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Bullboard - Stock Discussion Forum Electra Battery Materials Corp V.ELBM

Alternate Symbol(s):  ELBM

Electra Battery Materials Corporation is a Canada-based processor of low-carbon, ethically sourced battery materials. The Company is focused on building a supply of cobalt, nickel and recycled battery materials. It is engaged in the business of battery materials refining, including refining material from mining operations and from the recycling of battery scrap and end of life batteries. It... see more

TSXV:ELBM - Post Discussion

Electra Battery Materials Corp > RBC Direct conversion inaccuracy
View:
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?
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