countries like Malaysia or Singapore on the list. Am I supposed to believe that shareholders from these countries own more shares of Allkem than sharholders in Germany? I have owned shares from Orocobre for many years, the company was already discussed here back then in certain investment related media.(I can't remember being paid in cash when the merger with Galaxy Resources happened, although this has been a long time ago.)
On good days the trade volume in Germany at various exchanges is about 10 % or more of the trade volume at the ASX, and it is much less in London, Toronto or Nasdaq OTC if the information that I can find on various financial websites is correct.
It took Allkem six months to release the scheme booklet and cost millions of dollars that I paid for with my shareholder equity. I guess it is not asked too much to be included as an elegible shareholder. Me and family own more shares than 4 of the 8 Allkem directors listed on page 211 of the scheme booklet. If this merger goes through and my shares are sold and I get paid in cash that would have tax implications, would take a long time in which I could do nothing, may result in a sub-optimal sales price, would result in additional transactions fees if I want to continue to be an investor, could quite possibly result in a higher buying price. (According to page 580 of the scheme booklet the sale nominee has up to 15 business days to sells the shares and again up to 10 business days to transfer that money to Allkem, before they could transfer this money to me, before I could reinvest it again.)

This is clearly not in my best interest. And to be honest, it pisses me of that so many shareholders from so many countries have to become now after it took them 6 months to release this scheme booklet, probably more than enough time to solve this issue for many more shareholders.

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Mate, no offence but you are investing money in companies in the hope you will make money.
There is no book of rules anybody follows and sometimes things don't go your way.
The fact you and your family have more shares than 4 directors means very little.
Either they have more information or knowledge than you or they just have better investment
strategy than you. If you are losing money on a company it's your fault. I don't see people
like Warren Buffett complain about the crap people here whinge and whine about.

AKE Price at posting: $9.00 Sentiment: Hold Disclosure: Held
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