Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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AJamesW, are we going to provide our bank details to ZAZA?
Gassa, if you love, live and understand the market you will succeed.
Markets are computer driven. Take care and think twice before you press the button.
It is too easy to get carried away. All the best.
I think a lot of people are concerned as was I although this specifically relates to spread betting - I had another reply from IG this morning:-
“ Yes, at times, there is a payout to share holders in case of a buy out. Clients on leveraged accounts are entitled to the terms of the buy out.”
3 different staff members at IG have told me they won’t pay-out until FRR is registered bust/bankrupt & if it’s sold or realists shorts & longs will be paid if long or owed if short.
Jippy, I feel strongly that too many Private Investors get caught in ignorance. Heidi explained how IG clients
are treated. PROS know but Private Investors get caught. PROS find a way to escape. Investors trust this board and are
misled. WHO is WHO? I have stuck it out with the wrong shares that were promoted on this board and let go of EUZ
and other good shares. I have learned a lot but I am ashamed having been fooled but admit to warn others.
Hi mapp can you help me please I am an old age pensioner and i have frr shares and i have an ig acc i saw your blog and it has made me very scared about my frr shares and what is wrong with ig please could you help many thanks
IG finds fresh fodder on the Internet and is no longer allowed to advertise on walls
and exhibitions for INVESTORS. Before you open an account it is made clear that
80% of Private Investors lose all or more. That information was withheld in the past and if one has
opened an account in ignorance before that warning came out one may have a good reason
to make a claim.
IG seems to be popular with AIM "INVESTORS" who are gamblers and not INVESTORS.
It may teach them a lesson they did not expect. The moaners are therefore jealous of us
INVESTORS who regard gamblers as a nuisance . AIM is a GAME. Keep smiling.
Good Luck.
Personally I don’t give a flying toot what goes on with IG, as that has no bearing on my holding.
Most likely true, if the company does not resist (likely were we to be bought over), then those long on IG do not benefit one iota, as theirs is one of no physical holding of a stock.
Whereas, those holding shares will either receive the offer price, be it in cash, in stock of the company taking us over, or in a mix of the two, without the shares ever requiring to be relished on any exchange to accomplish that.
That is not to say that I am confident that we will be bought out, more that I feel it likely we will remain unlisted till the boom or bust point is reached.
Hence why I feel that IG can close out their positions, as if the share doesn’t relist then those with a short bet win, and those with a long bet lose, and why those with a long bet will not benefit even if the company is sold.
At least, IMHO, that is the fate of those long on the share through betting with IG, but how those with a physical share holding could still benefit were the company to be bought out, even if we never relist on any exchange.
"HSBC IMO knows the fate of FRR....and for us shareholders I believe it is enormous."
what do you mean?
Yes Jester. Cheers.
"Diamonds are a Girl's best friend." MM turned it into a song.
There are more FAKE Diamonds than precious ones. Buyer beware.
Diamonds are rare.
erazzel: here is my post of 11 September re IG payment of shorts:
'I received a reply from my IG contact now that he is back in the office:
"There has been an update. IG have settled all leveraged positions at zero. Which means shorts have been now received their profit - which were previously were held in proceeds account. It also means long leveraged positions have also been settled at zero and losses have been booked.
I received this this morning;
We have been notified by our broker that Frontera Resources has been removed from Crest and therefore removed off our book, which we have replicated as per procedure. We have asked if the Broker has further information on this and if we receive anymore we will send it over to you. Usually, in the majority of cases, if a stock is removed from Crest it means there is no further cash return to shareholders or a relisting. Rest assured if anything does have happen in the future we have a log of all client positions and will match the underlying market accordingly, where possible.
IG do not have a view either way and simply follow broker instructions.
I am trying to find out the process of reinstating positions both long and short, but my first thought is that it is unlikely that short positions will be reinstated at this point due to the fact if profit has been credited. There is nothing stopping that client taking their profit and closing account etc. not that it would come to that but it would be hard to enforce short losses once trades have been settled. Also clients who had short positions would have taken them against IG inventory so our broker wouldn’t not have a record of those positions. I imagine long positions will be reinstated.
Hope this helps. I will send more through as and when."
The question is why has their broker (HSBC) taken this action???'
Is this the post?
Yes CF73. You are correct. I'm away at the mo but will try to dig out my old post tomorrow.
I just wonder if Robbie's info is from a while back ie before they paid out the short positions.
GLA
CF73 - In July I also had a similar response from IG. Last month my long position was removed from the proceeds account. However I received an email shortly afterwards from IG confirming my position would be reinstated should FRR relist on a UK exchange. They were not sure what would happen if FRR relisted on a non-UK exchange.
IMHO with HSBC making the decision they did it is more than likely that FRR will never relist - certainly not on a UK stock exchange anyway. HSBC IMO knows the fate of FRR....and for us shareholders I believe it is enormous.
I thought we had golden tickets but MadP seems to have turned them into diamonds....
Now that is interestimg Robbie, thanks hugely!
ODR said he had something confirmed to him but it seemed to be a different response to yours...
ODR, you about??
When I asked if shorts had been paid this was IGs response:-
“ Clients wouldn't have received a payout as the stock is delisted. What would've happened is that client's with short positions that were in profit would have had their profits moved into a proceeds account which they couldn't have withdrawn from. This would remain in the account until we have further information from the company as to a relist or a payout to shareholders.”
It is rigged . We are in it together and if IG jumps the queue one has to question
an Organization for it seems that INSIDERS can escape while INVESTORS are stuck?
That is a scandal in the making.
I still cannot understand how HSBC/IG paid out. Doesn't make sense. Whatever theory is provided, it remains unclear to me as it doesn't stack up. You pay your money and take your gamble. That payout, to me, only serves to highlight a rigged market/ system.
tempts with a modest punt on FT-SE . You make and lose and watch the screen. One day you lose, next day you gain.
Same with AIM . In and out, round and round. For bookies this game seems perfectly sound. They need new fools for
80% lose. Many lose more. Many end up in the gutter. No home, divorce, poor health. Respectable investors can turn into paupers. It is a scandal, swept under the carpet by those who should close down the GAMBLING Torture DENs.
GAMBLERS keep quiet, suffer in silence and ??????? YOU NEED a LICENSE before you are allowed to take part.
A TRADING LICENSE. BEWARE. THEY DO NOT CARE. A Shark Pit needs to be fed and it should not be YOU.