I see that I am starting to get some thumbs up, thank you, thank you, thank you very much, said in a Elvis accent hahahahahahahahahaha.
Word of mouth is a very powerful tool and I hope to have this site back up and active like it used to be. In the meantime I am the centre of attention which I just love hahahahahahahhaahah.
What I can not get over is that I and aprox 20 other investors that I am aquainted with never received by registered mail the notice of mandatory acquisition as stated in the offer and required by the CBCA.
Many reasons have been given for this apparent lapse in communication. First it was that only registered share holders were required to be sent the notice, however that is false because the CBCA clearly states that ALL HOLDERS must be sent the notice of mandatory acquisition. That would of course include the beneficial holders.
The latest reason is that it was our brokers who are at fault for not issueing the proper notification. Well since the people I know employ 5 different brokers to do their trades it hardly seems reasonable that all these brokerages droped the ball so badly. Well I can assure you that shortly after my shares disappeared from my account I, figuratively speaking, kicked down the legal departments door to my brokerage and they sent me eventually a very official responce to my questions and even volunteered information I did not ask for hahahahahahahahahahahahahaha.
Needless to say they told me who is responsible, not that I needed them to, all I was after was the official written communication of that fact from their legal department.
The CBCA also clearly states you see that an agent may not act on behalf of the Offeror in this capacity. This no doubt was written into the CBCA in order that such a miscommunication could never occur.
Kinross being the Offeror is required to send by registered mail the notice. I have sent them official communication by registered mail in order to discuss this situation however as of yet they have not replied.
I have gotten a number of lawyers opinions that so far confirm this.
All in my honest opinion of course.
F.F.
