RE: Last day of trading25 Sep 2021 18:43
Abbas,
I don't know about Oct 15th. This is what HL sent out. (I now also notice we'll have less protection against 3rd party insolvency. They really want us to sell -out don't they!)
'We’ll transfer the shares to our HSBC account on Monday 18 October 2021 to ensure it completes before the delisting is effective. The shares will continue to show in your Hargreaves Lansdown portfolio, but as the underlying custodian will be HSBC, or a sub-custodian of HSBC, there will be certain implications you should be aware of:
We’ll only allow sale instructions to be processed and all purchase requests will be rejected.
You’ll be able to sell shares over the phone by calling our Dealers on 0117 980 9800. We’ll convert the proceeds into Sterling, subject to the prevailing exchange rate at that time and our standard currency conversion fees.
You’ll be charged our telephone commission of 1% of the consideration, subject to a minimum of £20 and a maximum of £50. HSBC will also charge a transaction fee of £15 per sale, which will be factored into your sale.
You’ll be able to trade your shares on NASDAQ Stock Market once HSBC have registered them in the US market. This process will begin shortly after 21 October 2021 and is likely to take a number of weeks to complete, but we’ll work to ensure it’s concluded as quickly as possible.
The shares will be held with our third party custodian, HSBC, who may in turn hold the shares through a sub-custodian in the home country of the investment. The settlement, legal or regulatory requirements that apply to the shares may differ from those applicable in the UK. Your investment may not benefit from the same protections in the event of the insolvency of the third party that may apply under UK law. A more detailed explanation of these additional risks is provided in section A25 of our terms & conditions, which are available at hl.co.uk/terms-and-conditions.'
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