Member Info for Keithb1

The question I I'm more concerned about is what happens if this share recovers? If shares are sold from an ISA and rebought in a non-ISA account , does the new purchase price become the cost for CGT purposes going forward? For example, if an investor has 200,000 shares in a ISA at an average cost of 21p and these are sold and rebought in a non-ISA at 7p, and then by some miracle the shares get back to 21p, what is the result if these are then sold . Has the investor made a gain of £28k (200,000 x 14p) with a CGT liability, despite having just recovered his original costs?

Sounds like they are eligible now but won't be as soon as the de-listing happens.. I've emailed MTR to ask for their response.

Yes, but votes were cast in respect of only 1 third of the shares in issue so the resolutions were all carried on the back of a small % of the votes that could have been cast. All it needed to defeat these changes was for the holders of the other 120m shares to actually vote. P*ss poor by most holders!

I believe ii are re-examining their interpretation of the relevant sections of HMRC's rules as they may have have reached an incorrect conclusion. Hopefully we'll get to the bottom of it soon.

Message from H-L in my secure messages :-
I can confirm that our corporate actions team have advised that Metal Tiger (MTR) will remain eligible for holding in a stocks and shares ISA following the UK de-listing and re-listing in Australia (ASX).
Luc Enright
Senior Investment Helpdesk Consultant

I forgot to ask them about eligibility for Junior ISAs, but assume it would be the same.
There doesn't seem to be any dispute/confusion on here about eligibility for SIPPs

I've just spoken to a different individual at H-L and he also stated that the CDIs are ISA eligible. I pointed out the communication received by Jargesboy and the H-L chap is going to investigate and ring me back.

I think you're correct on all counts there MrR. I'm not selling at these prices. My most recent concern was whether when H-L transfer the shares they would lose their ISA and SIPP drawdown status. I have just spoken to H-L and been told the holdings will still be within the ISAs and SIPP accounts and they are going to confirm that in writing. I was concerned that the SIPP holding would count as a withdrawal and generate a tax bill. Talk about adding insult to injury (or vice versa!).

This a nightmare of the company's making but I'm sure we'll wake up some time and find the SP has regained some realism

Has anyone actually had the shares transferred into an ISA. Actually I'm not sure it's that important as there's no dividends and I suspect most folks will sell before they have to worry about capital gains tax.

Looks like no-one can be bothered to go on Monday, then. Very disappointing . No wonder they can do exactly what they want and get away with it. Apathy rules!

Is no-one going to go ? As I've said before I'll go but 1 on his own is no good.

So, who have people transferred to?

I'm sure they don't. I'm prepared to drive from the Midlands but I don't want to turn up on my own., there needs to be a reasonable number turn up., 20+ if possible to make a bit of noise.

I've eventually got through to HL and was told they are waiting for info from MTR so that they can present alternative courses of action to their clients. I am reluctant to sell up at this price but might have to. I'll wait to see what HL come up with.

I'm having difficulty speaking to HL with regard to what to do re the MTR shares. Is doing nothing an option? All the shares are in either ISA s or a SIPP draw down account. Anyone help with any info?

buy yesterday afternoon wasn't it. Someone must be confident.

I'm inclined to agree Gold....Why would you want to stay invested in a company that will be nothing like the one you originally signed up for, deals in things you don't understand and is run by people you don't trust, not least because this change is being pushed through at such speed that there's nothing you can do about it.

And they've obviously persuaded enough of the major shareholders to go along with it. Perhaps some of them would like to explain to the rest of us what makes them think this is good for the company and us minnows.

I've emailed Charles Hall and I hope left him in no doubt as to how I feel about this change and the Board's conduct. i e disgusted!

Hi Stuart. Do SI hold your shares in a discretionary managed portfolio?If not I'm surprised that they would be able to dispose of your shares without your instruction to do so rather than saying they will unless you tell them otherwise. My guess would be that most managers like HL would not hold MTR shares in discretionary portfolios and so will not have power to sell them unless instructed. i'll check with HL tomorrow what they intend to do.

Yes, but I don't fancy paying a lawyer at what they charge for an hour's work. I think our only realistic option is to attend the meeting and make our feelings known, but I raised this last week when all this first happened and there was no response on here even, so I can't see us drumming up wide support for anything stronger in the time available. Presumably the Board have the support of the major investors such as Rick Rule and associated holders as well as folks like BMJ and Illaquens on here. It's no wonder directors get away with screwing small shareholders-the odds are so stacked in their favour.

There's already a meeting arranged-can't we just add a resolution to the agenda?

An alternative resolution (or several) seems a good idea . How is it done? Anybody know/have any experience of this sort of situation?