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14/02/22
10:44
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Originally posted by Gprp:
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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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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.