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I have phoned HL. As evraz are not on the crest system to trade shares at the moment. I have went for the paper copy. In the future can trade on other exchanges or if sanctions lifted on LSE I can resist shares with HL
Mine are in my SIPP HL account so I can’t get a certificate !
Hi and thx all,
So I am with HL, do I ask for paper, and if I get them, will I still leave my Evraz ISA in HL ???
Wayne
If you obtain certificates this would remove them from your ISA tax wrapper, and they cannot subsequently be returned to an ISA, either at HL or elsewhere - that's my understanding.
If anything comes out of an ISA it cannot go back in, it’s an irreversible action. FWIW I’m leaving my shares in an ISA where they are and taking the trading account shares out to paper. God knows if that’s a good decision, especially giving my details direct to EVRAZ, but I guess at this point we roll the dice and take our chances. I’m assuming that I’ll be taking my shares back to electronic format in a year or so.
I am leaving my Evraz shares in my Investment ISA and not getting a paper certificate. I am still hoping for a large annual tax free dividend income from them.
Easiwynns.
I spoke to Barclays on Friday afternoon, having only just noticed that yesterday was cut off for going to certificate, he said they would happily take them back and that if it does get to that point they would go into regular trading account and I could then do a bed and Isa .
Yes, once taken from the ISA you would need to sell them and then use the current year allowance to invest back into the ISA.
That's why I think that for ISA there must be some benefit in leaving them where they are for the time being, but I'm open to why this may not be the best course of action.
If they stay as a PLC on the LSE then it makes sense to keep the option of holding the shares in an ISA. However, if they delist and stay as an LTD (or list on an exchange that is not eligie for ISA status) then your broker wlll move it out of the ISA anyway. Should that happen then you'll be stuck with the shares outside of an ISA wrapper and unable to transfer because they will be in Crest.
ISA benefits are only worth thinking about if you're of the view that they won't delist from the LSE IMHO.
If EVR moves from LSE there are other stock exchanges that qualify for ISA status, so I'm just holding in my ISA
Sure, but you are taking a gamble on whether they would list on an ISA eligible exchange.
You should also consider whether other ISA eligible exchanges would welcome a Russian company listing, especially if the company was previously sanctioned in the UK.
GLA
The way Computershare has set up the accounts for those choosing paper option I wouldn't be surprised if OTC dealing starts this year.
Lots of unknowns ahead of us, no absolutely correct way obvious, just my opinion for now that my EVR ISA holding may yet survive unscathed
Keeping the ISA wrapper is worth the risk imo. I don't see this delisting and relisting elsewhere while the current situation persists
"You should also consider whether other ISA eligible exchanges would welcome a Russian company listing, especially if the company was previously sanctioned in the UK"
Username - This is why I think ultimately the company will end up privately registered in Moscow.
And if it ends up privately registered in Moscow what will happen to the American/Canadian elements? Will Evraz be welcomed anywhere in thr West for a decade? Would they be able to access finance? Would they really survive in the current format? I just don't see it.
They're being put under a lot of pressure now, probably because of Abramovich, but there are ways out of the mess. The three Russian guys could reduce their shareholding below 50% and the company be completely transparent on what is being supplied to the Russian state. I think it is most likely that Evraz will keep a low profile until the war ends and then negotiate out of restrictions so they can trade again.
I think the obvious call would be for the non-Russian parts to be sold off perhaps.
Crickey I didn’t expect it this quick ….