Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
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Recently new to Investing. Hi to All. Last post Indeed.
Giving 3 hours notice by email, IG have just rang to say the Transfer to AJ BELL (who have been brilliant) cannot be done in time to avoid a FORCED SALE OF SHARES at the market rate, currently 3.5p. Even though first attempts to transfer started 3weeks ago.
IG must have the worst service ever. Never answer the phone. When they did we were put on hold for over 3.5 hours. They take 3 days to answer an email.
If you guy's can offer any route to achieve some recompense, complaint procedure, onbudsman, all advice welcome.
Wish you all great success on the HKex Market. CNEL deserve success. All the very best to all.
Hi Bossman20
can you NOT get this share as a Certificate.............surely you can then use AJBell to transfer that into ?
Just a thought mate
Surely, if you do nothing
it reverts to a share certificate which they send to you-can take weeks
do nothing-dont SELL
As far as i am aware where your broker is organising a hard copy certificate i am aware there are brokers who can deal with that, although i mislaid the name as i asked HSBC before i moved my position to Interactive Brokers. However it is not AJ Bell and most of the known online brokers as i asked a few if they could handle that back in the day i found HSBC UK could not hold the shares themselves and i needed to transfer out. AJ Bell only deal electronically and appear not able to handle hard copies. probably a little bit of research is needed. i think Silver Brick was mentioned by Richard Bennett as a broker directly in HK that could handle this but i am sure there are some closer to home in the UK.
Thanks for your input Guy's.
When IG contacted us buy telephone this afternoon, we asked about the Paper certificates. (We fully expected to wait for a few weeks for these) They clearly stated there was no option for paper certificates, due to lack of time. We had also, already sent copies of the Transfer Request forms to IG via post, when we sent the forms to AJ Bell. We followed this up with an email confirmation the following day.
The ONLY option offered was to sell. If we did not sell by 16.00hr they would instigate a forced sale, without access to any compensation process.
We have not sold, as we feel that would make us complicit. So, we assume they will have stolen our little nest egg, at a knock down price of 3.35p / share. We will see tomorrow!!
AJ Bell have actually sent all the forms electronically this afternoon and posted hard copy via recorded delivery in tonight's post, in an effort to assist us, maybe all too late though.
We feel this situation is designed by IG. They claim they were only notified of the migration to HKex this morning.??? This we find hard to believe.
This has been a short but interesting investment trip. You Guy's had made this board friendly, interesting and informative with some amazingly detailed information. Thank you all. Wishing everyone a safe an fruitful journey via HK
Keep safe.
Hi All. Paragraph taken from the Cancellation AIM Document
"For investors who did not return an election form, Hong Kong share certificates shall be sent to the registered address. For the avoidance of doubt, no shares will be cancelled and shareholders will maintain their interest in the Company upon Admission. For further information on receiving their share certificates or trading their shares on HKEx, shareholders should contact their brokers or financial advisers."
sorry to hear that bossman. the mm's totally kicked the arse out of it today. with an unbelievable 400% spread at some points. just down right criminal and preying on the ones who would be forced to sell today not by their choice like yourself. they barely liftd the bid offer of 3.5p which was crazy. was sitting on a 50% loss at one point. im luckily enough my broker was HL and are able to hold onto these and sell in coming weeks but it shows you how currupt the aim mms can be. obv there is still a market for CNEL shares this last week and also right up to today with people being forced to sell and others happy to buy below 10p. but to have the bid at 3.5p was nuts!
look forward to the new chapter in cnels journey and hopefully it gets off to a good start tomorrow and end of the week. could ease the pain of aim market the past week for this share.
hopefully youll be able to get your share certificates and able to transfer them to a broker and sell your shares in coming weeks.
mms truely robbing pi's
Bossman. How many shares do you own. Do you know if they have been forcibly sold
BOSSMAN
Read the 2 RNS's that were posted at 5pm & 6pm
Both are to your advantage.
States it in Black & White- your shares (ALL of them) are still ALL yours-
well done for hanging in there, RIP off Brokerages !
GLA woo woo
Hi all. Thank you for your support and suggestions. We have 106k shares which still display in our account tonight. We will be taking further action tomorrow, speaking to AJ Bell and Financial Conduct Authority.
IG have offered £60 compensation as 'A gesture of good will' Haha
Hi, In my opinion only, don't accept the £ 60.
IG were trying to CON you, and same as ( ii's ) the info supplied was lacking alternative actions that the owner of
the shares COULD have opted for.
SUCH AS, 'do nothing and the shares are converted to Paper Certificates, which are sent to the Registered address,
and can be Traded at a later date, with NO loss of any shares, the certificate may take a few weeks to generate.
I also had a statement more or less telling me- 'I had to SELL' - but then the same Broker ( ii's ) drew the blinds,
and wouldn't accept a pretence trade-to establish how much they were actually ripping me off !
Good Luck
Huge volume So went as high as 1.38HK but price has tanked somewhat. Dropped as low as 0.74 HK and currently sitting at 0.81. 103.74 million shares traded. A fifth of the stock. What volatility
Interesting start to our new journey, looks like a high volume of trades to get us going but it’s slipped back somewhat from a great start. Looks to be building up again slightly. Fingers crossed it gathers some momentum as the day goes on .
I wonder if Double River kept their stock or instantly released it to the market as the volume looks very high for the first few hours trading. The volume was nearly 20% of the complete holdings traded in the first couple of hours.