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Hi guys, just to update regarding ii's accounts
( As stated by 1750mk1-very correctly and exacting )
ii's statement was very Poorly written/full of ambiguity, open to wrong interpretations.
I have phoned ii's about 1400pm today and can confirm my account is internationally linked, and I simply TRADE from that platform-this can take several weeks to realise ??? could be 2 weeks -eh !
MY OWN OPINION, I think ii's have duped small investors with that Corporate Statement and made them SELL at
one fifth value 3p compared with 15p- CORRUPT surely.
I was always here for the long haul, shame some have been manipulated into selling at a mass loss, I would imagine !
Again, I thank several people from this BB, who have formed a nice group of Honest Posters, and long may that continue.
Can I claim top Spot for that 14.7p I had registered the other day- as this top price is 15p.......!
Its the coming weeks we all look forward to, as we have all endured the tough fight.
GLA here invested
Agree...exactly same for me on ii
i am on the phone NOW........
0345 6076001. I did option 7, then they talked to a broker, who in turn spoke to me
I also appreciate your input......Im sure I am not alone-scratching my head, but
With all the positive posters on here, this seemed finally a BB, where people wanted to INVEST-at their peril-but stay invested for the rightful long term rewards.
Well done to
yes... I think that ii just needed to be more clear about the mention of CPM accounts in the notice and whet they were etc... probably would've saved them a lot of messages to reply to asking.
no worries ManU ... GL
You need to check that your account is set up as an international trading account. Many old accounts are what is called a CPM account but they are really old accounts. Having spoken with Interactive Investor they are saying that they have to include CPM onto the notice to ensure compliance.
Most accounts now are by default international trading accounts but just check your :-) Manunited31
Sir, you are CLASS...............
I do so thankyou for your time, and patience in explaining to an 'ol fuddy duddy !
As far as I understand ... if you don't have an old CPM account (which is unlikely or you would know) ... then you do nothing ... they action the 'cross border' transfer from AIM to HKEX ... which can take a few weeks... then the shares appear like normal in your account and can be traded normally online.
Only difference will be that the cost per trade will go up to £19.99 or £9.99 (super investor) depending on your 'plan'... plus the following extra fees:
Hong Kong transaction levy 0.0027%
Hong Kong trading fee 0.005%
Hong Kong Stamp Duty 0.1%- (Rounded up to the nearest HKD)
Thanks for the response, but I still don't understand.............
what will happen to my stock that I have in ii's ?????
thanks for your time
from ii (who should've been more clear about what a CPM account is in the corp action message) ..
"As for the CPM account, don't worry about that. It's an old account type
where customers hold the shares in their own name and just use us to trade, as
opposed to your account where your shares are held in our nominee account. This
means we can do all the admin for you around dividends and Corporate Actions,
whereas we can't for CPM accounts - they have to do all of this themselves. We
don't offer CPM accounts anymore but we have a few from years back that we
still have to keep running."
what phone number did you use for ii 's ?????
yes, that's the standard corporate action email that was sent out ... how does that translate to "I believe they are going to send a share certificate ?... because they don't trade in HKEX" ?
Have you spoken with them ? ... Do you have a CPM account ?
StockCHINA NEW ENERGY L ORD GBP0.00025
Effective date: 15th July 2020 (subject to change)
Market affected: Alternative Investment Market (AIM)
China New Energy Ltd is in the process of applying to list its shares on The Hong Kong Exchange (HKEx) instead of AIM. If the application is successful the company anticipates that the shares will be cancelled from trading on AIM at 7.30 AM on 15th July 2020, although they do state that this timetable is subject to change.
As the stock will be listed on HKEx we will arrange a cross-border of your shares to this market. This will be initiated shortly after the cancellation takes effect. We are unable to say at present how long this process will take, but based on previous instances it can sometimes take as long as 6-8 weeks before it is completed.
Unfortunately the option to cross-border is unavailable for CPM accounts, you have the option to sell your shares or alternatively you will be issued with a share certificate by the company registrars.
ManU31... where do you get that info from re: ii ?
ii do trade HKEX ... and have told me they will just make a cross border transfer and that teh shares can remain in my ISA account and can be traded online.
The 'cross border' can take up to 6-8 weeks... but doesn't usually take that long in practise.
As far as I can tell ii appears to be one of the better online brokers to be holding with.
Thanks all. II do trade on the HK exchange...they confirmed that a few days ago and again this morning
I'm with that shower of crap known as (ii.co.uk) and I believe they are going to send a share certificate ?
because they don't trade in HKEX, or because although I am a privileged trader, I don't have the necessary correct account
Being a little thick...
I use II and they say they trade on HK, so no action for me. BUT, my HK shares won't appear in my trading account for weeks...so I can't sell tomorrow/next day...even if I wanted too...correct?
400% spread now displayed (laughing face with tears emoji and hangman's noose emoji)
Damn it. I was trying to buy 40k shares At 6p but someone bought 3x 10,000 and now I’m being quoted 13p to buy
Well someone just sold at 3.4p having been well and truely shafted
can't sell at 3p ...
Chinese lube anyone ?
Crazy from the market makers. 3p to sell. One has to feel sorry for anyone who has to be forced to sell today. These should be around 15p in a month or so Maybe market makers and AIM final revenge on CNEL for leaving AIM and moving to Hong Kong. Does make my portfolio online look scary though today!!
It’s currently 6p to buy 25k shares.