Member Info for BradSmith

II must have acted while AIM:TLOU was still active either late 2024 or very early in 2024 (pre Jan 24th perhaps)?

IG were still procrastinating about charges due to Custodians or whatever.

Winni , £40 but there is scope for £30 to £50 which confuses me?

I did a Bed and ISA on SXX and it was £40 for the sell , and the buy back was free.

I am still waiting for a reply within 48 hours from IG regarding my question to them.

On the 6th I sent this ...

"Thank you for your email and for converting my AIM shares into their ASX equivalents.

You will know that at the end of 2024 , you were obliged to move our LSE shares out of our ISA accounts after TLOU ended their LSE membership. Please confirm you will restore our new ASX shares to our ISA accounts a.s.a.p..

Yours truly,"

Alan , from my Jan 24th email .....

"ISA regulations require that only ISA eligible stocks are held within an ISA account. To qualify as eligible, a share needs to trade on a HMRC recognized stock exchange. "

I have an ISA containing TOU shares that I bought years ago with AUD from other ASX dividends. So TOU is eligible without a doubt!

You email partially contradicts that. "Please note bed and ISA requests can only be made for UK stocks". Bed and ISA rules might preclude that method , but it I can see no reason why we cannot sell our ASX:TOU from the share dealing account, transfer the settled proceeds to our ISA, and buy into the ISA.

There are downsides galore to doing it.

1. Cost of selling my holding is over £50

2. Settlement date delay risks a much higher price for the buy back. Fewer shares.

3. Cost of buying will be significantly more than £50 I suspect

4. My £20k 2025/26 allowance will not be enough to do this in one sweep in either 2025 or 2026 tax years.

TLOU have wiped out the benefits of our ISA scheme in the UK. Years of building up ISA protection gone with zero benefits afaics.

I can hopefully restore my position , by selling a few thousand quids worth by April 5th , to buy back into my ISA this year. That will reduce my remaining shares to less than £20k for next year. But this little exercise has already cost me £78 for my X-O account shares , and several hundred quid more looks likely?

I am slightly envious of those who sold up , small fry, bythesea and olda , because we are being shafted yet again. I honestly don't believe Tony intended to but he has. I wonder how the UK sophisticated investors who raised millions overnight @ 3.5p per share ,once upon a time, have fared?

That destroyed the 5p+ share price and our 2 year options @ 4.4p

Is it worth my while going through this aggro to save capital gains tax?

At 30p per share TLOU will be worth a million quid to me , lots of cgt.

Is it worth losing a few hundred quid to save the tax for my heirs? Will they hold on for dividends one day. Will TLOU reach 30p? I might never know.

Received this Jan 24th , too late to do anything other than simply accept their actions. I assumed a temporary action until they completed the swap of LSE shares to the ASX platform as indicated in 2024.

The final sentence uses the word "proceeds" which imho means I'd have to sell some shares. I did not consider "proceeds" to include the issue of an ASX share to replace the AIM delisted shares. If I swap 2 x 50p's for a £1 coin at a bank it is neither a profit nor a loss - no "proceeds" for either party? Same as TLOU swapping ASX shares for AIM shares?

"Removal of Tlou Energy Limited from your ISA account

Dear Client,

We hope you’re well. We are writing to inform you about the recent delisting of a stock which you are holding on your ISA account.

What is a delisting?

A stock is delisted when it’s removed from a stock exchange. This can be voluntary, when the company chooses to do so for strategic or financial reasons, or involuntary, when the exchange forces the company to delist, usually resulting in the company becoming private.

What does this mean to you?

ISA regulations require that only ISA eligible stocks are held within an ISA account. To qualify as eligible, a share needs to trade on a HMRC recognized stock exchange. Due to the delisting, we are required to transfer your shares from your ISA to your share dealing account.

The consequence of this is that any proceeds arising from the delisted stock will be outside of the ISA tax wrapper. "

As for TLOU's faults , the glaring error is now becoming apparent!

Quite simply, TLOU never considered that we Brits would have our shares in a protected ISA account! My nominee shares in the share dealing have been dealt with as the RNS said - one for one shares at zero cost!

The ISA shares clearly had to be processed in 2024 whilst still tradeable.

I have had ASX shares in my ISA for years - so those ASX:TOU shares were unaffected. Who is to blame? Both TLOU and IG never foresaw the difficulties on ISA accounts - these should have been circumvented while both shares were tradeable - IG should definitely have been aware.

You'd think COLM would have been aware of ISAs, but he was educated in Galway , in the republic! and ....

"No, Ireland does not allow trade ISA accounts, as ISAs are not an Irish product. This means that ISAs are not tax efficient from an Irish perspective".

Trades ISA's are fairly new to us all - i think it is the answer to everything?

£3k plus previous losses. But they are getting more and more hazy with each dribble of news. IG are playing silly buggers imho. How can they simply write off ISA holdings that have taken years to build and plonk them into a share dealing account as if they never existed before?

Thornback, are you following IG's yellow brick road? It is time to contact TLOU to see if they are aware of developments at IG (and other brokers?).

Winni, Why? imho it is all down to Crypto! Trump backed several Crypto companies last week including Bitcoin. If TLOU are talking to one of them about a data centre or crypto mines it would be madness for the sake of a few months to stop.

Personally crypto frightens me off because, like all pyramid selling, the bubble is bound to burst one day. I am convinced, that if I get involved, I'll bring that date forward to a number of minutes, hours or days.

The appeal is how little TLOU need to go live. A gas supply and somewhere to house a new village - both we have in abundance. If the bubble bursts then redirecting the gas to electricity generation will be welcome if the infrastructure is geared up for it. Extra poles/wires one day are inevitable but hopefully a bigger budget will produce a much bigger network.

Colm, Hugh and Tony have put their money where their mouths were in the Autumn. Does that indicate they are concerned about things we are yet to hear of? I don't think so.

Just tried dummy buys on ISA and non-Isa accounts.

ASX is open and full range of limit bid options are available.

non -isa trades are a minimum of 10aud commission

And, happily, Isa trades do not have any commission other than fx margins if you use GBP to buy ASX Tlou shares.

10aud of shares extra per deal cannot be bad on ISA a/c

"It will be interesting to see if they take the option now because I cannot remember them doing it for TLOU. Unless the Govt was represented by the Pension Fund of course."

We seem to agree no direct input by GOVT , but was that because the Pension Fund had invested? If they now invest in Botala , why would they have done that?

Dare I suggest that the reason might be that TLOU have demonstrated that CBM power is credible whilst it was less so in the 2010 decade.

I don't know if UK shareholders have ceased or are apathetic.

Thanks for responding , Sono1 , a voice in the wilderness of other brokers.

Did anyone else wonder what the top 13 shareholders meant? Certainly not the 13 top holdings by numbers. Top few plus the directors who are on ASX perhaps? HL. allow ASX in an ISA , but nobody using HL cared to share their experience.

"Botswana currently holds a 15% stake in De Beers, estimated by analysts to be worth $2.5 billion. While the government has expressed interest in raising its stake, it has not disclosed the extent of its planned increase. De Beers plays a critical role in Botswana's economy."

That pre-dates Tou involvement , and the right still exists for Botala.

It will be interesting to see if they take the option now because I cannot remember them doing it for TLOU. Unless the Govt was represented by the Pension Fund of course.

In 2016, 31.5m of 237m shares issued was just over 15%. Pension Fund owns 208m currently from 1.26bn . Looking for that , this guy popped up ....

London, England, United Kingdom · Partner · Hunton & Williams LLP

I am a senior project finance lawyer focusing on infrastructure energy and resources projects in emerging markets.

He has 26.6m shares which looks like a vote of confidence to me?

Top 13 shareholders own 56.61% of the company

Ownership Name Shares Current Value Change % Portfolio % 27.5%

Ian Campbell 357,142,856 AU$4.3m 0% no data 16.1%

Pension Fund 208,521,092 AU$2.5m 0% 0.36% 5.39%

Anthony Gilby 70,000,000 AU$840.0k 0% no data 2.05%

Kirk Lovric 26,623,377 AU$319.5k 0% no data 1.39%

Hugh Swire 18,044,492 AU$216.5k 20.3% no data 1.08%

Nathan Mitchell 14,050,014 AU$168.6k 0% no data 1%

Kabila Investments Pty Ltd.12,953,399 AU$155.4k 0% no data 0.93%

Ian Collie 12,117,872 AU$145.4k 0% no data 0.62%

Colm Cloonan 8,000,000 AU$96.0k 0% no data 0.39%

Sares 2 Pty Ltd 5,000,000 AU$60.0k 0% no data 0.096%

Martin McIver 1,240,673 AU$14.9k 0% no data 0.081%

Solomon Rowland 1,046,429 AU$12.6k 0% no data 0.03%

Gabaake Gabaake 385,999 AU$4.6k 0% no data

Whoops, deleted this bit by mistake.

Once ASX is open you will have more options when trading. ASX is more constrained when closed so limit bids are not very appealing. Fill or kill , and sell only if price reaches your stated minimum are available once ASX opens, same as LSE trading. I only use fixed price quotes on LSE but frequent trader rate there is now the standard, i.e. commission is £3

Winni, fixed price quotes are not supported on ASX , and there is no frequent trader discount either. All trades are a minimum of 10 AUD (up to £5.50 depending on the fx rate) on Share Dealing accounts, but I discovered that buying on my ISA account was free of commission for a while. Now things have settled down - I'll need to wait for ASX to re-open to see if ISA commission is still waived.

My next action is to request that my ISA holdings for AIM shares are restored to my ISA. I sold my Jarvis shares and should have bought them in my IG ISA but idiotically I lumped them into my main holding on the Share Dealing account so not in my ISA and no longer transferrable. We live and learn.

Are you Man Friday or Robinson Crusoe? It feels like we are the only ones left here 😮 , we haven't even got Wilson the volleyball to chat with from Castaway. TLOU feels very remote nowadays , I wonder if they will suffer from ditching us Brits - it feels like us and them to me.

The full story ....... London shamed perhaps? Six words from AU was enough 😜

======================================

corporate.actions@ig.com

17:17 (59 minutes ago)

to me

Dear Client,

Thank you for your email, and we apologize for the delay and any inconvenience it may have caused.

We are pleased to inform you that the London Line has now been successfully transitioned to the ASX Line. We are planning to move the positions by tomorrow.

We appreciate your patience and understanding during this process.

Regards

Corporate Actions

IG

=========================================================

From: helpdesk.au@ig.com

Sent: 05 March 2025 04:57

To: CorpActions@ig.com

Subject: Fwd: TLOU Energy (ASX:TOU was AIM:TLOU) Me

[EXTERNAL] This message originated outside of IG.

Hi team, 103401352, please assist.

thanks

From: me

Sent: Wednesday, March 5, 2025 7:01 AM

To: helpdesk.au@ig.com,me

Subject: TLOU Energy (ASX:TOU was AIM:TLOU) Me

[EXTERNAL] This message originated outside of IG.

======================================================

My mail to OZ .........

Hello guys,

I have 2 accounts with IG in the UK and until recently had TLOU/TOU shares in both my Share Dealing account and my ISA. I hold ASX shares in each account , plus AIM:TLOU shares which have been in limbo since TLOU axed their dealings with LSE in 2024 whilst promising us a 1 for 1 swap of AIM shares for ASX shares, with any dealing costs payable by TLOU Energy.

Sounded simple? It is now March and IG are offering us no positive news of these swaps. London IG Office has twaddled on about Custodian problems without clarifying what these are.

Year ago I had problems when TLOU issued options at a bargain price of 8c (AUD) or 4.4p (GBP) for 2 years. I was told my ASX shares entitlements were being handled by your Sydney office, and AIM by London. The two offices were inconsistent but it became immaterial when the price fell from 5p+ to 3.5p and then Covid dropped the price even lower for the whole 2 years+.

Sydney were more helpful than London at that time, so I am hoping you can clarify why IG London say that their Custodians are acquiring paper certificates of our AIM holdings in order to allow their ASX equivalents to be issued?

I learned this week that II (UK) have swapped AIM to ASX some time ago which casts doubt on IG's handling of this.

I worry that nothing gets beyond the London help-desk because three months in financial circles, where minutes can make a huge difference, is appalling!!

I don't know if Australians are allowed to own AIM shares but if they can - perhaps you have swapped their AIM shares to the ASX version?

Please clarify why this is dragging on, if you can.

I am reluctant to give account numbers via email so my address is ****** , my UK postcode. I hope that will enable you to identify my accounts if they help you.

Yours faithfully,

Me

Got a replay from IG which looks promising!

"corporate.actions@ig.com

17:17 (52 minutes ago)

to me

Dear Client,

Thank you for your email, and we apologize for the delay and any inconvenience it may have caused.

We are pleased to inform you that the London Line has now been successfully transitioned to the ASX Line. We are planning to move the positions by tomorrow.

We appreciate your patience and understanding during this process.

Regards

Corporate Actions

IG

"

I have just emailed Australia office of IG - they have them in Melbourne and Sydney - so I'll wait and see if they can clarify wtf is going on.

TB have you asked TLOU if they are aware that IG, at least, are taking so long.

HL allow ASX holdings I believe, has any of their customers on here received their ASX shares yet? i.e. is IG the only ASX broker being held up?

It is surely down to the woke/stupid/whatever policies talked up by Govts?

Are electric cars going to be phased in as announced by both Govts over the last decade?

Is HS2 ever going to get near the goal we have billions on not achieving?

Are fossil fuels in or out of favour?

How can anyone decide to plump for investing huge amounts into those sectors? It can all change at any time!

Defence is the new dependable and my Rolls Royce freebies from Barclays (I think) are doing extremely well. Not as well as Commonealth Bank of Australia that were freebies from Colonial Mutual Life though. If I'd kept my money in those two in my online portfolio instead of moving it into AVN,HMV,SXX,USOP and TLOU and watching it evaporate, I be laughing now. You could say that being hysterical is laughing even louder but it does not feel like it.

Like I said yesterday ASX could go to say £1 , I'd be a cash millionaire on paper , but that paper is worth SFA because I am unable to get at my shares and they could be worthless by the time this is sorted.

I am so sorry I recommended IG to this board - it sounds , from the II experience like IG are useless or are feathering their nest in some way. Are they screwing TLOU for charges , or us? I think I'll see if I can dig out the Sydney office email because they seemed more on the ball when I had difficulties participating in a share offer years ago and I did not understand what was going on. I has nominee shares and ISA's in both GBP and AUD and my entitlement on the options was so mysterious you could not make it up.

It all panned out in the end but then Covid destroyed any hope of the price rising above 5p when the options (for 2 years) were at 4.4p

The process dropped the price from 5p+ to 3.5p , and Covid then reduced it to less than 2p with World Attitudes to fossil fuels not helping.

What an interesting guy - talks very freely and echoes the TLOU experience.

Tlou simply must be the best value they have ever been NOW , yet the SP is at an all time low! If they abandoned Lesedi CBM completely surely the current infrastructure of 100km poles and wires , and so many acres of flattish land for housing solar panels is worth more than any evaluation in the past? And CBM 24/7 is surely going to happen anyway? Unless Trump revives the Crypto market even further and they take every sniff of gas we can produce for Crypto mining?

The talk of fossil fuels being barred in this decade looks to be biting the dust. The guys thoughts on Market Makers probably result from there - bullish views on oil and gas from Trump could reverse that soon.

1more , are you able to trade those ASX shares? i.e. offer them for sale

I have a strong suspicion that IG are having internal problems.

II may be dealing with LSE and ASX from the same office - so they know exactly how many AIM shares each shareholder owns without the need of certificates to prove it?

IG , from personal experience , deal with LSE from their London office , and ASX from their Sydney office. It seems incredible they cannot follow II's example but is Sydney insisting on seeing certificates because they cannot verify holdings on Crest anymore?

Maybe II saw that coming and verified AIM holdings before Jan 1st? Or maybe even did the transfer if that was possible because I don't know how the ASX shares are created. The presence of a certificate is worth SFA if they can be printed from a shareholders computer count? And surely they can?

I wonder if Tlou even know there is problem? They should because the market value of the company must be too low with our LSE shares unlisted on the ASX books. To quote 1.26Bn shares Tlou are misleading everyone. I have millions of LSE shares in no man's land between London and Sydney and I don't know whether it is IG or Tlou's fault!!

How would UK shareholders feel if TLOU had gone ahead ahead as you are discussing? Now imagine the SP going to record levels so all ASX shareholders could sell up for a fat profit! Taking their profits could easily drop the prices back to current levels! And we AIMS holders will have been in limbo throughout the carnage.

The priority should be to issue our ASX shares after 2 full calendar months of NOTHING!!!! I think all TLOU shares should have been suspended until TLOU complete the AIM to ASX transition but that would be unfair to ASX holders who suffer financial difficulties by being locked in.

A static market is good news for long term holders as long as we get ASX shares soon. Good news from TLOU could create that strong price rise ..... so silence may be golden? It makes sense to me - but why is the ASX issue taking so long ???? Once that is complete it can be all systems go - there is 10 months left in 2025!

I am in the same boat Scott. Thornback has been badgering the office on our behalf and the only good news seems to be that there is nothing for us to do until the story unravels. Custodians require certificates for our TLOU AIM holdings to enable their replacement with ASX equivalents. How many Custodians are involved I don't know but between 1 and 3 seems possible? IG originally said they were investigating charges between them and whether we were responsible for paying them. Since then the water has not cleared and is possibly murkier.

Hopefully it will not be proportional to the number of shares and will be a token amount. Where does that leave TLOU who appeared to be responsible for any charges from the start. 1 for 1 on shares irrespective of values plus ZERO costs was my understanding.

And then we need our ASX shares to be sorted out!!

Patience