Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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So reading that from HL this is a complete stich up. They changed the processes of the award of dealing these shares after everyone bought in for the free ones as promised in the UK.
This has got to be a class action at some point surely - were talking 10's of millions of shares here that everyone was promised to be held in Accustem if they owned TILS at the point of release and transfer to the NASDAQ.
This is as bent as hell if that reads as I am reading it, but willing to be corrected as not fully analized the implications as at work.
I bet these brokers are as fed up as the rest of us trying to respond to disgruntled share holder and knowing little themselves. Almost a year on re accustem- shameful.
Thanks for posting that D-Geeman
Appreciated
Board have destroyed sentiment and sp based on move to Nasdaq.... Don't forget the Accustem debacle... Still no shares. Tips still another year away from any decent rise. Board have been abismal
Just received from HL, regarding my queries. (I have TILS in my ISA was F&S accs.)
Dear Mr D-Geeman,
Thank you for your messages.
At the time of my colleague's message we did not have any details about the movement of Tiziana Life Sciences plc (TILS) to the NASDAQ; only the proposed movement. As we offer many holdings that trade on the NASDAQ without issue, it was believed that this transition would be much the same.
However, in the terms of the movement to NASDAQ, Tiziana Life Sciences has changed which settlement system they will be using going forward--making it unable to be settled on our own platform.
If a particular stock doesn't settle within the CREST system used by us to settle international securities, we are unable to facilitate trading on our own platform.
CREST is a UK-based Central Securities Depository that holds UK equities and UK gilts as well as Irish equities and other international securities. CREST allows shareholders and bondholders to hold assets in a dematerialised stock, i.e. electronic form, rather than holding physical share certificates.
In an effort to disrupt our clients’' portfolios the least, we have brought in HSBC as a third party to allow our clients to continue to deal in this share from within their HL account. However, as you have been informed, this will come with additional dealing charges.
I am sorry for your disappointment and hope that my explanation can shed some light on the situation and the reasoning behind decisions made.
At this time, you do not need to remove TILS from your HL Stocks & Shares ISA and they are able to remain separate. This will mean if you sell from each account there will be two dealing charges, but any assets held in the ISA will be sheltered from any income or capital gains tax.
If you would prefer that they be combined into a single holding, you have two choices:
1. Remove assets from the ISA and into the HL Fund & Share Account, thereby losing the tax-efficient wrapper on those shares and not being replace that value without using your current year allowance. This would mean any future sale from the Fund & Share account would be liable to income/capital gains taxes.
2. Manually Bed & ISA the TILS shares into your ISA account, of which you have used £13,262.39 of your annual allowance. This process would mean that you would have to sell the holding currently at a loss in your Fund & Share account, move the cash, and repurchase into the ISA. This process would mean realising the loss currently, but any future sales would be sheltered from income/capital gains tax.
I hope this has been of assistance. If you have any other questions, please get back to me.
Kind regards,
K***** *****n
Hargreaves Lansdown
HL & AJB let you put non-UK stocks in their ISAs
'ISA accounts are limited to UK stocks only'
I've had $Boeing and still have $Snowflake in my ISA which is with HL. Unless I missed something I don't believe that's the position Jab. You just need to complete the correct forms:
Form W-8 is the collective term for the 3 types of W-8BEN forms:
W-8BEN (Trading Accounts, Trading ISAs and Junior ISAs)
Happy about the move to Nasdaq, long overdue. I no longer hold any UK stock. All my stock holdings are in the US. ISA accounts are limited to UK stocks only
I asked HL last June about the move to the Nasdaq and my shares being in an ISA. This was their reply. I wonder why things have changed.
'Dear Mr D-Geeman
Thank you for your message.
As NASDAQ is a recognised exchange there should be no issue in these being moved over, if the company goes ahead with their plan.
Should you have any further queries please do not hesitate to respond to this message.
Kind regards
L**** C****r
Corporate Actions
Ok Shiraz, cheers for the explanation. I wasn’t digging you out but the Twitter comment didn’t correspond with what I had seen you post here previously. ATB
Good point pop.. it doesnt work for everyone though.. dddd is a good company but nasdaq bringing it down. I checked volume though and they did only 20k shares on nasdaq so almost opposite effect to us where they have decent liquidity on uk. Somewhat unknown in USA still. Same with Verona Pharma who moved onto nasdaq about a year ago and left AIM. I like that company but volume on nasdaq is dire again. Major catalysts next yr. TLSA luckily for us has around 700k volume on average a day on nasdaq and has the potential to become a favourite of the yanks in time with restructuring taking place. Less float is a must. Looking forward to the move. Until then lock them away (thanks to HL and HSBC), I dont have much choice in that regard anyway. Expecting some more pain until the move but will continue to buy what I can afford on the dips. GLA
G W Pharma springs to mind,also dual listed and did the same thing as Tils is proposing to do,you just never know with Pharma shares.G W Pharma had a market cap of a few hundred million pounds,when it delisted from LSE,eventually sold recently for 7.2 billion Dollars,Not saying this is the same but who knows.