SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Ride the Tiger with CD
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Bat Man who wrote (57283)7/18/2006 10:07:52 AM
From: Julian Augustus  Read Replies (1) of 313060
 
BMO also said that I'm the only one that has called about this problem, and they can't possibly do something about it until CDS gets it straight

That is a straight-out lie. I called them three times to complain about my missing share and warrant. The first time, they said their software was multiplicative, so they had to enter something like .3333 (instead of 3/10). They promised to correct it by inputting the number of shares directly instead of using a calculation, once the distribution is complete.

After about a week of nothing happening I called again. This time, they reported back (left me a message) about a day or so later to say that the problem originated from the transfer agent and they can't do anything about it. They offered to allow me to buy 1 share and 1 warrant at market with no commissions charged.

I wasn't happy, so I called back. After more "investigations" I was told that the transfer agent specified that each Capstone share was entitled to 0.3333333333 of a silverstone share plus 0.1666666666 of a silverstone warrant (note the 10 decimal places). This meant that my 30k Capstone gave me 9999.999999 silverstone shares and 4999.999999 warrants. And it is their policy to always round down fractional shares.

I argued with them about .999999 being the same as 1 for all practical purposes, to no avail. Their policy, they said, is to round down ALL fractional shares. I ended up buying the extra 1 share and 1 warrant at market (with no commissions), but the experience left another sour taste in my mouth about BMO Investorline, one of many.

I agree with you that someone in BMO is probably running some kind of skimming operation on these shares.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News