RE: Tabys11 May 2023 17:42
This was a good post by Onbeyondzebra , so formatted it for better reading
Poly has been pretty clear that there will only be digital shares in issue.
The paper (Crest?) certs must be transferred into digital AIX shares.
Again, read the documentation they’ve sent out: 2 long docs on the FCA data repository. It goes through all possibilities.
1. If you do nothing, your LSE shares in broker will be liquidated and you’ll get the cash.
2. You can transfer your LSE digital shares from your current broker to a new AIX broker (Wood, Freedom Finance etc.).
3. You can ask for paper certs from your broker and upload them via Tabys (and vote and get dividends to your bank - free but you can’t trade)
4. You can get paper certs and register them with Poly and the AIX registry (no Tabys, no voting and POLY said they’ll do their best to get you divis - by cheque? - but no guarantee).
In all these cases the LSE (Crest) shares stop being valid. Read what they say about this scenario you’re suggesting (let’s call it option
5): I.e. request paper certs but you just hold on to them and don’t transfer them into AIX digital shares (like it’s Evraz). I think they mention this situation , but it was nothing good (or anything you would want to try).
I think they just stop being worth anything and you’d need to make a (legal?) case to Poly at some point in the future.