KLA 0.00% $52.69 kirkland lake gold ltd

KLA and Agnico merger - bad deal for ASX investors

  1. 16 Posts.
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    Dear Forumites ,

    Usually , I am a silent participant in various discussions .

    However , the merger " of equals " between KLA and Agnico is a very bad deal for the Aussie investors .

    Reasons :
    1) if successful , KLA will be delisted from ASX . The new entity will be listed in TSX .
    2) There is no premium to KLA s/h for this merger , and the exchange rate between AUD/CAD brings a lot of uncertainties and further reduction in gains .
    3) The merger will trigger a " CGT " event , hence it's a double whammy in terms of stock conversion to a new entity .
    4) There are no many brokers in Australia that allow to invest in TSX , hence the cost is high .
    5) Finally , the voting process shows the dishonest and unscrupulous company's conduct towards s/h.

    Computershare is a registry for KLA . I own multiple shares , and the vote by proxy is always done online since I specified my voting preferences as online only .
    Computershare sent the voting letter to my old address , and when I finally got the letter it states " mail or FAX response " by 23 November . I've contacted Computershare and it appears that KLA hasn't provided the details to vote online or to participate in the shareholders meeting . In a nutshell , the absence of the vote will be counted as "YES".

    I have submitted a formal complaint to ASX and ASIC , but I don't have much hope with those clowns . I urge all the s/h to vote NO for the merger since this deal stinks .
 
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