Thanks Kid for the new board, glad to see so many familiar ids.
One way around the post limit is to create multiple ids - most of us today have more than one email address.
I was thinking today that we are missing some really good contacts for emailing our sentiments about Allen-Vanguard and the way the have done business, just be very careful what you say.
rryan@allen-vanguard.com
dluxton@rogers.blackberry.net
dluxton@defsec.ca - Defsec defsec.ca;
613-789-5136
provides investment capital to .. read it it is hilarious
I have an old acquaintance, a retired stock broker from Montreal who has been consulting occassionally with the RCMP for the past few years on white collar crimes. I'll look him up this weekend, he will know exactly who to call to turn up the heat, (he may end up actually working on the case).
I haven't heard anything from my MP about my email - time to inform the Loyal Opposition leader Iggy, join in guys, his staff may actually bring it to his attention if we ALL email him ?
ignatieff.m@parl.gc.ca
Mr Ignatieff:
I am writing you, hoping that you may be able to help me, and possibly prevent a corporate trend of deceipt from further developing.
I am a shareholder of Allen-Vanguard, a company which is averting bankruptcy by selling its' assets and liabilities to a US buyer, while shareholders are provided nothing.
* RBC is the lead banker - whose onerous financing terms, and warrants at .21 assured a poison-pill that no buyer could swallow.
* An exclusive US buyer locked the company in discussions over many months, preventing any other company from submitting a proposal.
* The CFO had aggressively written down assets, ensuring asset value reduced to levels below the $200 million dollar financing, and shareholders have nothing, (2 years ago, paid 600 million for just one division, 2 other divisions exist).
* The order backlog, which for years has consistently been in the $100 million US range, was unreported in the most recent MD & A.
This company has numerous multi-million, multi-year service and maintenance contracts with the US military, last year they received a single $100 million US contract alone. Yet we are to believe that there is not enough remaining asset value to pay the shareholders the 11 million dollar market cap !!!
I am left with the impression that as a shareholder I am screwed. If this would have been a bankruptcy, at least the books (as they are) would be opened for review, and bids on individual divisions would be open to all. The individual pieces are worth a lot more than the debt.
I am certain that this is a scam - if not a crime, but don't know what to do to get anything stopped, because if this isn't stopped - it will become the norm for all challenged Canadian company's going forward.
Thanks for your time, |
