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Your TUI AG shares
TUI AG shares will be delisted from the London Stock Exchange (LSE) on 24 June 2024. The company will maintain its listing on the Frankfurt Stock Exchange in Germany.
You have the choice to retain your shares in your HL account, or sell the shares before they’re delisted from the LSE before 4.30pm on Tuesday 11 June 2024.
**** If you take no action you will retain the shares with HL and any future trades will be subject to our overseas dealing charges.
As a result of the delisting there will be a period when the shares can't be held in the UK settlement system (Crest). If you still hold the shares at the end of Tuesday 11 June 2024 we’ll take the following action to enable you to retain the shares in your HL account:
To retain the shares we’ll need to first transfer them to our global custodian, HSBC. You will retain beneficial ownership of the shares and they will continue to show in your HL account, but as the custodian will be HSBC, or a sub-custodian of HSBC, there will be certain implications you should be aware of:
When the shares are moved from our Crest account to our HSBC account you will be unable to trade them. This will be a temporary freeze on trading until we are able to move the shares back into the UK settlement system (see below).
The shares will be held with our third-party custodian, HSBC, who may in turn hold the shares through a sub-custodian in the home country of the investment. The settlement, legal or regulatory requirements that apply to the shares may differ from those applicable in the UK. Your investment may not benefit from the same protections in the event of the insolvency of the third-party that may apply under UK law. A more detailed explanation of these additional risks is provided in section A25 of our Terms & Conditions.
Transfer of shares back into the UK settlement system
Between 27 June and 1 July we expect to be able to move the shares back from our HSBC account into Crest. We’ll contact you again once the transfer is complete and you’ll then be able to sell your shares on the Frankfurt Stock Exchange.
If you retain your shares you will therefore be unable to trade them from 12 June until the transfer is complete, expected to be from 1 July.
Trades on the Frankfurt Stock Exchange will be subject to our standard overseas dealing charges and terms.
Please note that following the LSE delisting the shares will continue to be eligible to be held in an ISA or SIPP.
Hi Mary,
Many thanks for sharing - was just about to do the same.
Guess it's interesting that we benefit from the later cut off, but we're out of the market for an extra week after the 'Go Live date' of 24th June - so bit swings and roundabouts ref those brokers that have an earlier cut off, but their clients can trade from the 24th vs ourselves who have a later cut off but need to wait until the 1st July to trade - certainly not an issue for me and hopefully not for others too and especially as I'm expecting a strong first week sitting in the MDAX from the 24th June 2024.
Finally and just a couple fo things if I may:
1. Just a thought ref the investor who shared that HSBC were pretty much telling them to sell up - well based on below, that appears nonsense and would suggest that they share below with their broker accordingly as it may put some pressure on them to deal with you appropriately and really hope so!
2. For anyone getting grief ref keeping it in an ISA, again, if you read right at the bottom, the clarity is clear and again sharing as needed may help
Thanks again and GLA
When I read this I was confused as HSBC advised me to transfer or sell, going to call them Monday, if no movement I need a broker to transfer them to, what brokers are allowingyou to still trade in TUI? I don't want to move all my other investment just TUI, so don't want to have to pay lots of month fees etc, as I only have a small holding in TUI. Thanks for any help.
Hi Duka,
Absolutely right to challenge them and hopefully they can do what they need to do - would suggest you read out or send the below comms we've had from HL to your broker.
If they still refuse to help, I can recommend HL as a good quality set up with what I regard as low charges, although there will undoubtedly be other brokers with lower costs.
Can I suggest that you simply put into the search bar - How do I transfer my share holding to Hargreaves Lansdown and then follow relevant links - will also cover costs too. Finally, if you have your share in an ISA, probably even better, as brokers seem to 'line up' for ISA transfers - again, HL would do this for you.
Finally, you will have 'missed the boat' with some brokers that have already frozen the UK shares ahead of the delisting and to date, these are Halifax; ii and A J Bell - if there are any others, would posters please share for Duka accordingly.
Hope this helps and guess my final thought if you can't influence HSBC and want to keep the shares for delisting, is that timing is getting a bit tight and so guess next week would be a great week to get things done and dusted accordingly.
Hi Duka,
Just been having a final think as to the best route for you.
Transferring can take a bit of time and again, if it's longer than 2.5-3 weeks for instance, you may just miss the boat, or because it's close to time, brokers may refuse a transfer - really important to get access to the right people who can help you make the right decisions etc.
So another thought and undoubtedly much simpler - on Tuesday when the market opens, simply sell your shares in the UK market and then when the money is back in your account - hopefully within 48 hours or so - either buy our shares again in the UK say through HL as you know that the cut off date is 11th June or directly in Frankfurt again through HL or another broker that trades Frankfurt - of course you'll pay some fees to do this and the SP will move around a little, but in the end, you'll have your shares sorted!
Must stress that clearly I'm only trying to provide some options for you - certainly not recommending and you may lose some monies dependent on how the SP moves whilst waiting for your monies back to reinvest.
Hope this helps and sure others may have some thoughts for you too - best of luck
Pretty shocking this delisting nonsense might lead to some feeling very pressurised to sell up and then re-buy, with huge risk of SP fluctuations between the two transactions... the there's the added costs of the currency conversions to trade TUI on the Frankfurt stock exchange atop. Now okay, I accept there might be some advantages for the stock having just one listing over the costs of dual listing previously but the decision overall seems net negative for UK investors, especially right now and in immediate future.
I'm relived I got out when I did. I had been pondering buying back in but I won't be now as there's other investment opportunities which look to have better prospects imo.
Savage ok good to know, then you won’t have any more interest of writing post here anymore. Glad to hear you got out, good for you. Take care and maybe we see you in other forums where you own stocks. Have a good one!
Hi SK,
Totally agree with your thoughts ref delisting and how some brokers have let their clients down.
Think with the rapid decrease in SP over the last 10 days or so that anyone with any doubts about the delisting etc and thinking of selling will have pretty much done so by now. As such, think that the delisting effect and selling will be very low in the final days running through to the weekend of the 21st/24th June - of course just my thinking and GLA
Shame you didn't buy back in at the lows, could have been an easy 10% gain in a short period of time! Not really any need to keep posting negative stuff on here any more now you're out then, is there?
TalkinboutWillis - No thank you... the instability TUI has added into the mix here with the delisting, plus lack of divi, addition of currency conversion charges and huge expansion in volume of shares available means for me I think there's better value to be found out there elsewhere on the market. I accept others may well be entirely happy with what's happening with TUI stock, it's just not for me right now.