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I got reply yesterday saying next week. Cheers
Barclays said the pigeons it uses to transport share certificates have all gone down with bird flu and they are waiting for replacement batch of pigeons before they can apply shares to nominee accounts..
Nothing in IG yet either, have chased them.
BOL
Nothing in my HL account re trading yet apart from the number of shares I was allocated (which have been there for 9 months) and a "cost" figure but no ability to trade.
Poolbeg still not available on my HL account. Has any HL holder got them yet ?
I agree with Thompi that HL holders appear more disadvantaged than those on other platforms. Size is clearly not everything!
To turn this delay into a positive, as the price keeps dropping, at least when I do get them It will be using less of my ISA allowance to transfer them from my normal account to join the ones already in the ISA. Both the ones bought and the "free" ones. All in a nice little bundle waiting in the bottom drawer.
So that's good. lol :)
Time for a broker change.
HL confirmed they now have the certificates which they have sent to the registrar to be converted into electronic form. Because they are a large broker with more holders it may be the reason why it is taking so long. It may be tomorrow they go live, but there again maybe not..
More importantly for me was the very weak explanation as to why HL did not pass on the corporate action. Basically their default was to receive the new distribution of stock. This is a direct quote from from the conversation “we were only able to chose the default. We didn’t have the option to give a secondary option in cases like this so we just went with the default option for our clients.” The fact that only 3% of stock was converted to cash suggested “perhaps we weren’t the only broker that was unable to facilitate the corporate action”. Well they bl**dy should have been able to facilitate it, Barclays, Halifax, HSBC, Interactive Investors, & Fidelity were all among the brokers that were able to.
The reason I have pursued it with HL is that I don’t want to be excluded from any future potential corporate actions in relation to ORPH and the spin outs. I have been with HL for a long time but time to review my situation.
I very much hope we don’t go down a similar route with the other spin offs, because regardless of HL’s inadequacies, it has been a very cumbersome process. Anyhow the sun is shining time for a large G&T!
and after the rocket up their rear that should swiftly be followed by a class action law suit Thompi.
An apology from Cathal wouldn't go amiss, either.
Just another rant while I'm on one - why spin anything off on AIM off anyway ! NASDAQ perhaps but I'd keep the assets in Orph - then we all gain, it's not rocket science !
Thompi - I 100% agree with you - 'unfair advantage' why should one investor receive their shares at say 5p and other including me 4.5p over the coming days - complain going in !
I hope we can all do this again soon at the spin-off, it would be great to see another complete shambles ...
Trout, I agree my broker was **** in not passing on the corporate action, and I am considering moving.
You may be right - “ I can't see Croft not sending out all the certs at the same time, too many listening to the excuses of their Brokers.” Your comment has spurred me onto to have another go at HL, they are looking into it and will call me back.
Hopefully all parties will receive their shares soon and will be in a position to sell, hold, etc as they see fit. In the meantime it is not an ideal situation.
Thompi, we were all given the chance to trade our shares (by that you mean sell them) in the offer. This was RNSed and we all talked about it here, if your broker was so **** it didn't give you the chance then get a better one.
We all knew and posted that these situations often mean different accounts with different Brokers will get their shares first, I can't see Croft not sending out all the certs at the same time, too many listening to the excuses of their Brokers.
If Croft are to blame I assume CF would have the balls to phone them up and give the a P45 in advance of any other work...
It seems really bad market practice for the POLB shares not to have been released uniformly all at the same time. Surely it gives some investors an advantage over others who are unable to trade their shares. It’s mired in incompetence.
If Croft are to blame they need a rocket up the ar*e from POLB.
Still no shares tradeable in Barclays. From my experience of Barclay Stockbrokers over the past few years and especially with this whole Poolbeg issue, all I can say is their communication on anything that is providing a service to me is zero. I am having to constantly chase them for information, they don't phone back when they say they will, they don't seem to know as much about what is going on with investments as much as their customers, but when it comes to taking monthly fees they will send out as many communications as possible to justify the portfolio charges. Shocking customer service. If I were to rate them on a score of 1 to 10 well they would score 1 every time. I'll be looking for another broker soon unless their is a 100% improvement in their service provision. If they had an E-bay rating system I think it would be at 1% from my experience anyway. AIMHO so ADYOR!!!!!!!!!!!
It appears to be Croft's fault. They are presumably dematerialising each holding broker by broker with HL clients last.
Look on the bright side, if the Polb 001 reaches it milestones later in the year a severe upward correction could take place, I won't be selling at these prices and if those lazy no good home working shirkers get of their ars#es at Barclays stockbrokers I might get my shares eventually......all I could hear yesterday in my phone call to barclays was dogs barking and children crying in the background..Adyor!!!
Immoral and criminal seems a bit strong! But I get it's galling.
Can we assume yet another broker has released the shares this morning?!
This is surely immoral and criminal that HL, one of the largest platforms in the UK, hasn’t issued their shares yet?!
How can others have theirs, trade theirs whilst we are made to watch fall after fall.
Everyone involved in this spin off should hang their heads in shame!
As of OO hasn’t been a disaster, we’ve been shafted on this one too!