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Hi everyone, I’m a long term holder and have all my shares in Hargreaves Lansdown. Just seen the news. Hands up I’m a complete a mature, and offer no opinion at all. Could anybody please tell me what will happen to my shares if I do nothing? Is this advisable? Tbh I’ve no idea what to do! Thanks I’m advance
If shares are in ISA then HL will transfer to trading account on delisting on AIM. From there you can transfer to another platform that can deal with ASX shares, such as ig or ii at your leisure.( no time limit). If you want to preserve your ISA wrapping then open an ISA account with a platform that can trade ASX listed shares such as ig or ii. Then follow procedures to transfer in specie from ISA to ISA. The two platinum will do the transfer for you. I have just opened an ISA account with ii and they have been good with regards to customer service and walk you through the whole process. No charges are involved in the transfers from either platforms. Also ii have an offer atm where recommends are rewarded. £200 for the recommender and free platform fee for year to recommended. If you want me to recommend you let me know.
AJ Bell have given some information. See below.
Q. Is £10000 the minimum trade?
As you already hold the shares in Metal Tiger that are due to move to the ASX, the £10, 000 minimum would not apply in this instance. If you were looking to purchase additional shares after they list on the ASX then that would require a minimum purchase of at least £10,000.
Q. What if I want to then sell out?
You can only trade on the ASX with us over the phone by calling 0345 54 32 600 (Option 1) and there would be a dealing charge of £29.95 per trade, with a tiered foreign exchange charge starting at 0.75%. With the Metal Tiger delisting you will receive a further corporate action when we have any additional information regarding the proposed changes.
Has anyone on here bought MTR on the ASX?
Interactive Investors (ii) trade ASX stocks, but I can't find MTR listed only on the LSE. Cobre LSE and ASX, Sandfire ASX and Toronto, MTR only LSE listing, seems odd and slightly concerning.
I'll contact ii Monday for some clarification, but from MM's proactive interview, I don't think they gave a single thought as to what would happen to UK invesors share holdings. In the interview he states shares will be converted to CDIs but two brokers that I know of, will not be doing this and will sell your holding.
Strata investment holding was incorporated on 12th Jan, so some people had plenty of notice to get their holdings sorted. Yet the company are hoping to release info for the rest of use soon, after the nomad approves it.
I'm having difficulty speaking to HL with regard to what to do re the MTR shares. Is doing nothing an option? All the shares are in either ISA s or a SIPP draw down account. Anyone help with any info?
When I spoke to HL their advice was to transfer or to transfer as a certificate as they cant trade on asx. Transferred both of my isas to IG, who said the process would take 15 days.
I transferred my ISA, SIPP and Trading Account from HL to II and the total process took eight days, very impressed by both organisations.
I've eventually got through to HL and was told they are waiting for info from MTR so that they can present alternative courses of action to their clients. I am reluctant to sell up at this price but might have to. I'll wait to see what HL come up with.
I spoke with HL today. They told me a letter will be going out tomorrow detailing what you can and cant do. He expects it to include a way to trade MTR going forward through HSBC. 'More expensive' also.
Finally had a reply from ii, they will be transferring MTR shares to the ASX, when their primary LSE listing is canceled.
Anyone STILL holding !! MTR shares and it's with HL should transfer pdq !!
Otherwise they will transfer them to a holding a/c with HSBC @ close on 27Mar.
You can continue to hold... but unable to buy more.
When wishing to sell you will be charged the following....
The following three charges will be applied to a sale:
Our telephone commission of 1% of the consideration, subject to a minimum of £20 and a maximum of £50.
Our overseas counterparty will charge commission of 0.35% of the overall deal, subject to a minimum of AUD200.00, which is currently approximately £110.
HSBC will also charge a transaction fee of £15 per sale.
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Blimey... methinks most peeps would agree their taking the pish somewhat !!!
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Hurry up and transfer to a more amenable broker would seem good advice !!!
But, in the words of the Dragons......
I'm out !
GLA
Ta-ra
So, who have people transferred to?
ii pal they trade and it’s no biggie
Nice to know the board didn't take delisting lightly, just had this from ii.
ISA Customers
Due to HMRC restrictions on ISA accounts, Metal Tiger CDIs are not considered an ISA-qualifying investment. Therefore,
on or after 1st May 2023 (30 calendar days following the delisting) we will arrange to move your shares to a linked
Trading Account, opening one on your behalf if you do not already have one.
Worth checking they have that correct as the asx is noted as a recognised stock exchange on gov.uk for tax purposes.