We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Just been in contact with IG and have received the below update which I guess is progress on 'we're chasing it' : "The most recent update we received is that we have received uneven amount of shares from our custodian. So, our team is working on it to receive the full amount of shares so that we can allot accordingly" Hopefully now they have sent the shares (some of them) to IG then this hopefully won't take too much longer to resolve. At lease it's proof of some contact between the two parties.
todays response 'were chasing it' lol, repeat message
IG todays response - 'we're chasing it' - no one knows what exactly the delay is, who to blame for the delay, what to do about the delay, just going round in circles. Will be repeat performance next week. would suggest putting in complaint to your broker if still no assistance - that alone will take a month
As previously stated, I am with interactive investor. I can confirm I have received my shares.
Judging by the surge in volume and the trading patterns over the last two days, I can only guess that some UK brokers have their shares and are starting to sell on behalf of clients. The SP keeps dropping on open (presumably to deal with all the orders lodged) and then climbs back up through the day. Shame we've had a constant drop in the overall SP since Tuesday though. Hopefully once this churn is out of the way, the SP can recover...
My broker is DeGiro. I've been repeatedly emailing them even though they've ignored half of my emails. They emailed me today with an update: "This email is just to keep you up-to-date with the status of the case; The shares have still not been delivered to us, therefore we can't credit them yet to your account. There has been a delay in the payout of shares, by the agent of our prime broker. We're trying to get the shares delivered as soon as possible." Not sure who their 'prime broker' is but it looks like we're all in the same boat...
stock I would suggest raising a complaint with your broker about the delay - as that alone can take over a month and gives you some bargaining tool if you wish to dispute prices later if you fail to achieve any current market sell price.
I guess the other positive of this wait is that the currency rate has improved a fair bit in our favour since the start of May.
Interesting volume on NWF today too - over 400k traded which is significantly higher than the average of 60k. That would suggest to me that some UK brokers now have their shares and are selling them off...
But remember they understand your situation and are continuously chasing from the highest level so you can expect to receive an update at the earliest! Just not sure if it's the earliest day, week, month or year so unfortunately can't give you a timeframe. I pushed them on compensation to holders yesterday and they said they have a team considering it. It's lucky I don't need access to my funds in a hurry!
IG 'we are chasing it' lol - come back next week for repeat message
Spoke to X-O yesterday - said they will be issuing certificates/ cash shortly. I asked what does that mean but they couldnt give any timescales.
Someone mentioned in a previous post that Citi are the custodian of IG�s allocation of shares
just phoned again for todays rant, they still awaiting holding statements and in 4 weeks nothing has happened! IG have yet to be proactive to get the ball moving.
does anyone know what name IG nominees used on the Stellar Diamond share registrar? Its not an obvious name like IG nominees or similar. The Australian registrars have no record of IG so stuck until they can search other names.
Another worth trying option is to contact phone or live chat via the IG.com/au site. May get direct to Australia for better update.
Nice one Hardy. I'll have another go at them tomorrow to see if we can get any further. Hopefully we are not too far away now!
I�ve been trading emails with IG all day. I used the line that as the longstop date was 31st May, the custodian/IG might now be in breech and questioned whether customers would be eligible for compensation due to potential loss of earnings. This at least made them reveal that they think shares will be allocated within days, rather than weeks/months, though they would still not reveal any concrete timescales. We shall see!
The NWF shares are showing up on my HL account. However, HL will not be able to take a dealing instruction until the stock has settled in their custodian account. I also got told that the minimum fee from DBS Vickers is AUS$200, this is in addition to the HSBC fee (�15 or �20) and 1% HL fee (minimum �20 / max �50).
I can confirm that I have also received NADA. I am with interactive investor.
Managed to get some info out of them. Their custodian (CITI) have yet to receive the shareholding from the registrars for Newfield Resources (Advanced Share Registry - Australia). I have sent email to the registrars asking for an update see if that provides any help. IG have no end date in place to assist - it could drag on until July
Price is looking good! Bid: 0.200 Offer 0.240
Latest from IG; �This is to confirm that our Corporate actions team in Melbourne office are chasing this issue as well.�
It would be a logical reason but a pathetic one, email exists and IG also have an office over in Melbourne so time differences really aren't any kind of excuse here.
I actually don't think IG know Australia markets open at 1AM (UK time). As the IG corporate action team go home at 4pm (UK time) apparently, they are getting no response from Australia as their office is closed everytime they try to 'chase them'. Someone in IG needs to be proactive and phone at 1 am (UK time). This at least would be a logical reason as to why 1 month has now elapsed for absolutely nothing to happen.