Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Yes its a bit unclear to say the least. I think the fact that the popular brokers are so indecisive and unclear...shows no one really knows since the Uk govt decided to take such action. I listened to the investor meeting a few days ago re h1 and what where clear on is that you are a shareholder whatever course is taken.
I got a made from fideility and it is not that informative and just padded out with things like what isa etc has what impact.
If thr listed on another exchange...in the meeting they said the uk govt in any case restricts them from doing this. So if they ever got permission to delist..it may well me that they can retrade on the ftse so may as well not get paper certificates.
Also if they pay a dividend and we have shares in the broker...could they pay us ? Its all up in the air and unpredictable. I think i will just leave mine as they are...
I am still torn as to what decision to make.
The broker at Halifax not very useful when speaking to them. They seem perplexed as to why Evraz asking everyone to withdraw shares to paper.
I am considering splitting my shares and taking out half in paper. Have to decide by their deadline tomorrow.
It’s giving me an headache lol
China would definitely be the final nail in the coffin. An option but high risk with very little if no reward.
" There is only MOEX this could trade on and I do not think that is a viable option for them."
what would stop them listing on an alternative market eg china?
if they get delisted from LSE then they could look to moscow or decide a more "friendly" foreign exchange.
i still contemplating - but slightly favouring certs. only because if they do list elsewhere - and i am beginning to think that might have to be a serious possibility if the war carries on - i think it will possibly be a real pain to then get certs from HL ...so you might be stuck in limbo for awhile, and also more expense. seems doing it now is free and relatively easy.
i will lose isa tax status...but if just kept for future dividends should be fine
i dont see evraz having my bank details as a big problem..i will use a dusty old one
all in all a big pain ...and i dont see how the evraz mess has helped the ukraininsans in any way
That is if they only list on the MOEX alone.
Leaving them in the ISA. There seems to be a lot of discussion over Evraz listing on a different exchange. There is only MOEX this could trade on and I do not think that is a viable option for them. If they do they might as well through the towel in.
Freetrade refused paper certificate initially but had an offer out of the blue yesterday, stating that I can apply for paper cert by 1pm today (9th August).
I think, I'm going to apply and hold the shares on paper. In my opinion the sanctions will be indefinitely.
The point I was making is that your shares won’t disappear which iirc was what was being suggested on one of the points above.
I’d imagine at that point the major brokers will happily want them off their books.
If they don't trade on that exchange, they'll have to sort it via another company. Might cost you a bit in charges, but it can be sorted. Only benefit I see is if you're not a UK citizen, in which case you might be able to move the shares somewhere else. Otherwise you'll still be subject to UK law, and in which case, may as well keep them with a UK broker.
wolf.
I think that HK is a recognised stock exchange.
https://www.gov.uk/guidance/stocks-and-shares-investments-for-isa-managers
https://www.gov.uk/government/publications/recognised-stock-exchanges-section-1005-income-tax-act-2007/shorter-tables#hong-kong
Please check yourself, but that may well mean that if listed there, the company would still be ISA'able.
My point was, How are they going to give you your shares back? Yes, they have them but to give them back to you they would need to deal with EVRAZ directly in contravention of sanctions.
As I said, this is my understanding, which is why I am taking my shares in paper form. My situation is quite different to others however and so each must make up their own mind about where they want to keep the shares.
As I gain nothing from ISA, no reason to cling onto the tax free wrapper to hold the shares under.
"They can’t just hold onto them … no doubt they’ll end up giving you paper certificates anyway I expect."
sounds reasonable - but it is how long it will take...costs etc..i am not sure they will bust a gut especially as it will lose them business on those shares
If Evraz relist in say China or HK then HL will have to give you your shares back.
They can’t just hold onto them … no doubt they’ll end up giving you paper certificates anyway I expect.
I am removing mine and my wife's shares from HL into paper form, even though they are mostly held in ISA accounts.
Reasons:
1: I am no longer UK resident so the ISA wrapper is not important unless I move back to the UK (Not a chance in hell that is going to happen!)
2: As I am resident in a country that does not have sanctions against EVRAZ, should they start paying dividends again through some convoluted route/back door, I may be able to receive them. If the shares were still registered as HL there would be no chance of that.
3: If EVRAZ do list on another exchange, if I have the paper form I can/may find a broker that can/will deal on whichever exchange they are listed on.
If/when EVRAZ are relisted on the LSE, I can opt to put the shares back into my share account with HL if I wish. As I said, the ISA wrapper is irrelevant to myself and my wife as the country we reside in taxes all income no matter where it comes from or whichever wrapper it is under.
Captain Swag, that is my major and only real concern. I deal with HL and whilst I havnt done anything yet, have until midday Friday, I don't really see any difference between paper or staying with HL, apart from what if in 1 years time whilst still sanctioned Evraz decide to move to chines / middle East etc stock exchange, could we lose out investmentas HL dont trade in those, whilst people holding the paper certs will be happy???? I'm edging towards paper but then again, everything I've written above could be a load of tosh, GL all with whatever you decide
Evraz have gone through a great deal of time, effort and expense with Computershare for managing our paper certificates. I'm all set up now, have my own account with Computershare to manage my Evraz shares. Sorted.
"Also he said if Evraz relist to another exchange e.g French, German New York, he said it would be easier to continue to trade via the Halifax. "
the issue is what happens if it ends up on moscow index or chinese or middle east etc. i see HL don't trade in those regions normally.
the worry is that if gets chucked off lse then unlikely to be going to a main western index - i would have thought?
I'm with you pal, if it ain't broken don't mend it....
I've chosen to convert to paper share certificate. I don't see any downside to this and if you leave them with your broker you may not be able to trade if and when that is allowed again. The RNS stated
"It is anticipated that after the Termination Date CREST members will not be able to transfer the Company’s shares electronically due to the fact that EVRAZ, as holder of the register, will not have access to the CREST clearing system and all transactions will need to go through the Company with a stock transfer form and can be subject to a stamp duty."
Keeping mine in ISA, as is.
I'm NOT getting share certs. I hold 12,000 shares with Halifax, just in an ordinary share account. Having discussed it with Halifax who kept stating "they are not allowed to offer advice" but he couldn't see any real advantage of share certs. Also he said if Evraz relist to another exchange e.g French, German New York, he said it would be easier to continue to trade via the Halifax. Or of course if they relist on the London stock exchange which would be our best scenario.
I'm not sure what the best advice is really, but I'm leaving mine where they are and hoping for the best when this war is over
still undecided
be interested in how many are and why or why not?