This was the final email I sent to Mrs Nilupa Perera, Head of Trading,Market Surveillance & Corporate Affairs, on this matter. I would have held more shares in order to benefit from the consolidation but sadly I had not read the corporate disclosure. Her response was to reiterate the corporate disclosure.
From: Dinesh Perera [mailto:email@example.com]
Sent: Tuesday, March 06, 2018 2:30 PM
To: CDSeStatement Feedback; Nilupa Perera
Cc: Investor Complaints
Subject: Re: RE: CDS eStatements
Dear Mrs Nilupa Perera,
I write to you on the instruction of your head of legal Renu Ranatunge. As described in the email the most recent correspondence sent by the CDS is as below;
Please note that the York.N000 has been DirWithdrw-ALL- 452669 with no action or approval on my part. According to the corporate correspondence my share has been vested with a trustee over which the directors have complete control. It is unclear if I even have a proportional stake in the trustee. I do not see how the CDS and the CSE can stand by and do nothing. I am due some form of compensation or approval for the consolidation should not go through. The company has conflated the approval for a share repurchase with approval for a consolidation. This sees most minority shareholders lose minor stakes. It is petty theft.
As stated in my earlier correspondence I would also like to see online retail access to the corporate debt market. The infrastructure is already in place and it just requires regulatory approval to become functional. I would also like to see reform with regards to corporate correspondence. I believe most corporate secretaries and shareholders would prefer to handle most of their affairs through the medium of email.