ISA Reinstatement.5 Dec 2022 15:29
I've just called AJ Bell Youinvest who tell me although they told me my shares had to go into the Dealing account last year they cannow be transferred back but because it isn't "flexible" the ISA allowance on that share I've lost so if I did transfer back I'd have to use this years allowance so in essence have lost it. Also it will cost £ 9.95 to transfer and a max ceiling of £ 50 incurred between the bid and offer prices.
So in essence UK Spac have currently lost me 50% of the value of the share, my ISA allowance relevant to that share for last year and this year and also dealing charges and bid/offer costs to get it back where it was.
I believe just before it's relaunch Peter Jay advised us that all their efforts have been rewarded and exciting time lie ahead. Currently, it's resulted in huge losses rather than rewards for the shareholders, I guess he was talking about himself and his colleagues when he talks about rewards at the cost of the shareholders Also he may feel a huge loss is exciting but I beg to differ !!! Obviously, if things change in the medium terms that will alter this stance, but currently I believe one holder on this forum talked about "highway robbers". Interesting !!