Post by
Silverad0 on Apr 15, 2022 1:37pm
RBC Direct conversion inaccuracy
This morning I did the math to ensure the 18:1 transition went accurately. What I noticed was for my ELBM shares in my 4 RBC Direct Invest accounts the good old bank rounded down. Even if it was 10.9 they made it 10. Doesn't sound like much but it amounts to $15.14 total over the 4 accounts. I can't remember RBC ever giving me a penny so I wrote them and asked them to fix it. We will see.
Has anyone else noticed a similar thing?
Comment by
Wriggles on Apr 15, 2022 2:37pm
From ELBM's Material Change Report posted on SEDAR 14 April "No fractional shares were issued as a result of the Consolidation whereby fractional interests were rounded down to the nearest whole number of common shares." This is common practice
Comment by
Silverad0 on Apr 16, 2022 7:29am
Ok Mr. Wriggles thank you for stating the obvious as in yes that was to be expected. I am sure we all lost a few dollars due to rounding. Question is does elbm owe our brokers who in turn owe us or what?