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Yes Ive noticed previously when Ive had to sell that one can sometimes do rather better than the quoted live bid/sell price on hargreaves. But this week, when I have needed some funds, the deal price per share offered was about .40 less than the live bid/sell quoted price on hargreaves own website.
I wondered whether that was usual across all platforms or whether there is something peculiar to Hargreaves that makes other platforms more economic (ie would Hargreaves be able to retain any 'profit' made on the sale of my shares for themselves in those circumstances despite the fact that a share dealing charge is obviously made - that can't be right?).
Apologies for discussing this when the topic of the moment is more properly the AGM. As you can tell from my language, I am not exactly au fait with the world of share dealing but simply have shares that I sometimes need to sell to liberate cash and then buy back in when funds allow. I am a holder of AFC since 2014 and consider myself invested and am hopeful for them and all of us.
Why is it that one can neither sell nor buy shares on hargreaves at the actual price shown for the shares on the ftse?
Sometimes the difference is considerable and enduring.
Is this peculiar to hargreaves? Or would it occur on AJ Bell for example?
Its does seem that unless you have an investor number with Link - the sirius registrar, the acquisition of a share certificate would have to be done through a broker or bank. HL said they could hurry it through in 5 days (which they say is industry standard) but that only leaves 1 day for the registrar to get the voting slips out by post assuming they action immediately. So unless anyone else has any bright ideas it looks as if I may have run out of time.
Apologies if I have wasted anyones time with my earlier post without first calling Link. I have had a number of email exchanges and telephone calls with HL over several days and it is only today that they have been clear. Somewhat frustrating. Am posting in good faith, but rather a novice Im afraid. Also to be fair to HL, this post should probably be called 'Voting pitfalls when holding shares in a nominee account' With thanks to ffcmember for info too.
I have now heard back from HL. If your shares are in a SIPP, it appears there is no mechanism to transfer shares out of a nominee account. However it is possible to register as an individual shareholder by purchasing a single share via Sirius Registrar. You can then cast your vote as you wish. The contact number for the Registrar is 03716640300 and the organisation is Link. I hope that may be of some assistance to those who feel strongly about wishing to ensure their views are recorded whether for or against.
Thank you for your response. I have gone to the source as you suggested and looked through the Scheme document on the Sirius site. It seems to suggest that If you hold Sirius Shares as a beneficial holder through a nominee, in order to ensure that you can attend and vote (in person or by proxy) at the Court Meeting and the General Meeting you should contact your nominee and ask to be entered on the Sirius register of members before, so I have requested that of HL and await their response. Hope to be able to do this in the time available.
Having asked , HL confirmed to me that when you vote through HL as your nominee they do not simply submit one vote based on what the majority of their clients want. Instead they submit all clients' votes in the proportion of those who vote 'For' or 'Against' the motion. Their suggestion was that it means my vote is counted and there would be no need for me to withdraw my shares to vote as a certificated shareholder.
On the phone, they also said that the number of shares that each client had impacted proportionately.
Given this, do others think that there is still an advantage- in terms of having your vote count - from withdrawing from HL's nominee account and voting as a certificated shareholder?
This is my first post so apologies if this topic has been exhausted prior.