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to H&L asking for more information and an update on when I can trade the shares showing in my fund and share account.
All of these messages should not have been required, if they'd just put something in the fund and share account, even if it was 1 share, with a corporate actions note explaining the process/progress, instead of just a line with my share allocation, then nil value, and zero informational text... poor
Another message to HL:
CGH/CGO
Why have my last two messages been ignored?
I have sent two messages, recently that have remained unanswered!
I made one telephone enquiry yesterday, and was told “we will get back to you via secure messages “ I’m still waiting!
HL’s handling of this CGH/CGO “in specie dividends” has been a shambles! Shareholders due this dividend have had to chase HL every step of the way, to get our rightful shares. Even when they have been allocated to our accounts, we are unable to trade them! With a tag against the stock, in our shares and funds account stating “ unable to trade as this company is unlisted” which is nonsense, as CGO are available to trade on HL’s website!
Why put that tag on?
Hopefully someone might give me the courtesy of a reply, and explain this situation!
Regards.
yeah no reply to my message either, I am tempted to call them and ask if they wish to retain my business, becasue if they do, then they better start communicating, this modern culture of "we'll do it via message or email" is total bulls hit, you speak to people or you lose the business.
Unbelievable.
Still tagged “This stock does not currently have a stock market listing” what a shower.
Come on HL, get your act together.
same for me :(
at least you guys at HL have the allocation against your account
at ii we're not seeing anything yet
Seeing nothing in my Lloyds account yet, emailed them on Friday but no reply :(
messaged them again at hL
reply
Thanks for your query.
The Contango shares you hold in your HL Fund & Share account were issued as a share certificate. We are now actively chasing Contango's registrar to receive these certificates. You do not need to take any action. You will not receive your holding in Contango in the form of a share certificate, once HL's holding in Contango has been confirmed we will reflect the holding in your account.
Communications regarding this haven't been issued out just yet in advance of a demerger taking place. The Contango shares issued here are different than the ordinary shares you hold in your HL Stocks & Shares ISA which is why you wouldn't be able to deal with these. However we will be writing out soon to clients involved about the next step and how we will be proceeding with these shares. I apologise we don't have further updates as of right now.
I hope this has been of assistance. If you have any other questions, please get back to me.
I had a similar message back from Barclays on Friday, Communications regarding this haven't been issued out just yet in advance of a demerger taking place, we will advise you when this happens and the options you have
MB,
HL’s messages seem to be all over the place, here’s their message to you on 6th July:
Thank you for your enquiry about your holding of Consolidated Growth Holdings Ltd.
Consolidated Growth Holdings Ltd plans to distribute its entire share interest in Contango Holdings Plc to shareholders. Shareholders are due to receive 0.072 of a Contango Holdings Plc share for every 1 Consolidated Growth Holdings Ltd share held.
Consolidated Growth Holdings Ltd contacted us on 10 June 2022 to say that share certificates in Contango were due to be issued in the next few weeks. We are now actively chasing Contango's registrar to receive these certificates. You do not need to take any action. You will not receive your holding in Contango in the form of a share certificate, once HL's holding in Contango has been confirmed we will reflect the holding in your account.
8th August:
Thanks for your query.
The Contango shares you hold in your HL Fund & Share account were issued as a share certificate. We are now actively chasing Contango's registrar to receive these certificates. You do not need to take any action. You will not receive your holding in Contango in the form of a share certificate, once HL's holding in Contango has been confirmed we will reflect the holding in your account.
That’s two months (10th June - 8th August) of so called chasing the registrars, I think these guys have been asleep at the wheel, as I mentioned before, surely all they needed to do was collate their CGH shareholders, and forward the figures to the registrars.
Surely CGH don’t know the individual shareholders in nominee accounts!!
RG, lost for words , HL are too sadly
Here’s another example of HL’s waffling by client services received 30th June ( poor lass wasn’t even aware that CGH were delisted):
RE: CGH to CONTANGO SHARES AT 0.07230 Jun '22
Dear Mr ****
Thank you for your messages regarding Consolidated Growth Holdings Limited, I apologise for the delay in our response.
I can confirm we have not recieved any official announcements from the company or through CREST in regards to a special dividend to be paid to shareholders. HL would always recieve official announcements from RNS in relation to any dividends or corporate actions affecting a particular share which would also be announced through CREST, in this instance we have not recieved any information. In the instance there is a special dividend announced we would write to shareholders to inform them of the distribution.
I hope this has been of assistance to you. If you have any further queries, please view our Help and Support centre or contact us on 0117 900 9000.
Kind regards
Suzanne Butler
Corporate Actions Assistant
what an absolute fu cking shambles.
laying the foundations for fu cking us over AGAIN, i'm beginning to form the opinion that the registrars are just as dodgy as groves and his cronies, and if... and thats a very BIG if, we get anything, i'm selling immediately, and taking the money out of the account so it can't be recovered
I know this is starting to sound a bit boring now, but I can’t stand people or companies NOT doing their jobs properly. So here’s another message to HL, sent this morning:
Good morning,
It’s now approaching another full working week, since I asked for a response to my previous secure messages and one telephone conversation. And what have I got? Absolutely nothing, what a poor way to treat your clients!!
So, if I don’t receive any response from this message, by close of business today, I will lodge a formal complaint.
So over to you guys.
Regards.
Well done RG, Sadly it's now the British way of doing things , blame COVID , work from home and fcuk too you
I have just spoken again to Barclays, they have confirmed they have received the certificates on the 9th August for the CGO shares, they have advised me it will take upto 2 weeks to transfer from the certificate to electronic format to enable me to trade CGO. I asked why does it take 2 weeks they said unfortunately it can take take long with this type of transfer. The good news is they have my allocation.
I thought my suggestion of “making a formal complaint “ might get a response:
I sincerely apologise for the delay in our reponse to your queries regarding Contango Holdings plc, thank you for your patience.
I can confirm Hargreaves Lansdown recieved the stock dividend from Consolidated Growth Holdings Ltd in share certificates. We have applied the shares to your account as you are aware on 2 August 2022.
In order for you to be able to trade these shares we need to first dematerialise these shares into CREST the UK settlement system. I can confirm we have requested this with CREST and we are currently waiting for the shares to settle. Once the shares have settled we shall update your account to reflect a tradable line of shares in Contango Holdings plc.
I hope this has been of assistance to you. If you have any further queries, please view our Help and Support centre or contact us on 0117 900 9000.
Kind regards
Suzanne Butler
Corporate Actions Assistant
Had a message back from HL and they said I should be able to sell within 3-5 days once they have settled and tomorrow will be day 3. I’ll believe it when I see it tho especially if you’ve been told two weeks.
Hi JT, It's all right for you! I'm assuming you have a share certificate. Those of us with nominee account holdings are still waiting for a value to appear (HL have added a number of shares but no value, ii haven't done diddly). Best of luck with it and please let us know what happens.
Update for anyone using II, i logged into my account couple of min ago and I'm seeing the Contango shares available in my trading account (along with the original delisted CGH shares); it appears as though I can now trade the Contango shares. I've just initiated a Bed & ISA, will see if it actually goes through and update the forum.
Thanks for the confirmation Paladin. I have just checked my ii account and my CGO shares are now available to trade. I did a dummy sell and got a firm price. At long last it has finally happened. BTW I am holding CGO and probably add to the position .ATB
Not on HL yet
Just to let you guys know my shares became active today and I’ve managed to sell. It looks like the people with share certificates can get theirs sorted quicker as we are not waiting for the broker to sort it out. It just shows how crappy most of these brokers are. There ok when there’s no problem but throw a tiny issue in the way and they let us down. That’s my experience with them anyway.
Hope you guys get sorted soon as it’s been a very very long wait but at least we have something to show I suppose.
ii settled today electronically into nominee accounts. HL seem to take an age. Keeping mine Q4 is going to be good for CGO