Member Info for jotom750

Onbe.

PS.

Can you please show (with quotes") where HL's statement is not completely clear (assuming that the post by JAB is accurate?

This has nothing to do (in my view) with any ability to trade the shares, (which I do see as a reason to find a KAZ broker if that service is required). I do understand that they may be "Locked in" to the ISA for a certain time.

Onbe

"I think HL is saying that POLY’s shares can ‘theoretically’ be held in an ISA or SIPP - if you can find a broker that offers ISAs/SIPPs and is connected to the AIX index. "

I'm not sure why you are saying this is "Theoritical" as it has been posted by "justanotherbot.." as a reply from HL

"Would a delisting affect my ability to hold Polymetal shares in an ISA or SIPP?

The AIX is recognised by HMRC as a qualifying ISA market, so the shares will still remain eligible to be held in an ISA after the LSE delisting. The shares will also remain eligible to remain within a SIPP.

I accept that divi payment status is as yet unsure, but to me at least their reply is quite categorical.

Autonomy.

Does it make you happy talking to people like that? None of us know each other’s personal circumstances or reasons for investing. Some might say any stock investing is too risky, and see fit to place their money under their mattress. To each their own.

GLASH.

Anon3

The question was....

""I don't understand how HL can say this as its been stated by other people and the company that the share won't be able to be sold or pay dividends after moving to AIX."

The reply was

"They can say it easily, because it's true. If you can find a platform that does ISAs or SIPPs and deals with the AIX you will be able to trade etc. The problem is that it seems there isn't one."

Whilst this all still seems to be in a state of flux, I see the two things:-

Having already bought stock in an ISA in a dormant state, but because they are legitimately held shares in a qualifying exchange still able to receive dividends from the issuing company (Polymetal, maybe even paid directly), (Or be owed dividends to be later paid).

And.

The ability to trade any Poly Kaz or Ru shares, (sell or buy) via a "non interested broker",

as two very different things. I do understand that some of this is as yet unknown, and that it's easy to dream that all will be well, but by the same token it's also true that the shares were bought legally, in a legally listed company. To stop investment anew is one thing, to penalise the public in the present (changed) circumstances for legal prior actions is quite another.

Fingers crossed.

Hopeful

There are many unanswered questions at the moment, far too many in my view to do anything hasty.

I intend to contact ii tomorrow to find out if they have fleshed out any further details other than those already seen.

Fingers crossed.

Hopeful.

I don't know, but part of the redom is to enable the paying of divi's to all shareholders, that is known. So, if held within the ISA that means that the shares are owned, are they not? Why would they not be paid to those shareholders, or at the very least have the monies paid into some sort of temporary escrow account until relisted as PolyK?

DC2007

All good points, but are not the shares simply held in their nominee account on the behalf of the owner? How can they unilaterally then determine them as Zero value? (remember they are still being traded on an exchange, and have a quoted value). When the divi's are received (these are paid by the company and are nothing to do with AIX) are they (the broker) not just a conduit, passing the monies over based on their ownership records?

I don't want one thing or another, I simply want a correct answer. Seems to me, that the rules have to be adhered to then people can make decisions.

Echo1

I hope I'm not intruding, but if (via HL) you can still hold Poly in a Sipp or ISA (and receive the divi's tax free). Knowing that soon they will split, and the Kaz part be relisted on LSE (allowing trading again). It seems to be thought that when relisted PolyK will be worth more than present combined Poly, and being able to take a buy off for the PolyR stock. What do you see as the problem?

Why would you wish to take certs ? Does it then mean moving them out of the ISA?

Thanks for your help.

Hopeful

Yes, I see, with that holding you won't breach capital gains allowance on dividends only if selling a large gob at one time.

Bsr

"When people talk of a Kazakhstan broker that does ISA it is just obvious to me that they are in over their heads"......

An ISA is a UK government approved savings account, it can take a number of forms. In one format the government allows stocks (and other financial products for example) from many worldwide approved stock exchanges to be held and protected in that account, AIX being one of those stock markets. The link to the list has been posted here many times. I hold American and German stocks as well as UK ones in my ISA account, no problem there, no tax paid on earnings, or when the capital is removed, a £20K input limit per year, (at present) but no maximum total account holding, (there are some, (not me) ISA millionares). This is administered by the broker, who in my case is ii, though I have used Clarles Schwab and TD Waterhouse to do the same thing. The issue (as far as I am aware) with the Polymetal redom is finding a broker who deals on the AIX and who is also willing to handle the administration required. Maybe, when they learn of the amount of business this could generate some may step up to the plate.

Please correct me anybody if I am wrong in any of this.

GLASH.

Hopefull.

"I was tempted to try to sell then rebuy in an AIX ISA but I don't like the idea of me selling then price rockets in the meantime. If it were a steady stock then I wouldn't mind but this stock is extremely volatile."

May I ask, who would you buy the shares through whilst they still being in the ISA? (What broker)

Thanks.

Hopeful.

"is not the main issue at the moment, confirmation of a broker in Kaz who can manage UK ISA's?"

Or a UK broker that is prepared to handle the matter that is.

Hopefull.

Maybe I'm wrong, but is not the main issue at the moment, confirmation of a broker in Kaz who can manage UK ISA's?

If one is found, we then just transfer the stock whilst in the ISA from one broker to the new one, as if they were UK based companies handling LSE listed stocks.

Ninna.

I would imagine (please check) that when split, the Kaz part will return to LSE and be tradeable as before, the RU part may be moribund if kept, I don’t really know, but they would pay dividends on it as this is what Polymetal have wanted to do all along, (how and if that goes into a UK account I have no idea) or if sold, the monies go into the account that the stock was in at the time.

Fingers crossed. (And toes)

Neeeew.

As I think I may have said, please do confirm this yourself (report findings here if you can please) as it is as you rightly say "A complete game changer" .

It's far to important to get the wrong end of the stick.

GLASH

Ninna.

I'm not at the moment, but soon will be I think, as I have just spoken to A J Bell about ISA transfers and dividend payments. The lady (very helpful and knew about it all other than this one issue), asked a colleague and came back with the answer that dividends (from Polymetal if in Kaz on AIX exchange), will be paid into the same account as the holding account, and confirmed that it could be an ISA stock holding and hence an ISA account.

To me, that's great news. I'm not looking to sell (I don't think they offer that service for AIX but did not directly ask) but the divi's will be protected and hence tax free. The only issue I could then see is if required how could one sell up? (When the KAZ/RU split and relisting of KAZ onto the LSE occurs this could be made easier).

Thanks Ninna for the great info. Please though confirm this yourself, and if possible report your findings here if that's OK with you..

GLASH.

Ninna.

Thanks for the info, mine are crossed too!

As you say, there are issues when/if wanting to sell. As has been said, when the kaz/Ru split happens one will be able to keep both or sell RU based stock and keep Kaz only. Then if relisted on LSE (Kaz only) a degree of normality will return. How that split is actioned I don't know.

Ninna

"Unfortunately we do not trade the AIX exchange so we will not be able to place trades for POLY once it relists in Kazakhstan. In the meantime you are still able to place sales (provided the market condition are right) or you can continue to hold the shares once they have listed on AIX."

Are they saying that you can still hold the polymetal shares in your ISA when they move to AIX? (and hence get dividends paid to your ISA also?).

Thanks for the information.

YanaAlikhan

Over the last couple of days, this board has had one goal, the assistance of all that asked questions. It has been unified in a way that I have never seen it before. Only YOU had the propaganda like mind to raise "War" subject, maybe your bosses did not like this newfound friendship and unity of purpose. I wonder who those people would be.....

GLASH.

Reckless.

Thanks for the info. I suppose, depending on values (remember the single year ISA limit is £20K) one could play musical chairs with investments. Transferring some to a standard trading acc, (not sure if you may have to sell and transfer cash) then transfering the remaining ISA component to the new ISA. Then transfering back (if less than £20K) the earlier monies to this years ISA based in the UK. Does all of that make sense? I hope so. As I said, it all depends on values and overall pot size.

GLASH.