The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register 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.
You too John...
broker
I was going to say, don't shoot me I'm just the messenger - have only posted the once on the subject and that was intended to be factual and helpful!
Have a good weekend
Apologies, wrong John..... sorry
For the record the legislation states:
"An AIM company is required to provide self-certification that its securities admitted to the recognised
growth market are not listed on a recognised stock exchange"
Now RMM is no longer listed on TSX [since Jan 2019] purchases since then should be exempt from stamp duty imv.
Anyone have the ear of a Board member? If so please let them know asap.
If incorrectly applied, refunds can be requested from the Birmingham Stamp Office.
Presumably incorrect duty charged would apply retrospectively.
Judging by the recent turnover refunds could be considerable.
On the face of it the BOD have not made the necessary self-certification.
@Johnpwh, at the end of the day its up to each and every individual if they decide to buy RMM stocks, if someone's not happy about paying stamp duty on this share then dont invest..... this has the makings of multi-bagger... so paying a little extra to potentially gain a lot more seems imo worth investing in, your posts are unlikely to deter people who see the potential or push the SP down below the last placement price of 0.30p... but for all DYOR and make up your own mind.. have a great weekend all..
I may have missed a few (or a lot) of posts here but on the face of it the stamp duty problem is due to being listed on TSX Venture (or TSXV) in addition to AIM, due to the following:
'The exemption will not be available in relation to securities which are also listed on a “recognised stock exchange”, a list of which is maintained by HMRC and includes many overseas stock exchanges such as the TSX and TSXV (Tiers 1 & 2). It is likely that most overseas companies on AIM will not benefit from this new exemption if they are dual listed.'
HOWEVER
There was an announcement via RNS on 7th January 2019 (available in the RNS tab above) stating that the TSXV listing was being lapsed as the vast majority of transactions took place on AIM. Its hard to believe that the company has overlooked the need to apply for exemption after 2 years but I do agree with the previous poster who suggested someone contacts Rambler. While only 1/2% it's still unnecessary expenditure for investors
PJOHN. Stamp duty is half of one percent or just a two hundredth of the purchase price. If this increases by 500%, it's well worth it
@PJohn... hi if you put in a dummy buy it should tell you...
That much, that will put loads of buyers off.
If I invest 10 grand what's the stamp duty on this investment?