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Reading the documents; shares should be credited 14 days after today. It appears PI's shares will be worth 29.85% of the value when de-listed. This is due to dealings when under suspension via Rovello who own 65% of old Matra. Therefore, expect 0.3p equivalent per share. Any thoughts?
Looks like your Crest account will be credited round about the 17/2 with Matra new shares in CDI form , then expect them to be transformed into NewCO shares and listed on the Swedish Exchange. more news to come re live dates and listing price.
it all depends on your broker you need to talk to someone in the settlements department as likely the help desk wont know. Most brokers will hold their overseas stocks via a local custodian i.e Bank/Foreign Broker and in doing so will receive custodian charges which in turn will be passed to yourself if holding international stocks. plus dealings in Intl stocks are normally a tad more expensive. Your Matra /Newco shares will be credited to your Halifax account in whatever form they issue i.e CDI or pure Swedish equity. I am sure if sold you /your broker would receive proceeds in Swedish Krona and they will of course convert for you at whatever rate and no doubt plus a charge for doing so. I would guess at something like a total £50 quid charge to sell the shares and switch your krona to sterling. Each broker will have a similar process. If Halifax does not have a international custodian I would be very surprised but no doubt would have access to someone that does. Hope helps
Morning all , so I have a questions , I phoned Halifax and talked to lovely operator, but she couldn't answer my questions. So i thought I try here. I wanted to know if I couldn't find a broker I liked and a Divi was paid ( i know wishful thinking ) would Halifax take receipt of that divi for me and charge me a commission rate to change k to £ . Or would it sit waiting for me to apply to another broker? The other was, is there a time limit to transfer my new Swedish shares to a new broker. ?
This is very good news i will hold mine to hopefully see the price rise..
i have 162363 Matra share, i do not known after consolidation how much New matra share will be? is it worth to keep the new share until take over !!!
Good morning all, see what you think to the round about to no where. I have 250,000 Matra shares @ approx 1p when suspended, value £2,500. I will receive 1,250,000 New Matra shares, after consolidation at 1,000/1 When this returns to the market I should have 1,250 New M s. So this needs to open on the Swedish stock exchange at 22.40 Krona equal to £2. If so my 1,250 shares will be worth £2,500. Oh look the circle, merry go round is complete. So Good Luck all LTH, any thing above 25 Kronas will be a good start. I need 90 Kronas to break even, Happy new Year to all. ACrap.
Dave 73. Newbie shoving his nose in.. I have used Beaufort Investments for some time without problems at a charge of £8 a trade.
Well I hope they re-list at least what they de-listed at as you say the Company has moved on and would like to think an Ops update will be announced with the listing price and further details re settlement/trading facilties. Price will obviously be decided close to launch as the oil price will play a part along with operational activities. The last Company he floated on the Swedish stock exchange got taken over , I believe this is the plan again in due course , my opinion only !! Check it out West Siberian Resouces. Fees for trading or just selling/buying via your broker will be higher than normal as cross border transactions are more expensive. I have been quoted £40 plus normal trade cost via TDW. Need to confirm this once we know more about stock status i.e. CDI's in Crest.
Hi Crude, nice to see you on this board too. I have 65,000 shares here and would be happy to get my money back to put on SOU !!
I'm quite interested in this from a market nerd point of view, to see what price the market now gives .So total no. Of shares to be issued on floatation as i read it is 36,687,702.857 after the 1000 to 1 consolation .I'm not sure if the market will value the company on its last AIM price . A lot has changed with the company. I would like to know if the market would revalue the company before listing . ? If so basic valuation, very basic valuation I believe we would need a worth around 80million . 80mill devided by the 36mill something gives £2 pound something to times my half a share example by. ? Any thoughts if I'm reading the situation right for a perfect re list.? ( can't wait for the buy my shares presentation to the Stockholm market , like to know what they have in the pipeline)
Dave, that is just what I had been thinking; what is the point of re-listing unless there is something tangible happening that the market can react to. My MTA shares are in Barclays & so I guess I will have to gain access to their international trading - Market Master doesn't allow for that. I only have 40,000 shares so no big deal but will be interesting to see if I can at least get my money back......... maybe even make a profit or even hold for some action!
I had some Matra shares in my iii trading account when they were delisted, is there anything I need to do when / if they commence trading in sweden or will it be done automatically? thanks in advance
Correct , in theory share price should be 200x hopefully re-listed somewhere near the £2 mark which I believe was the de-list price prior consolidation. Depending what the market feels about this relisting depends which way we go. Most companies drop after consolidation unless they have something good going on...do NewCo ? time will tell.As I said before what is the point of re-listing if nothing to offer ? Good luck all holders we have been waiting a long time to get at our money...whatever amount it is.
So , we are getting 5 new shares for 1 old share , but then before the list begins and the revololthingymegig completes , are new increased no. Of shares decrease, due to consolidation by the action of 1000 new shares equal 1 new share to be gym fit for the Stockholm market. Therefore for argument sake I have 100 old shares I now get 500 new shares , but before the listing my 500 shares becomes half a share , rounded up if I'm lucky. Is that right ?
Thanks Dave73, I will try TDW.
My broker has said i will have 5x as many shares when the scheme of arrangment is sorted....
Try TDW until we know if definitely CDI instrument not exactly sure on cost of trading them cross border but believe it to be £40 per trade , telephone orders only.
It would be great to get a good price straight off. The company in my opinion is a lot different in a good way it seems to when it delisted it self on AIM. Has anyone found a good share trader to use as I'm having to move them out of my Halifax trade acc.
Happy New year to all , good rise in oil price will help this when re-listed , who knows what price it will be , think it delisted at about 1p so hoping it will be better than this , needs to be about £2 equivalent in krona after consolidation I think
Happy new year all. Any idea on the refloat value ? Or Is anybody invested in similar companies to get an idea of possible price given the rise in interest in commodities. And cut in oil production..?
I hold these with Halifax notification tells me that I have to find another broker Can anyone advise of brokers dealing with swedish shares ? Thanks
Shares currently in your account with whatever broker will be transformed automatically by Crest into new CDI holdings . You should be able to just put an order in to buy and sell and your broker should have the mechanism to settle the business cross border via the CDI workings that Crest have via links to the Swedish SE. Apart from voting I dont think you have to do anything , of course your holding will be in the broker nominee so you will have to instruct them to vote on your behalf if you wish. 5: 1 Increase in your shareholding then proposed consolidation of 1000:1 as mentioned earlier. We dont know the listing price or more importantly where the share price will go after listing.I only see this as a good sign that the Company is in good shape otherwise what is the point?
Hello Stan, that is correct. We do not yet know what the re-list price will be. However the alternative = zero liquidity = worthless shares. Given MB's history I am very confident though. You can contact Mangold directly in Stockholm, they are very helpful. I don't know for sure but I think our shares will automatically be converted to New Matra shares.
November - I must have misunderstood, so we are being asked to make an informed decision without any idea of the resisting price? Does anyone know the mechanism by which existing shares will covert to the new company shares in your share account? Do we need to instruct anyone to do this on our behalf? - this is aside from trading them on a foreign exchange which I have already enquired about.