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Interesting movement in the NWF SP today - dropped 21% on open, only to finish flat. At least it shows that there’s support for the SP at current levels. GLA
Something tells me you won't get very far with that as they are claiming no responsibility in the delay. Unfortunately I think we are just at their mercy and we're just going to have to wait it out and keep our fingers crossed that the SP goes in the right direction. Very unfair but I can't see any other outcome.
This could drag on well into July. If they have to return the document from Ireland to Australia then start the process of changing the certificate into an electronic format - well that usually takes 3 weeks at best. Billing them for the difference in share price if it crashes.
Yep, not defending them in any way, whole thing sounds like a farce. How we are struggling for so long to rectify a problem as simple as this I don't know!
you could be right, they could just ask for a copy to be sent direct from the share registrars in Sydney AUS to IG in Melbourne, track post overnight but they unsure how to proceed anyhow with document stuck in Ireland.
Could be wrong but think the IG office is in Melbourne rather than Sydney.
just had another IG member confirm the shares were sent to IG Ireland instead of IG Australia - they having to return the document to IG Aus. I suggested ask someone from IG Sydney Australia to pop round to the share registrars in Sydney Australia to collect a copy - but they have yet to come up with an excuse as to why they cannot do that to assist.
Put my complaint in a few weeks back. How they can just absolve themselves of all responsibility when other brokers have issued their shares weeks ago I don't know.
put in complaint to IG (they can make you wait up to 8 weeks to respond anyhow) and register complaint to the FCA about IG and the lack of information and help. This mornings IG response: we do not know whats happening
Sounds like nonsense to be honest and totally different to the story that I was told about having an uneven number of shares etc. When I last chased about compensation to holders IG said that there wouldn't be any as the delay is not their fault. If the below is true then I would beg to differ.
Back on the phone to IG who have informed me the AUS share registrars sent the shares/holding statement to IG in Ireland instead of IG Australia - with nearly 6 weeks passed they must have personally been delivered by car. The share certificate is to make its way back to IG Australia before they can proceed. No one at IG has heard of special urgent delivery courier firms and will let me know when they can find the needed documents that were last seen in Ireland on how they are going to proceed - this decision making will probably alone take a further 2 weeks. Nothing is straight forward with IG.
from IG: todays response 'you just have to wait' - they could have been proactive yet again this morning to Australia but yet again nothing. Complaint put in few weeks back about the lack of any assistance and matter reported to FCA under the principle 7 rule that state all firms they regulate must communicate information to their clients in a way which is clear, fair and not misleading.
IG are certainly dragging their feet, though the upside is the NWF SP is now at its highest point since coming out of suspension. GLA
Actually i was wrong.. the transaction history shows how much i spent - but the cash section shows the value transferred in so i have been paid much more - minus £6.47 "newfield deposit fee" - so happy days made a few bob here!!
Just checked so have i. Looks like they have literally refunded the amount i spent on STEL shares... so I've made nowt!!
just got my credit on XO
todays IG response: 'you just have to wait' - sounds like this will drag into July
company secretary to NWF: There are no recorded holdings for Citi Corp Nominees in the Stellar handover register. They must be using another name. If we can find that out, we’ll be able to start tracking things. Asked IG what name or label they use, they refuse to state.
Ok, so after a long discussion on the phone, barcs have told me they have received the nwf shares but are in the process of allocating them to all those holding stel shares. Then they will write or e-mail everyone concerned as to what they want to do with them, ie... keep the paper certificate, transfer them to another broker etc. This, they tell me, will take some time. Couple of months if Jim is correct !
I've also just been in contact with them and pushed them on exactly what the problem was and they said: "They've told me that it's a manual process and they effectively have to convert the shares into paper form, transfer these shares to an Australian broker and then get these converted into a digital share and get that transferred back to our custodian account"
todays update from IG 'were still chasing it' - over 5 weeks have elapsed for nothing to happen
Thanks for that Stuart, I'm in exactly the same position. My accounts haven't even been transferred to IG as of yet and I started the process the week before the merger ! So by your reply, it seems Barclays have the stock but holding them ! I'm writing to them right now. Thanks again.
Hi everyone I am also a small holder of this now delisted stock, held through Barclays Smart Investor whilst transferring my whole account over to IG, Its been a very painful experience all round to be hnoest and as of now Barclays are still holding the funds in a suspended state waiting for an update from NWF....... So I thought it appropriate to write to NWF to get some direct feedback and below is a copy of the reply from them. I hope this helps some and clarifies NWF�s position here....Comments gladly welcomed I wil fight on and continue to resolve my issues with Barclays and IG..... Pasted message below.... Hello Stuart Thanks for your contact. The merge of Newfield and Stellar was completed in early May, and all new holding statements for Newfield shares were posted (from UK) on 7-8 May. From the handover register, I can see two holdings in the name of Barclays. The registered address for both is as follows: 1 Churchill Place London E14 5HP Those holding statements will have been delivered some time ago now, and are possibly sitting in the organisation somewhere. If your broker is unable to locate them, feel free to give him my contact details and I will assist where possible. For your further information - Newfield's shares trade on the ASX (code NWF), and you can see the announcements etc by visiting the ASX website (link below). The Company�s website is undergoing maintenance at the moment. https://www.asx.com.au/prices/company-information.htm Good luck, and welcome as a Newfield shareholder! Kim Hogg 79 Broadway, Nedlands, Western Australia 6009 PO Box 3438, Nedlands, Western Australia 6909 Telephone 61 8 6389 2688 Facsimile 61 8 6389 2588 Email kim@anthonyho.com.au *NOTE: This email is confidential and legally privileged. If you are not the intended addressee please delete this message. The sender and Anthony Ho & Associates take no responsibility for any changes made to this message or any attachments to it by any person or for the effect of those changes on the meaning of the message or the attachment.
meeting finished 'they chasing the shares daily' - will repeat excuse tomorrow
today IG response ' they are all at a meeting' we cant help