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Hi all,
Hope you're very well.
So a decent set of numbers today and just wanted to share some bits in case you're unaware:
1. So watch out on the 5th June for a comms stating that Tui will be admitted to the MDAX - clearly important for us, as the MDAX represents a new set of investors, eg trackers; ii's who invest in the MDAX etc etc and as a new market, will undoubtedly be good for our SP
2. As some others have commented this morning, I was little surprised at Tui simply re-stating their delisting date and nothing else really - was expecting more detail for brokers to be honest, but looks like they have been liaising with the brokers 'behind the scenes' and as such, believe that relevant comms will come our way in the coming days - I'm also with HL, so expecting comms accordingly - that said, I do know that they trade all over the world and pretty much through their own platform and as such, think that HL will be likely to be one of the few possibly trading our shares in the UK right up to termination date on the 21st June 2024 - guess we'll see eh
3. The final thing for me today, is that for the 3rd set of results on the 'bounce', we've exceeded consensus forecasts - whilst I've only been an investor since last April 2023, looking back on their record vs forecasts, they've had a pretty dismal record and it looks like the BOD have learned their lesson and 'exceeding' at each results presentation, which of course has the benefit of getting a positive reputation with ii's; mm's and us mortals for delivering accordingly. It's undoubtedly why they didn't increase their end of year outlook and yet looking at the results to date, they are clearly ahead of where they need to be to deliver these - will be interesting to see any upgrades in outlook at Q3 results in August.
So all in all a positive day and hoping to see some positive analyst commentary accordingly
Finally and if posters don't mind - several posters have been very kind in publishing their brokers details ref the delisting etc and I'm especially interested in key dates for selling if aplicable - so many thanks to Halifax investors for sharing that they have until end of today to sell if they'd like or their shares will be 'locked' until transfer to Frankfurt occurs - I seem to remember a poster stating the 26th May for their broker to sell? Would you mind sharing if you have details and especially any selling dates - simply interested to know, as I'm sure others would be too and many thanks
GLA
AJ Bell is the 24th May. Plus they say we can keep in ISA which is contrary to HL. Which one is true?
The delisting from the London Stock Exchange (LSE) was approved at the meeting held on 13 February 2024, and is expected to become effective on 24 June 2024.
Your shares are currently held as Depositary Interests (DIs) in the UK Settlement System, CREST. The company has announced that following the delisting, there will not be a facility in place for the Depositary Interest holders to continue to hold their shares within the CREST system and trade on the Frankfurt Stock Exchange.
As a result, if you continue to hold your shares as of market close on 24 May 2024, your holding will be automatically converted into ordinary shares to be held with our International Custodian, Clearstream. These shares will be traded on the MDAX segment of the Frankfurt Stock Exchange. Please note, the process of trading shares held in Clearstream is via Telephone dealing and will incur a GBP25.00 dealing charge per trade.
If you wish to sell your shares in the market instead, you may do so until market close on 24 May 2024. If you choose to retain your DIs and have not sold them by 24 May 2024, we will automatically convert them into the ordinary shares to be held with our International Custodian, Clearstream. You will not incur any charge for the conversion of the DIs into the ordinary shares.
Please note, AJ Bell will place a block on trading of TUI AG shares on the London Stock Exchange with effect from market close 24 May 2024.
From 28 May 2024, we will initiate the process of withdrawing your TUI AG Depositary Interests out of CREST and converting them into TUI AG ordinary shares to be deposited with our International Custodian, Clearstream. This will allow you to continue trading in your TUI shares on the Frankfurt Stock Exchange.
Therefore, you will not be able to trade your shares in TUI AG from 24 May 2024.
Please note, this is a lengthy process and the registrar, Link Group, has advised that this could take up to 2 weeks to complete. Therefore, by commencing the conversion process on 28 May 2024, it allows sufficient time for us to process the transfer of any remaining shares to Clearstream before the delisting becomes effective.
Trading in the ordinary shares will commence once we have received confirmation that the shares have settled within the Clearstream system. Further updates will be released once this has been completed. The Tui shares will continue to be eligible to be held in an ISA or SIPP following the transfer to the Frankfurt Stock Exchange.
Therefore, prior to the LSE delisting taking effect, you have the following options:
- You may sell your shares prior to market close 24 May 2024.
- You may retain your shares in your account and have them automatically converted into ordinary shares held in Clearstream and traded on the Frankfurt Stock Exchange.
hi baxxy,
many thanks for sharing - if you wouldn't mind, please read my previous post back to *****galore ref the isa, although the ai 'bot' will undoubtedly put in ***** to the first part - don't you love em!!
for ref, it's not contrary to hl, it's simply that i believe *****galore has simply asked one q about delisting in totality and rather than quoting that the shares will be moving to frankfurt - hope that helps