KLA and Agnico merger - bad deal for ASX investors, page-9

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rvajna

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14/02/22

10:44

Post #: 59549822
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Originally posted by Gprp: ↑

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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It's a done deal now so if you still have them you are stuck with them. If you have a small holding then it's too costly to sell. The danger is that you will lose track of them if your address changes.

KLA Price at posting: $52.69 Sentiment: Hold Disclosure: Held
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KLA and Agnico merger - bad deal for ASX investors, page-9

Top Stories

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ASX Market Open: ASX200 to rise for Friday session | July 26

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