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I emailed Perseus 5 days ago about this warrant announcement and so far heard nothing. Not a good sign that.
Engaged brain, but forgot to request that any imput would be very much appreciated.
Because L&H are as yet refusing to answer my questions, concerning excercising the Warrants by Noon on the 27th June, and they having informed a client that if this option is not executed, then excersing the Warrants at a later it will be neccessary to Bed & ISA the resultant shares to hold them in an ISA, at obviously a greater expense. Now engaged brain, so find enclosed said correspondence. Unlisted Warrants in Perseus Mining Ltd in your Vantage Stocks & Shares ISA. Each Warrant can be converted into One Perseus Mining Share by paying the exercise price of AUD0.44 per Share until expiry in April 2019. Important Information for ISA holders Please note that Unlisted Warrants are not a Qualifying ISA Investment under HMRC Regulations and as such must be removed from your Vantage Stocks & Shares ISA. You have two options available to you: Option 1 – Exercise your warrants. If you wish to exercise your Warrants now you may do so and can retain the resulting Shares within your ISA. To exercise your full holding and receive 42,754 new Shares would cost you AUD 18,811.76. We will debit your account with the Sterling equivalent, subject to the prevailing exchange rate at that time and standard currency service fees. As such, we cannot confirm the exact amount in Sterling that will be debited from your account. Please ensure you have sufficient funds available within your Vantage Stocks & Shares ISA to cover your purchase before giving an election. If you wish to exercise your Warrants within your ISA you must give us an instruction before noon on Monday 27 June 2016. You can give an instruction to exercise your Warrants online by clicking on your Vantage Stocks & Shares ISA in the ‘My Accounts’ section of our website. Please select the Dark Blue Corporate Actions Icon alongside your Perseus Mining Warrants and follow the instructions provided. Please note that your Unlisted Warrants are currently held directly on the Australian Share Register. If you elect to exercise your Warrants we will be required to post an instruction to Australia on your behalf, which will be done shortly after 27 June 2016. The resulting new Shares will initially be issued on the Australian Register, after which we will need to move the Shares into the UK Settlement System, Crest, before you will be able to trade them. As such we cannot confirm the exact date that you will receive and be able to trade the resulting Shares, but anticipate the entire exercise process will take in excess of 4 weeks. Option 2 – Re-register your holding into a Vantage Fund & Share Account. If you do not wish to exercise your Warrants at this time you may transfer them, free of charge, to a Vantage Fund & Share Account. You will be able to exercise your Warrants within the Vantage Fund & Share Account at a later date. If you do not have an active Vantage Fund & Share Account you may open one online or our Helpdesk should, in mos
Received a Corporate Action letter from TD Waterhouse this week stating that the Perseus warrants are can be exercised anytime up to 19 April 2019. I am not aware of any changes to this date.
Back trading and to 0.49 A$. Funding raised by issuing new shares at 0.50A$
The news from Australia overnight of the huge placing probably fits in with this. A message goes out from the Registrars to get as much money in as possible and not to worry if it is not strictly true. It seems that quite a number on the Hot Copper discussion forum have doubts over the quality of the management. I emailed Katharine yesterday and an automated reply came back saying she had now left, but could be contacted on her personal email.
Hi, Alan80, I believe you correct in your assumption, L&H have informed holders of Warrants that they can be excersised by the 27th June, and the resulting shares can be held within their ISA, which is a contradictionof what we were told during the takeover period. ie Unlisted Warrants are not a Qualifying ISA Investment under HMRC Regulations. Indeed in view of the fact that L&H also stated that the Perseus Shares could be valueless, which no doubt was the reason vast numbers of small investers bailed out many at a loss, just confirms to me that all that went/is going on with this take over stinks. As Katherine Sutton definately gone,? its just that I recently recieved an email from her, with her mobile number and indicating she is now Head of Perseus Customer Relati0ns
Bad news with Katharine Sutton having now left. I hope Perseus are not trying to bounce people into exercising their warrants as there is an announcement that originated from the Registrars saying warrants need to be exercised by 5th July. Does that suggest they are desperate for the money?
Warrants in my account today. Can't sell them myself by the looks of things.
I spoke to them yet again on Thursday (2nd June). ''Still awaiting notification'' from Australia is the same response. I pointed out to them that other brokers had got the warrants in to people's accounts weeks ago. Are these warrants tradable, if so what is the current price?
Warrants still not in my account, Tomamara. I will contact TDW to see what is going on.
Yes Kev, it's good news and one in the eye for TDW. I still don't have the warrants in my account - are you in the same boat? Tom
Received this good news from Katharine Sutton today: Hi Kevin, I'm sorry for the delay in responding to you, I was waiting for confirmation from TD before I sent you the information. Our registrar, Computershare, has a relationship with TD so I asked Computershare to approach TD about this issue. Over the past few days Computershare and TD have worked together to find a solution to problem and I'm pleased to tell you this has now been confirmed. TD is going to work with another broker in order to allow TD customers to trade their shares without having to do a cross border transaction. I'm giving you this information as background but you don't need to do anything in order to benefit from it, it just means you can trade through TD and you won't have to pay the initial £65 charge. You may wish to call TD to confirm this but if you have any problems trading Perseus shares through your trading account please let me know and I'll follow up with Computershare again. I hope this helps, Best regards, Katharine Katharine Sutton | Head of Investor Relations| Perseus Mining Limited
Please click the link to view an announcement by Perseus Mining with important information for former Amara shareholders: http://perseusmining.com/aurora/assets/user_content/2016%20May%2025%20Amara%20shareholders.pdf
Hi Tomamara, I received the same email today. Let's hope that a solution is found. I'm sure Amara didn't intend for their shareholders to incur a £65 charge in the first place.
e-mail I received this afternoon: I've been speaking to Computershare a lot over the past few days and I'm hopeful that we've found a solution to the problem that will mean you will not have to pay the £65 charge in order to trade your Perseus shares. I'm afraid it isn't confirmed yet so I can't divulge the details but I hope to be in touch again later this week in order to give you the information. In regards to your other point, Perseus are seriously considering a London listing and more information will be released about this in due course. Best regards, Katharine
Thanks Kevin - she has now heard from someone else in the same boat as you :) The guy I spoke with yesterday at TDW told me that all their clients would be charged the £65. He also told me that there would be no charge for the warrants when they show up in my account.
Hi Tomamara, I emailed Katharine Sutton, Head of Investor Relations, regarding the £65 charge and asked if Perseus would list in London. This is the reply I received today: - Hi Kevin, Thank you for your email. I have received a number of emails from shareholders who hold their shares with TD Waterhouse and I haven’t heard from anyone else that they have been given this advice, which seems strange. I will contact Computershare, Perseus’s registrar, and see if they can shed any light on the matter and then I’ll email you again to give you an update. In terms of the London listing, we are considering the merits of it and we have committed to announcing a decision within 12 months of the Amara merger completing. I’m afraid I can’t be any more specific on timing at this point. Amara’s nominated advisor, Peel Hunt, did extensive research before the merger and advised the company that the vast majority of UK brokers allowed their customers to hold and trade overseas-listed shares (including Australian-listed shares). I’m very sorry for the problems you’re experiencing and I will try to help you find an answer to the problem. Please let me know if you have any other questions. Best regards, Katharine Katharine Sutton | Head of Investor Relations| Perseus Mining Limited
Kev, if you exercised your warrants, then you would have Perseus shares in your account. Would this mean that the Perseus shares you received for the Amara shares would then become tradable without the fee? Maybe they would not as they are expressed in £££. Just a thought in order to avoid the £65 grab by TDW.
Thanks Kev. I've decided to take a long term view with Perseus, so will leave the shares as they are for 3 years. If PRU list on the UK market, then it will save me giving TD Waterhouse £65 for doing very little. Nice to have the warrants in the money from the word go. Current price for PRU show that they got Amara cheap IMO. I'd like to hang on and see Yaoure go in to production.
The answer to your question is no. I spoke to TDW on Monday. They also told me there will be a charge of £65 to cross-border my Perseus Shares so that I can trade them on the Canadian Market (not the Australian Market). If Perseus decide to list in the UK the charge will not be necessary. I have emailed Perseus Mining to find out their intentions. Can't wait forever though as I am sitting on a substantial profit since the Perseus shares increased in value. May decide to pay the charge so I can trade.
Just spoken to TD Waterhouse. They want £65 in order to have my shares to trade on the Australian market. About a month ago they set up a dummy line on my account that showed the Perseus shares and the book cost was in Australian dollars. Last week it changed to ££££. Has anyone actually got their Perseus shares in their account whereby it shows a current value and is tradable? The warrants have not yet come in but they will automatically show up in Australian $$ and there will be no £65 charge. I'm not a happy bunny.
Perseus Mining has just released an announcement with important information for warrant holders: http://perseusmining.com/aurora/assets/user_content/2016%20May%2017%20information%20for%20warrant%20holders.pdf
Nice to see Perseus sp doing quite well - currently 0.595AUD. Continuing to hold warrants and shares and nice to see the warrants are 'in the money'. Put another shrimp on the Barbie !
If you intend to hold onto your share for what hopefully is the goose that lays the golden egg then it is pointless converting the warrants into fully paid up shares until just before the end of the warrant conversion date. Invest the money needed to convert the warrants until needed. Hopefully 3 years down the line Amara's mine should be well on the way to, if not producing gold and Perseus share price should be reflecting this.