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Touring50 - thanks for that m8.
I eventually received an email from Barclays .......
Dear .......
I wanted to let you know that the incident has been raised on your account today in relation to the market value of your Calidus Resources shares.
As I mentioned on our chat, the new line of stock is not tradable and I know that we had intended to sell these shares however due to the issues encountered with the Australian Registrar, the share won't be sold until we have received further communications from them.
As soon as we have more information, we are aiming to send out letters/emails to all of our affected clients. I also agree that the current market value does not seem correct as the internal book cost that I have is £2882.30 despite the Market value of £142.68. I will come back to you again as soon as I have more information. If you do need any further help or guidance then please call us on 0800 279 3667, please note that we have had to change our opening times in light of the current restrictions. Our new times are 7:30am to 5:00pm Monday to Friday.
Hi Tom, Barclays would only let us do this before November 19, they only gave us a few days and we had to xfer our KRS holding. It was all very strange and complicated and a bit of a mess. We do not have the option to xfer which again I would say is very suspect but I believe it's to do with who holds the shares on their behalf. I have had various arguments with their corporate team but have now given up. As soon as they sell my shares I will be buying the same amount with my IG account.
I’m surprised to read Barclays have not yet sold your CAI shares. If you don’t want them sold at current low price can you not do as advised in Oct 27th RNS? “If individual shareholders who hold Keras Shares through a Nominee company want to transfer their Calidus shares to their own name, they will have to execute a simple off-market transfer form with their Nominee company whereby the Calidus shares will be transferred to the individual, who will be issued with a new SRN. Off-market forms can be found at https://automic.com.au/media/forms/Standard%20Transfer%20Form.pdf. Any queries regarding this form should be directed to Automic.“
Hi Stock, yes I have some cai with Barclays and they are showing the wrong price, but spoke to them on numerous occasions and it is just a dummy line to show you how many you have. They are going to sell these and we cannot transfer or sell them, which is another issue I have had various chats about. A few staff have been really good at trying to sort this, but corporate actions have been rubbish in telling us what is going on. Not sure when they plan to sell as obviously the market is mad. The longer they hold them the better I think.
Hi all
Just spent 40mins speaking to a customer service advisor via online chat at Barclays (only way to speak to anyone). Absolutely hopeless, and could not understand my issue.
Does anyone else here have the same problem as me i.e. their CAI holding in Barclays Smart Investor a/c being valued at a fraction of what it should be?
TIA SR
Hi PC
Many thanks for that, yours like D1G's reply certainly reassures me that Barlcays indicated value of my 28,823 CAI shares as being £142.51 is totally wrong.
Many thanks to you both - GL and Keep safe
Hi Stockraiser
In answer to your share value query, these are the figures I’ve been working with!
RNS ( 9739T 20th Nov 2019 )
The ratio of shares was slightly reduced to 1 Calidus for each 3.4519 Keras shares held!
So taking your figure of 1,000,000 Keras shares = 289690 Calidus shares.
The consolidation happened and as such this figure reduced to 28969!
Now, to allow holders to allocate their profits from the transaction my broker ( Hargreaves ) split the buying prices of the Keras shares,shown in the portfolio, in the proportion ( Keras 41% Calidus 59% ).........some may have a different split, but all my families accounts are around these numbers!
So we get back to today!!
Share price Calidus A$ .22
A$ to £ = .494
So each Calidus share is worth £0.1087. ( if we could even trade them.......but not just yet! )
Just as an aside the £ to the A$ has dropped by around 12% since Feb 2018!
Hope this helps with your calculations!
Awaiting some good news in Q2 for the upgrade.........if they are allowed access to the area during lockdown!
All stay safe !
PC
D1G - Cheers for that - certainly confirms my formula. I had just under 1m KRS shares and ended up being allocated 28,823 CAI shares, which is correct.
But here's the issue - barclays indicate as follows.... BOOK COST = £2882.30 / LAST PRICE = 0.4944p / VALUE = £142.51.
Where the hell they get that 'last price' from I do not know, perhaps their computer is working on the price of CAI shares before the consolidation. Tried calling them all day but could not get through.
Thanks again m8 - appreciated.
Stockraiser, my Bestinvest investment account has 2m KRS shares waiting patiently for something, anything, please God, to happen, ha ha. My allocated CAI distribution is 62,099.07 precisely after the consolidation, with the value of £6419.19 precisely. Hence per 1m KRS an allocation of 31,049535 (i think) CAI shares with a value of £3209.595 (i think). My Bestinvest accounts are a day behind with ASX stocks so with CAI rising by 7.32% overnight the figure of £3209 approximately becomes £3444 also approximately. Hope this helps. ATB. :o).