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Hi
MANJ
Have been with iWeb a couple of years. Its good 95% of the time. It is bad at dividends I've found. I have some BP, now you'd think somehow that would work like a well oiled machine. I'm sure it does till the iWeb part happens! Last BP divi, last week or the week before, took 4 working days till it hit the account. Another thing with iWeb I don't like compared to Barclays is that there is no notion of credit - with Barclays, maybe as I had a few years history and six figure sums invested, I could deal then feed the account. With iWeb I cant be spontaneous (maybe a good idea!!) so I have to go into my current account at a different institution, get some money from savings to my current account, back to iWeb to transfer in, then deal. Half the time the sodding SP moves (in the wrong direction of course!)
I live in hope for another corporate action with iWeb having missed the previous arbitrary deadline.
Exactly what happened John.
But poor customer service.
No reassurance and surely they could have put the information in some kind of pending notification.
Poor Service
Mangs if you check the rns I think the agent link or whatever it’s called it might be worth contacting them. I’d also send investor relations at bcn an email saying you want to accept and copy in their advisors on the deal. You’ll have to look it up on rns.
Fozdog. Thanks for the reply.
I had contacted a couple of times in advance and they advised me to wait until the corporate actions team gets in touch.. which never happened.
IG haven’t issued Zinnwald shares yet. It seems certain brokers such as HL and II have issued them but others still waiting.
Mangs the issue is the deadline for the deal times from bcn isn’t your broker deadline. It’s Xmas time and bank holidays they need to be prepared also.
Your broker will have to submit way in advance so if you didn’t accept in time that’s on you and the financials ombudsman will do nothing.
MANJUKWAI
If you accepted with iWeb the shares would have disappeared from your account and you will have received and Email on the day you competed the corporate action on line. I haven't received mine either
Sorry issued not 'received'....
I also regrettably accepted the offer (you invest). They have advised me that BCN, or whomever, has received the wrong quantities of shares to what their clients should be issued and it was taking time to resolve. It may be Iweb are the same.
I moved from HL to IG, due to the high dealing charges. But IG's communication seems non-existent and never was informed about the offer.
I am with IWEB and have accepted the offer.
However I have had no advice or information off them.
I assume I will be paid for my BCN holdings and receive my ZNWD shares on the 31.12.21.
Would really like clarification.
I have sent another message asking where div shares are, still no response.
Can you keep updated on how things go and whether you have received div shares?
I too am having issues with IG. They are ridiculously bad at sending out corporate action announcements and so I contacted them on 20th December asking when and how we would be invited to accept the offer. They advised me to wait as the corporate team were in the process of reaching out to clients regarding this.
As the BCN situation advanced, I contacted them again on 21st December morning and received a reply on 22nd December stating the deadline passed on the 21st and there is nothing they can do.
Selling on the market at 0.5p less would leave me with approx £500 deficit.
I’ve tried explaining to IG that the offer remains open but am getting nowhere with them.
I stuck around with them thinking at a time like this, a big company like them would be easy to deal with but they turned out to be the worst. With their share dealing fees and relatively recent introduction of custodian fees, I think I may transfer out to T212 / Freetrade.
I may have to escalate this to the ombudsman.
johnpwh, "being a nerdy pedant swot (like wot I is) I would correct one thing you say".
I'm sure it doesn't affect you either ;^)
Although this issue doesn't effect me triki, I'm sure it's helpful to anyone in that situation.
its this sort of post that singlehandedly justifies boards like this.
HL will allow you to keep unlisted shares.
When BCN offloaded ZNWD to Erris Resources, art of the deal was that Erris Resources could divest their Scottish gold exploration into a separate private company owned by the Erris |resources shareholders, so BCN did not get a share of it. The new company Erris Gold Resources is private/unlisted and so cannot be held in an ISA. When the split happened HL created a 'Fund and Share Account' and transferred the Erris Gold Resources shares into it.
When I spoke to HL recently they advised they could do the same with any BCN shares I held after they delisted.
In theory if the transfer is made in the same tax year that ISA is opened then you should be able to top up your ISA by the amount that was transferred. This wasn't the case for me so I didn't pursue it.
An alternative is to ask HL to issue a paper certificate, however they have suspended that service at the beginning of Covid.
Yes you will, its a dividend so all shareholders on the qualifying date (6pm on the record date, 17th September explicitly shown in the RNS of that date) will get the ZNWD shares
I am with IG, I did not take up the offer in time, do i get the ZNWD shares? What are my options?Any advice welcome!
Merry Christmas and a Prosperous 2022
Alas it is our last ..... on this board at least!
No doubt most will meet again on the ZNWD board
John
Yes frogster, I intend to hold for a bit.
I looked at Zinwald when was it was 12 ish but then the fundraise at BCN happened. At the time I opted to increase at BCN as the fundraise was at a fair old discount to the then price. Wasn't a bad decision given the ZNWD SP at the moment. Lithium (at least battery grade) is obviously sought after both now and in the foreseeable future, with hydroxide and carbonate prices effectively doubling in the last year.
I wasn't going to chase ZNWD to the mid 20s but obviously watched more closely recently.
Following what appeared to be a badly received fundraise last week depressing the ZNWD SP I bought a couple of lots. I need to find out a bit more about ZNWD, its not exactly the profile of company I am normally attracted to. Seen too many earlyish stage AIM miners with great potential eventually make lots of dosh.....for everyone but the original AIM shareholders, often the bondholders.
So I feel I have research to do over Christmas, obvious potential and will be closely guarded as an asset by the EU.
Hi John - yes, going to hold onto them and added another wedge yesterday as well. Hoping to do a bit better there than I did here. What about you?
I concur frogster. Are you planning to keep your ZNWD shares?
Agree Foz. No reason why a broker cant refuse to hold unquoted stocks, i assume that would be in the Ts&Cs that they force people to sign (and which of course no one reads!). The alternative has to be a transfer to another provider, hopefully while not being charged to do so. I personally think life id too complicated to seek out unquoted investments, indeed non UK investments. The ombudsman case with Barclays I pursued was an AIM stock which became a private US company which was taken over by a NASDAQ company. Barclays just became hopelessly inadequate in sorting it out before the NASDAQ stock plunged. After that I said to myself....keep it simple, there's plenty of fish out there. Mind you in that the case if I hadn't have won the case I'd have been better off. Think it 10 bagged after I got out! With investing/gambling I found that the first 50 disappointments were the worst, got easier after that!