No you are not mistaken and, as others have said, Regal have...

No you are not mistaken and, as others have said, Regal have their own way of operating and have screwed up a couple of companies I have been in before with their tactics. As far as I can tell - the only way to beat them is get in as early as possible and be prepared to wait for their shennigans to play out short term.

Fortunately - in my case with this one I got in early, and the fundamentals of this company are great, so I don't have to worry about them anymore.