Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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I would have thought it is quite simple really, it doesn't matter if you've traded it multiple times or held until suspension, it is the total loss that you are claiming back, I guess the difficulty is determining the number of shares to put down on the form.
This is the confusing bit.
Having bought and sold and re-bought again, am I claiming for the holding I have now, with the overall cost of said holding or do I include previous trading as well.
I’d prefer just to claim for the holding i have now at the cost of the shares bought otherwise it becomes to complicated over such a long period of time.
Any advice please.
"I've tried to post this couple of times, sorry if its repeated, can someone help please, i spent 4k in total then sold at a loss i then purchased 1k worth. then the shares were suspended, so what fee do i pay? Do i pay the fee for the amount I've lost in total?"
In one account i sold some and was in profit at one point but i chucked the lot back in and lost everything. I presume I'm claiming for my original investment only.
The other account I just lost the lot. Well if it never trades again that is. I presume your only claiming up to suspension if it never trades again the losses would be bigger.
Https://x.com/ActionCopl/status/1786486640833175698
If you were unable to listen live to Michael Cotter's Zoom call, you can listen to, and watch the recording at the link below:
https://us02web.zoom.us/rec/share/r0Y8CQXifAQWD2jS1BJdAV81fm-P30W04t0InbTI-LmqwRVNuSzp2iVvNtiXUMzE.dAp60pTIsuVoyO3H
On the face of it, the banding system was a good starting point for fee allocation.
Having now seen the timeline for pro-forma, followed by invoicing, the data encapsulated on the pro-forma's should be the factoring indicator, not the initial interest shown by 500+ respondants.
A simple spreadsheet could remove the lower end of investors from the fees and the remainder should be on a proportional basis once the application deadline has closed.
My household (inc. Wife) will pay £550+Vat for a total holding just over £40k, that will be the same as Mr Goozee should he join with his £
But you can't go by what ones holding is at suspension as lots of people sold and bought back on the way down - maybe multiple times. 🤔
Ok yes I thought so, thanks
Tuvic - I know what you mean as I have multiple trades 🤔😮
Total loss I think 🤔😮 fullasanegg
Very difficult to go through years of investments, especially if you had a trading pot and was buying and selling regularly.
I would need pages to get all that down.
Do we really need to provide details of every single trade?
Shouldn’t it just be shares held and cost of those shares held.
I've tried to post this couple of times, sorry if its repeated, can someone help please, i spent 4k in total then sold at a loss i then purchased 1k worth. then the shares were suspended, so what fee do i pay? Do i pay the fee for the amount I've lost in total?
Well you get my drift £500 for £500k investment same as £500 for £50k investment. Don't seem right to me - but ha ho it is what it is - just saying that's all. 🤔😮
Someone with 10k invested pays £125 +vat
Well I personally don't think it fair that someone that has £500k invested / lost ( at the moment) should only pay £500 the same at some with £10k investment.
I think would be fairer if they paid more - eg £2000 each, just would sit a bit better with me that's all.
But I do thank everyone involved for all the hard work to date.
Thanks 👍
Most pdf applications allow you to annotate (add text) to the form, then save it and finally add it as an attachment to the email you send to Mr Cotter.
Help,my tech skills are limited,i filled in the form but don have a clue how to print,nothing on form to say print,sorry guys for my ignorance some of us oldies cant keep up with tech
Stas, there are many views on this but ultimately as you say no matter how you look at it the small fees are still good value.
I urge all to sign up to stand a chance of recovery of something back.
What I am looking forward to is the auction of Arts personal belongings....
I would bid $500 to acquire his "last" shirt.....
Good weekend to all ;-))
Shouston, yes I think it reasonable, its swings and roundabouts, put your thinking then on the foot of someone that invested £300,000, if the average return is 70% they will receive £210,000 back or put this way, they paid more than others to get involved, but lost £90,000 in their claim as opposed to someone that paid £125 to only lose £3000 of their original £10,000 investment.
Ultimately the HNW individual could contend that they paid over 4 times the amount to be involved in the case and yet received the exact same, no more or less the advice as those that paid less to be involved.
Personally I think it is fair and however you look at this it excellent value.
PRO FORMA & ID fully completed and sent back for myself and my wife. Let's get our huge investment back PLUS!!!!!
Wishing everyone every success in getting their investment back and these people dealt with.
Thank you CAG, MC and the rest for all the hard work you have done so far and have made this a reality.
Orchard
If the CA is successful then we can claim our costs back, no?
Also don't forget VAT is added as well so the £300,000 example has a fee of 0.22%.
Although I agree with you, 1% initial outlay is still a small price to pay to be part of a Class action where there is a high probability of getting the other 99% back.
Logic would say to me you are looking to recoup your investment, i.e. what you have spent to get to hold the shares you do today, (or did in the case of those that have sold). In that respect your investment is capital and charges.
When you look at the case you have to say to yourself, if I had not been lied to then I might not have invested thus in my mind investment is everything that went into the cost of buying your shares, the costs are specific to your transactions in copl (i.e. they would not have been incurred were it not for buying shares in COPL) thus should be taken into account when working out your investment. RBM can clarify logic would tell me, I cannot see how they are not part of the equation.
Stas, and Bullorbears
Nobody (least of all me) is complaining about paying a fee. Nor is anybody suggesting CAG member should pay more than others. They have done a great job compiling evidence and bringing it to this stage!!!
I have been strongly promoting uptake on here and other forums (TG), and fully support this action, and for what it is worth will be signing up and paying my fee.
It is the banding that irks me slightly.
The lower band fees roughly equate to about 1% of your investment, but after £35k this reduces.
So for instance, somebody who has invested £300,000 has a fee of 0.18%
For peeps who have invested say £2,000,000 then their fee percentage is 0.03%
This is the point that myself and Wwal have highlighted.
It appears that those with higher investment pots pay less.
Is that fair and reasonable?
again sorry i'm probaly being a bit stupid, what i am saying is i have spent 35k, but with my charges from hargreeves it brings me to the next band, i know were only talking an extra £100 but i aint got a pot to **** in at the moment.
having said that i will be joining