The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Thanks Stonehenge. I use Youinvest personally and last time emailed Andy Bell and he forwarded to the right department and I got the action notice within one day. This time I tagged Andy on LinkedIn and same day the notice came through (may be a conincidence). I use IG for my business account to cannot withdraw the money and move it easily. In addition I have emailed the whole board of IG and tagged them on LinkedIn and nothing. It seems their board do not allow emails from outside parties so I am in the hands of one Compliance Executive.
Hi, I am still onto IG Markets to allow the scrip (and will not be giving up). Basically they just need to complete and email a one page template form with name of nominee holder, phone number, date and email address. We are still waiting on the Financial Ombudsman from the claim I raised on the December 2020 Scrip in January 2021. I don't expect the case to be opened for at least 4 months due to Covid.
However on the Financial Ombudsman Service website under 'Stocks and shares' and 'Corporate Actions' it clearly states 'we’ll also consider what’s fair and reasonable in the case of the individual corporate action in question. We might also need to look at the timescales and deadlines involved.'
So is it fair and reasonable after more than 1 months notice to not carry out a FTSE250 Corporate Action that by not doing so would effect the investor 10 times and the process of carrying out the action is the completion and email of a one page template form which was completed by other major share dealers such as AJ Bell, HL, Halifax, Rowan Dartington?
In addition worth pointing out that by 'materially diluting' the IG customers then firms such as The Vanguard Group, Inc. and Norges Bank Investment Management could benefit due to being named shareholders of IG Group Plc and Hammerson Plc.
Any comments gratefully received by Rob Reid in the IG Compliance Department compliance @ ig.com
This is to alert anyone holding HMSO shares in an IG.com Dealing account.
Basically, IG.com do not pay the Hammerson enhanced scrip dividend. They are probably the only major share dealing company that so this. If you hold shares with Hammerson in a dealing account on IG on 1 April 2021 you will not receive the enhanced scrip dividend. Last time it meant receiving a cash dividend of 2p rather than shares valued at 20p, a huge difference.
These are comments from IG.com:
‘IG have never offered, nor claimed to offer scrip dividends. It would not therefore seem reasonable to expect such. Having reviewed your prior correspondence with IG, I see that you were clearly informed of this approach on 27 November. When such an election is made available to shareholders, it is IG’s policy to take the usual cash dividend and not pass on this election to its clients’.
‘Please note that IG’s treatment of scrip dividends has not changes since our response to you in January’. (January comment previous paragraph)
These are comments from Hammerson:
‘Shareholders electing to receive the Enhanced Scrip Dividend Alternative will be entitled to receive New Shares with a significantly greater value than the cash Final 2020 Dividend.’
‘I sympathise that some of the platforms have been less than helpful – I myself have been using IG so it is disappointing. It is not a universal issue or a systemic issue, however, Hargreaves Lansdown, Halifax, and Rowan Dartington among others have elected to offer their clients the scrip.’
Here is a comment from AJ Bell on the November Scrip:
‘Given the demand for facilitating this SCRIP dividend for Hammerson, I can confirm that we are offering this as a one-off.’
It is worth adding that the mechanism for obtaining the enhanced scrip is basically completing a short template form and sending it to Hammerson.
This is to alert anyone holding HMSO shares in an IG.com Dealing account.
Basically, IG.com do not pay the Hammerson enhanced scrip dividend. They are probably the only major share dealing company that so this. If you hold shares with Hammerson in a dealing account on IG on 1 April 2021 you will not receive the enhanced scrip dividend. Last time it meant receiving a cash dividend of 2p rather than shares valued at 20p, a huge difference.
These are comments from IG.com:
‘IG have never offered, nor claimed to offer scrip dividends. It would not therefore seem reasonable to expect such. Having reviewed your prior correspondence with IG, I see that you were clearly informed of this approach on 27 November. When such an election is made available to shareholders, it is IG’s policy to take the usual cash dividend and not pass on this election to its clients’.
‘Please note that IG’s treatment of scrip dividends has not changes since our response to you in January’. (January comment previous paragraph)
These are comments from Hammerson:
‘Shareholders electing to receive the Enhanced Scrip Dividend Alternative will be entitled to receive New Shares with a significantly greater value than the cash Final 2020 Dividend.’
‘I sympathise that some of the platforms have been less than helpful – I myself have been using IG so it is disappointing. It is not a universal issue or a systemic issue, however, Hargreaves Lansdown, Halifax, and Rowan Dartington among others have elected to offer their clients the scrip.’
Here is a comment from AJ Bell on the November Scrip:
‘Given the demand for facilitating this SCRIP dividend for Hammerson, I can confirm that we are offering this as a one-off.’
It is worth adding that the mechanism for obtaining the enhanced scrip is basically completing a short template form and sending it to Hammerson.