RE Cannot buy these shares24 May 2018 22:33
You need to contact MTR to get them to provide a linked KID document to the sharedealing platform concerned. see response re Hallifax dealing platform. Hope this helps.
Just a follow-up to see if that works for you now? We were told yesterday early afternoon that all up and running. Please let us know if you know otherwise.
Many thanks
Kind regards,
Sasha Lyanzberg
Executive Assistant and Project Coordinator
Metal Tiger PLC
107 Cheapside
London
EC2V 6DN
Hi Michael/Sasha.
I note you have now provided a Kid document to your web site. However talking to Halifax share dealing the other day, people still can't buy your stock on their platform or some others from what I've heard, due to the fact they require a direct link on their site to get to the document on your website for printing or saving rather than relying on people actually having to go to your site themselves as they people may not bother . (What a Bureaucratic nightmare!!!!!). They are saying they have been in touch with you about the matter.
Regards
Our lawyers are preparing letters and advice which is still pending. It will take us some time to figure out the best way to prepare a KID as the company and its lawyers do not believe that we should be caught by this legislation and that any KID will ultimately be highly misleading. The company is considering all angles to plead its case but is also receiving advice on the best way to prepare a KID. There was no warning by AIM regulation, the QCA, the FCA or the London Stock Exchange, or indeed lawyers that AIM quoted investing companies may be caught by this legislation. In January we prepared a legal letter which caused Halifax to continue to allow purchases on its platform, this decision was recently reversed much to our surprise.
Please note the disclaimer prepared by 3i: 3i has produced a KID but effectively said it was misleading. This suggested that they were caught by this legislation. https://www.3i.com/investor-relations/key-information-document-kid/
We are conscious of the frustration and we and our advisers are dealing with this matter as quickly as possible but are conscious that the final product may create more confusion and the Board needs to consider its position when producing the document to ensure that it is not overly misleading.
In the meantime, should you wish to purchase MTR shares could I please make the suggestion that you use a brokerage that allows you to buy our stock as unfortunately this matter will likely not be concluded quickly.
Kind regards,
Michael