Strathcona Resources Ltd T.SCR

Just got an answer from TD

[Seppelt]

They put me on hold for about an hour, trying to connect with the department involved. The answer is that fractions will be paid in cash and that may take a week or two to show in my account. They couldn't answer the question at what share price the cash will be estimated.
I will probably contact the company, just to ask what is wrong with them.

[uwebb429]

Some cash would be better than nothing. If you ever talk to them again let them know that is not the deal that Strathcona and Pipestone agreed to. They are supposed to either round up or round down to the nearest whole number. Brokers deciding to skim a little bit of money off of many individual investors is not a cool way to do business. Imagine the stuff that would hit the fan if banks got

[pierrelebel]

From CIBC (email): "I have escalated your matter to the appropriate department. I hope that this matter gets resolved at your earliest convenience. A resolution specialist will be in touch with you within 1-3 business days. "

[Seppelt]

I have also emailed to Strathcona and asked to confirm if the bank was correct. Not sure if I will ever get a reply, it may take some time for them to realise that it's not a private company anymore. They may have changed the terms because of complaints from certain shareholders. For instance, a fraction of .4999 will get one fewer share than .5000. The difference is about $28 at current

[Huntamun1234]

Sure appears its still a private company. Adam Waterous owns 195mm shares out of 214.4mm outstanding. Three institutional analysts have ratings....one with a $40 ticket, two others with $35. Are we going to wait till quarter/year end to see what this company is made of ?? Certainly the media coverage has been underwhelming at best. 

[Oldnagger]

This deal was sold to minority investors in Pipestone on the dubious theory , that they could henceforth be part of the stage coach robbers. Well with less than 10% of the equity , that was never going to happen.  And now with their masks taken off, what you are left with is the gang that can't shoot straight. The metrics on this company now look excellent. But long ago life taught

[bobsomething]

I can't believe some people are preoccupied about some 30$ odd dollars in lost conversion. Some of us have lost thousands because of the strathcona/pipestone merger. This stock should be trading at least 40 with both oil and natural gas recovering to last November levels. Pure bs.

[2old4this]

And less than 30$ for most (unless one had multiple positions in separate accounts). 15$-16$ max if the conversion brought your amount to exactly half a share. As for 40$ just wait, - Strath will have to report numbers. - If prices of past months are any indication, news will be positive for many. - And no way (in my mind) that not one large player is taking a position in the coming 3-12 months