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Congratulations Mr.James.
My initial thought seeing that 19k+ trade was it being yours. :')
Well done indeed MrJ .... your way certainly worked in your favour in this instance ... Just stuck another £5k (less fees) in myself just to see if we can exert a bit of upward pressure on the bid LoL ....
Result managed to get them back at 26.45p after selling at 29.7 ok RNS now please
Good luck MrJ .... hope you get your money ASAP .... I also hope we get the RNS we want ASAP ...... aaaand..... there's that biting of fingernails I'd be doing right now.... ;-) LoL
Well what I actually did on the day of the webinar I eventually got through to Lloyds (on Hold for 40 minutes) and got that quote So I decided I would do it my self. I had 2.5k cash in my acc so bought new shares with that and then sold £17.5k at 29.7p but cannot get the money out until early next week, although it looks like I might have done well I am just praying we don’t get an RNS Monday morning. Selfish but Wednesday would be better
....for some perspective for £40 I'd definitely let my broker do it for £687.67 I'd definitely be doinf it myself .... somewhere between those 2 values I'd have a ponder LoL.....
I'd recommend Interactive Investor for their Bed & ISA transaction management... I moved £20k of KDNC on the 6th, and sold 80,004 to re-buy 79,856 in the ISA, so I lost 148 shares in the transaction which equated to c£37, which I think's pretty good considering the spread at the time. The transaction happened around midday on the 6th, which is quicker than previous years, but I placed the Bed and ISA request in the very early hours of the morning just in case there was a queuing process in place.
Actually thinking about it, it was probably the share sale that takes the several days to clear before it can be transferred. That would make more sense. Anyway, I Bed and ISA nowadays...
Morning @Bannor. Completely agree. It was just a heads up for those that didn't know that the transfer can take several days. Or a least used to take several days if doing it yourself, it was many years ago I found this out the hard way! LoL. Obviously it's practically instant when your platform Bed and ISA's for you - and that is the point I guess. ;-) The spread they use will depend on several factors. Some are able (and willing!) to put it through with practically no spread.
Good morning @Bannor ;-)
will they transfer the cash for you over the phone... i.e. you sell... they transfer... you buy... so you can try to beat the spread yourself... or if they want the trade fee... they sell... they transfer... you buy...
Firstly good morning Obs..... indeed Indeed, but just one thought on that, if you need to sell shares just to buy them again (i.e. if you haven't got access to £20K cash that you can run a smaller risk with reasonably easily) should you really be trading AIM unless it's a fixed Pin/Game money amount that you've previously set yourself...... Although by the apparent state of some posters sanity on here it wouldn't surprise me if that were indeed the case..... people risking money on AIM they can ill afford to.
Each to their own though eh....
Also morning to MB, Frankie, MrsB, Mr C, Mr J, TC, Dallas, Eric, Cause & of course Yap Yap.... :-)
Indeed @Bannor. Just a friendly warning from my experience for those who don't have £20k to put in the ISA before they sell the shares. I thought I was being clever. LoL.
.... you didn't read what I wrote then OBS ..... I said put the cash in your ISA 'first' then buy them in your ISA 'before' selling them in your standard trading account & recovering the cash back to where you got it came from when the SP recovers sufficiently to cover the buy & costs ..... I also warned it could cost more if the SP goes in the wrong direction but then we're trading AIM so we're hardly risk averse eh!!
Beware DIY Bed and ISA, I once thought I'd do this myself. Sell. Transfer. Buy. But hadn't banked on it taking a few days for the transfer to clear before I was able to buy back - even though it was the same platform. Fortunately the share price fell over those few days and I ended up with more shares. But I won't be doing that again, especially for shares where news is imminent! LoL. If you don't know how long it takes for your platform to transfer funds, you could do a DIY Bed and ISA for a small part of what you want to transfer, as a test?
Why is it ambitious, that’s only 1.3p in old money and we have amapa now and £20m in EMH keep up mr cautious if we do end up with 49% £1.30 will be very cheap
Wow !! Do you believe that on £20K of this share at todays price you will make £100K profit ??? Thats a £1.30 bid price - thats ambitious !!
Following on from my Bed & ISA response regarding IG, I did my own "Bed & ISA" as @Bannor and others have explained.
I bought an ETF outside of my ISA as IG had incorrectly classified it as not ISA-eligible. After buying it I realized it actually was. I spoke to IG who accepted their mistake, re-classified the ETF and gave me £10 compensation to sell and subsequently re-purchase within my ISA (I pay £3 per trade for UK equities).
That's a lot cheaper than having paid £40 to IG to do it for me. Hope this helps.
Sounds about right MrJ based on £20k with a spread of just under 4% (without using the bottom & top of the bid/ask) + any fees .....
That's why I put the cash in my ISA bought in there & then sold as soon as the bid rose sufficiently to cover it & my expenses..... depending on your financial circumsatnces if could be a bit of a test of nerves if the bid is or starts going the wrong way for the selling part of that strategy .... but hey ain't that why we trade AIM ..... you also might want to consider how much you might save in tax if it's in the ISA as opposed to your standard account that £687.67 might seem cheap in comparison if this does go "chicken oriental" on the right news.
Assess the Pros & Cons for yourself, make your own choice then suffer the costs or benefits ... LoL :-) take care
Well Lloyds reckon it could cost £687.67p so I told them no thanks.
Haven't done it this year ... but the way it works is that your brokers sells the shares in your standard trading account, transfers the funds to your ISA & then rebuys them in your ISA account .... so you would end up with fewer shares in your ISA than you had in the original account caused by any fees applicable (some brokers reduce/waive elements for a B&I) & the difference in the spread, although they should try to reduce that to the extent they can.
Depending on how you're set or feel, when I have wanted to do it in the past I have simply put the cash in my ISA & bought the shares in the usual manner & then sold the shares in my standard account when the costs were covered .... depending on the share & what it does it can cost you more though so you need to time your buys & sells well.
Probably best discuss the costs/ramifications of them performing a B&I in a single process as opposed to you performing them separately yourself albeit using them to do so as well....
As always you pays your money, you makes your choice....
Mr james, I did it a couple of years back and all it cost was the spread, through Barclays and they kept it very tight. We'll worth doing obviously. Move £20k worth today and literally pay no tax on the £100k you are likely to make.
Not done it but recently enquired IG about it and they charge £40 per stock.
Has anybody done this over the last couple of days and typically how much did it cost ?