The following institutions are a downright disgrace
Let me name and shame them. The offering was undertaken by a syndicate of investment dealers co-led by Scotia Capital Inc. and Haywood Securities Inc. and included BMO Capital Markets, Sprott Private Wealth LP, Raymond James Ltd. and Salman Partners Inc. Having said the above let me explain why.First of all these institutions all get paid a handsome retainer probably as much as 6% by ALS(and obviously you the shareholders) these are the easiest of shares to place, with their lucky clients. They placed the shares at CA$14 and promptly let the shares fall to CA$13,40 the last buyers being Latimer,UBS,Scotia,Merill Lynch and Questrade.....Where were the money grubbing syndicate .They stick their clients at CA$14 but at CA$13,40 the shares are NO good this is where the DISGRACE is accounted for. One would think that a client who paid CA$14 on Wednesday wouldn't like to top up at CA$13,40 and they even went out sellers at CA$13,46. As a shareholder in ALS don't you feel betrayed by those mobsters.I know that when I was in the business there was an after sales service we owed to the client NOT just take the FREEBIE and disappear.What kind of filth do we have to put up with???? ALS will be earning over CA$30 million within 16months ,this fact seams to have been swept under the carpet.What about dividend paying? If the current shareholders feel ripped off by the mobsters behaviour then SO should those "NEW" holders whose shares were listed on Wednesday.