Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Dave no certs we’re sent out by hsbc despite repeated enquiries to them instead we were told to contact registrars but they downed tools
You say we are all on the register whatever but I wouldn’t like to bet on it
In the same boat CB, when I contacted whoever took over from Selftrade they said to get a cert from FRR, I tried but of course heard nowt.
Mapp the expert thanks
My shares with selftrade, now iii , have gone.
HL moved FRR from ISA to Trading account.
ON-LINE investment is a nightmare and I wonder.
Too much confusion and too many fraudsters get
away with crime.
The Corporate Actions department of every broker has the share certificates for those people that used their Nominee holding. These were sent out to each holder once they went private by the Registrars. In theory if we ever go back to market then these shares will be deposited into Crest and holdings will therefore show on your accounts as prior to delisting. Those people who choose to have a certificated holding should either have their certs or have maybe lost them/other. Indemnities can be sought once a new Registrar is appointed....big if. GLA time is drawing nearer.
I was moved to II when Selftrade folded. When FRR delisted they were removed from my holdings and therefore no holding in II, anywhere. My only hope is that the transactions records passed over clearly show I am a holder.
II say they won’t post a holding unless they receive a valid certificate which few have - I certainly have not got one……. One day maybe……
My FRR shares are with ii and are still showing in my ISA Account. They have not been moved out to my Trading Account.
Sunak should be concerned about
Private Investors. Successful ones can
afford to spend and are good for the economy.
Brokers should open their books and explain how
many investors lose. Investment Chat Boards need to be
supervised . Unsuitable participants are obvious and
should be warned. Oil and Gas, mining are for experts
and not for Grannies.
Your Broker will have already tossed them out of your ISA, many months ago.
If we get lucky, then you can apply to HMRC to have them reinstated. But it will only happen if HMRC deems them eligible. I've already written my sob story :-)
The outcome of the Summary judgement will be interesting & would think important.
Thanks Looed, will as always await your great updates to us all and of course , keep the faith this ain’t over yet for us share holders.
GLA
We know that the level of detail available to us from the Cayman Islands is meagre at best. Outside of disclosing the current status of the company we do not know how accurate or updated any ancillary information is.
The Cayman Registry entry for FRC-Cayman was last checked in Nov 2020 and an updated records check has now taken place. The company remains listed as “active” and FRC continues to be classified as an “exempt” company.
One oversight is that ZM remains listed as a director of FRC-C (the other directors are SN and LG). It’s your guess if this is a result of tardiness by the company in updating the Cayman public record or if it this reflects how long it takes for information to filter down to the public record.
Other than fighting Cayman-related court cases we don’t see any other activity in Cayman so I expect this admin issue isn’t something that will trouble the company too much, but they have been informed on this matter.
Other than this anomaly, the company is alive in both Texas and Cayman.
This website explains the corporate benefits of being classed as “exempt” in Cayman, though it doesn’t seem to do much for shareholder rights - https://www.harneys.com/media/j40bf0kn/c01_exempted_companies_in_the_cayman_islands.pdf
Some other events to look out for this month - the release of the Q4 ‘22 lobby report and FRC’s response to the Hope Motion for Summary Judgement in the Cali case.
Was he a magician ?
Broking is a business without responsibility.
ON-LINE Brokers have to keep their shareholders
happy and clients are treated like a nuisance.
I
I'm not in that league. During my investing lifetime everything has been tucked into ISAs.
Simplicity rules here.
Is there some renewed optimism here that we're asking about whether these can continue to stay under the ISA wrapper? If this comes to zero then it is better that it is outside the ISA to book the loss (and hopefully offset that by some winning stocks)
Well frazzler was a bit rude to Ma Pp. :)
I see the ghost of David Nixon has made a visit to the board again and made a number of posts disappear.
(Tabs is thinking "who the hell is David Nixon"?)
LMOA
HL has moved my shares into a trading account.
I have no access to my on-line account and lost
control. I made enough noise on the LSE Board
and hope to be taken seriously at last.
My investment was in an ISA.
Our Prime Minister is an Expert in Finance and
may be the best contact to understand our situation.
That’s really good to know.
Kipper. I agree with your comment in general however for those of us who were able to attend the meetings the NOMAD was present. If anything was said by the Company during the meeting was factually untrue then the NOMAD should/would have interfered. Not quite a golden bullet as a degree of over egging in marketing type level speak does tend to be allowed. An example is that Zaza made it clear as a statement of fact that a number of majors were very interested. under pressure from the floor he sated that a BP was looking under the bonnet. =There was no interference by the Nomad. After the meeting ( so outside the responcibilty of the Nomad and during the drinks session a few of those present spoke to zaza directly and gained a little more. when we all went to the pub afterwards we all took it to mean that BP were more than interested especially I seem to remember that BP had already been named on some technical issues. Its all a long time ago so I stand to be corrected on exact wording. Hope this just adds to your comments!
R8pilot many thanks
Thanks, that seems pretty clear to me, so presumably a recent statement fromm my existing broker showing an ISA holding will do?
Very useful, thanks again.
Bedex - I’ve spoken to HMRC a couple of times regarding my shares that have fallen out of the ISA envelope due to delisting ie Barclays moved them to a normal trading account. As far as they are concerned (to which I have written confirmation from HMRCs Specialist) that if you have proof that they were bought as an ISA then you will not have to pay CGT when / if they relist irrespective of what the broker thinks / has done.
Anyone using AJ Bell? If so do they still recognise FRR holdings in a ISA?
Hardly trading now, got a few DOCS and Time shares just need somewhere to park them until they make me a fortune. :))