The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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ok. well, its a no... they all say they need the physical share document before they can make any trades or do the conversions to NASDAQ. Capita say they wont do that without 45 pound reissuing fee, plus 950 for indemnity insurance. the reissuing fee is acceptable enough. but the grand for indemnity insurance? just... isnt! this sucks. I really feel like im being robbed off here... my options are 1) "pay a grand now" or 2) "maybe expose yourself to stamp duty later"
it implies to me that no merger is on the cards...but that is reading between the lines..so, a guess. how about you?
Any comments??
Well done you!! Halifax told me that I should receive a notification this week.GLA.
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no worries, hope it works out. def no stamp duty on aim http://www.londonstockexchange.com/traders-and-brokers/private-investors/stampdutyexemption/stampdutyexemption.htm
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yeah. good shout. i'll have a poke about and update you. and hey... Kingskin? thanks bud! I deffo owe you a chocolate bar of some sort. lolz
yeah, but that should only cost 45 quid. phone a broker, and ask them, its free to ask
I dont have a broker. I own the shares in certificate form, but yeah... the actual cert is locked away, and i cant access them at the mo. they say i have to pay them 950 pounds insurance for the reissuing process. to cover loss fraud etc. the offer seems to be "pay us a grand or pay stamp duty" surely, to open a share dealing account with a broker? im going to need the physical share cert?
hang on cos i think you are being robbed.. why have you got to pay 950? you are still on aim... sounds dodgy now i have had time to think about it.. you could get a new broker, they can transfer your aim shares to the new account, then get them to convert to nasdaq..
nah, to get the cert to sell it? first I'll need to pay the 950 indemnity insurance.
Many thanks to all who have posted regarding our forced move west. I bought my shares with the Halifax bank, so a special thank you to TheOptimist for your reassurance there. I'll let you know how the process goes when it happens. Good luck to everyone who is still figuring out the best solution for themselves. I'm holding onto my shares tightly as things are just starting to get interesting, though I did sell of a twelfth of them to fund a winter holiday in the sun, and a lean-to greenhouse for my cacti.
you could sell now or before the change, then buy back on nasdaq, then you will only pay when you sell your nasdaq shares. but due to your situation i guess that is tricky you need to to pay the 45 quid then sell then buy
thanks for the reply Kingskin! isnt paying a grand for new certs a bit much though? are there no ways to do this without paying a thousand pounds to an insurer? it kinda feels like im getting mugged off a bit here.
b'cos that is the benefit of AIM over nasdaq, no stamp duty. so yes its prob true
Please help guys! i'm a long time lurker, first time poster. I have a share certificate for slightly less than 7000 shares in GWP, but the cert is locked away at a family members home, and I cant access it until March at the earliest. I have spoken to Capita about this, and they said that to reissue the certificate? I need to pay 45 pound for the certificate (thats "ok") and then another 950 pound for indemnity insurance! (thats not "ok") They also said, if I just hold on and wait? I will "probably" have to pay stamp duty! Rock and a hard place etc etc. Is that true? if the shares are delisted from AIM, why would they incur stamp duty? Any bright ideas would be very well received. Thanks.
It's Friday, its late...I'm probably not in the best condition...but i have an idea.
if you dont intend to trade on a daily / weekly / monthly basis, dont pay for a trading account, olga's halifax idea might be a better idea for long term holders
Contact Halifax Bank,share dealing, and my earlier posts.
I currently hold GWP through X-O who cannot deal with ADRs. If no action taken by 25/11 they will return the shares in certificated form. Any suggestions for a broker who can cost effectively handle this transfer of 2000 shares - or should I just flog them? I think the best has yet to come, so reluctant to sell. Thanks in anticipation.
Cheers for the heads up, hopefully Halifax will sort themselves out. Checked out the basic trading account on TD but not too keen on the £25 a month min spend.
oAmadeueso. I did the W8-BEN via an online link with TD which resulted in success. Interestingly I was with Halifax and last week they said I could not trade US gw shares so I moved to TD. I see the following on my account setting "GW Pharmaceuticals Plc has announced its intention to cancel the admission of its Ordinary shares from trading on Alternative Investment Market (AIM) on 5th December 2016. GW Pharmaceuticals Plc will retain its U.S. listing on the NASDAQ Stock Exchange of American Depositary Receipts (ADRs) under ticker symbol GWPH. The announcement includes conversion of the Ordinary shares into ADRs. Please note we are verifying the full details and a corporate action including the options available to you will be dispatched shortly." Hopefully it wont involve too much hassle as I printed of the stuff from gw web site and its a bit unclear for my limited grey matter:)
I now have forms from my broker - simples - just transfer 12 to 1 to ADRs. Downside is that sales will result in $ so a cost then to transfer. Been in since 1998. Sold many, many along the way when I need to. Gotta be in when FDA approval and the buyout happens! Good luck everyone -
I have a share dealing account with Halifax,and they told me yesterday that as they ie Halifax share dealing. deal on Nasdaq all I have to do ,when i get their notification(think I could do it now if I wanted) is to log into my account,and press the (right!) button to say that I accept a transfer of my shares to Nasdaq,and thats it,seems a bit too easy to me! Why dont you contact Halifax? As for the IRS benny form thing,I have no clue,perhaps someone else will, GLA