Member Info for MF11

Not sure your grasp on metric measurements in the best.

167 mm = 16.7 cm = 0.167 metres

@MrTracy - No slaughtering from me.

Straight in the bin!

Unsurprisingly, it looks like VanEck took the opportunity yesterday to resolve the shortfall in their GGP Holding in the GDXJ. Well very nearly in any case, my calculation now shows they are only approx 72.6k shares underweight.

Having purchased 1,144,842 on the ASX yesterday.

@napthman1 - I am really sorry that you are so thick you cannot read a document, but hey ho. Your problem

@Napthman1 - No still alive and kicking in Telegram, very much a respected member there if I say so myself.

As for trying to ridicule me, perhaps if you learnt how to read first you might get somewhere.

https://www.vaneck.com/us/en/investments/junior-gold-miners-etf-gdxj/holdings/

Now please do not post on the subject again, you do yourself no favours.

With regards to the GDXJ. Please do not listen to the clueless one on the GDXJ (i.e. @Napthman1).

They add approx. 446,391 yesterday.

They are still approx 1.3 Million short of their required holding, but still adding on a daily basis.

Apologies - have NOW had their complaints rejected.

FAO anybody who held Greatland shares through Aegon UK, and raised a complaint with the company in relation to their handling of your Greatland share holding during to the transition to the ASX.

Everybody I have been in contact with in regards to complaint submissions to Aegon and their un-lawful sell down of our Greatland share holdings have not had their complaints rejected.

In doing so, in our opinion, Aegon have continuously breached a large number of different regulatory and fiduciary obligations they are required to adhere to. They have also been extremely economical with the truth in their dealing with the Financial Ombudsman's Business Services Team, which they have contacted, in an attempt to justify their multiple breaches and ultimate decision to sell down our shares and reject our complaints.

For these reason, many of us are intending submitting individual complaints to the Financial Ombudsman, The intention is to put together a template for a co-ordinated complaint that you can then personalise before submitting to the FOS.

If anybody is in the same boat, i.e. has had a formal complaint rejected by Aegon with regards to this, and wishes to join us in a co-ordinated submission.

Could you please email me at -

GGP_AAA@btinternet.com

I'm sorry Napthman1 but you are absolutely clueless on the subject. Rarely seen an accurate post from you on it, so not really sure why you bother.

As posted yesterday, VanEck now show 2 different holdings for Greatland Resources in their holdings for the US Quote.

One in London and one on the ASX.

GGP LN Greatland Resources Ltd BBG01VJFVH13 6,866,043 Stock 28,944,529.11 -- 0.53%

GGP AU Greatland Resources Ltd BBG01V7BTM08 3,543,689 Stock 15,037,109.85 -- 0.27%

So a total weighting of 0.80%, where as per the Market Vector weighting they should be 1.00%.

https://www.vaneck.com/us/en/investments/junior-gold-miners-etf-gdxj/holdings/

I note that VanEck are now correcting there shortfall in Greatland shares. They have been acquiring on the ASX since the listing.

Current Holdings -

56 GGP LN Greatland Resources Ltd BBG01VJFVH13 6,866,043 Stock 28,944,529.11 -- 0.53%

69 GGP AU Greatland Resources Ltd BBG01V7BTM08 3,543,689 Stock 15,037,109.85 -- 0.27%

Still around 2.25 Million short of the overall holding required to match the MVIS weighting, but appear to be adding on a daily basis.

https://www.vaneck.com/us/en/investments/junior-gold-miners-etf-gdxj/holdings/

Sorry, no idea, I am aware of 10 others that have submitted complaints on this, but there may be many more.

It should be noted that Aegon are one of the biggest pension providers in the UK with an investment pot in excess of £200 Billion.

So I would imagine it would be quite a few million shares.

All,

I thought it was probably appropriate to provide an update on the ongoing saga with regards to complete and utter mis-management, of the corporate actions carried out as part of the transition from Greatland Gold PLC to the Australian listed Greatland Resource Ltd, by Aegon UK.

As you will have noted, Aegon un-lawfully sold down your shares on 26th of June, at a sell price of £3.274383 per share, and these will have been replaced in your Aegon account by a cash amount.

Aegon had absolutely no regulatory right to dispose of these shares. I am aware of a considerable number of complaints raised against Aegon's handling of this issue. I am also aware that at least 3 of these have reached their CEO (Mike Holliday-Williams), and these complaints are being handled by complaints handlers dedicated to the CEO.

I am also aware of different complaints from company pension schemes about the handling of this issue.

Despite the number and magnitude of the complaints Aegon, have refused to investigate many of their failings, and are still providing contradictory and incorrect rationale for their actions.

As such the issue has now been "Noted" with both the Financial Ombudsman Services and the FCA this morning (as I understand it no formal complaint can be raised until Aegon have completed their internal complaint investigation.

I am expecting a further update with regards to this ongoing issue early next week, and will provide an update on here if there is anything of substance to report.

The fight goes on, and it will not finish until we get a satisfactory conclusion.

@SaS - A bit more sympathy please.

If you have not read Aegon are forcibly selling down all of their Greatland Holdings.

Quite a number of irate holders being ripped off.

Question is how come AEGON are the only company who could not facilitate the cross listing.

How useless must they be!

@wolfmann - I think the key point to make is that : Noting that Aegon is not legally entitled to unilaterally liquidate assets held in anybody's SIPP without your explicit instruction, unless doing so is mandated by regulation (which it is not in this case), as there is clearly no regulatory requirement to sell down these shares in thjs case of Greatland Resources.

@Wolfman - I have had prior notice to this letter, and was trying to stop Aegon from sending this out. My understanding is what they are doing proposing is "Unlawful" - I would contact them immediately and tell them that you do not permit this.

Thank you for sharing Aegon's response. Based on a detailed review, you are entirely justified in feeling that this response does not stand up to scrutiny — from both a regulatory and contractual standpoint.

Below is a structured analysis, followed by recommendations for how to challenge it effectively:

🔍 1. Key Failures in Aegon’s Response

❌ Unlawful Discretion in Forced Sell-Down

"We’ve taken the step to sell down the asset via our broker (Winterflood) and will return proceeds to your wrapper as soon as we have received them."

This is the most troubling part. Here's why:

Aegon is not legally entitled to unilaterally liquidate assets held in your SIPP without your explicit instruction, unless doing so is mandated by regulation (which it is not in this case).

The FCA’s Principles for Businesses (Principle 6) requires Aegon to treat customers fairly. Forcing the sale of an asset without consent—especially one that could have been retained or transferred—is a breach of that principle.

The transaction is not part of the Scheme of Arrangement itself; the scheme simply replaced the UK shares with Australian Depositary Interests (DIs). The sale is Aegon's internal handling choice, not a corporate action requirement.

❌ Misrepresentation of 'Mandatory Event'

"This is a mandatory event so it will happen automatically..."

The corporate action (the Scheme of Arrangement) is mandatory, yes. But how Aegon chooses to process it within your SIPP is not.

Aegon is falsely conflating the Scheme’s mandatory nature with the decision to sell the asset. That decision is a discretionary action taken due to platform limitations—not a legal obligation.

❌ Improper Delegation to Winterflood (the Custodian)

"Please note the above terms are sourced from our Custodian Winterflood."

This implies Winterflood is dictating Aegon’s client outcomes, which is inappropriate and potentially a breach of FCA CASS (Client Assets Sourcebook) 6.3.1R. Under those rules:

“A firm retains full responsibility for the acts and omissions of its third-party custodians.”

Winterflood has no direct contractual relationship with you. Aegon cannot offload accountability or decision-making authority to its broker.

📑 2. Regulatory and Fiduciary Breaches

Relevant FCA Rules Potentially Breached:

Principle 6 – Fair treatment of customers.

Principle 3 – Failing to organise affairs effectively (e.g. not planning for foreseeable corporate action).

CASS 6.3.1R – Failure to properly manage third-party custodian obligations and ensure assets are correctly held.

COBS 2.1.1R – Duty to act honestly, fairly, and professionally in accordance with the best interests of the clie

@bampos21 - Yes you are probably correct.

That said, he should be more sympathetic to everyone's plight and be more selective in his wording.

It certainly got my goat!

@zoros - I apologise that you don't like discussion threads like the one on Aegon talking about share dealing issues.

However, I can assure you that it is of interest to the many Aegon SIPP holders and their long term investment in GGP.

Their threat to sell down every SIPP holders shares in GGP is simply unbelievable, and given that it will run into Millions of shares being dumped onto the market in one hit, would have a hit on the SP and a potential knock on effect on some of the weaker holders.

This is an open forum where the different posters attempt to help and support each other, so comments such as yours are totally unwarranted.

Good to know Sean, I'm in the process of trying to get this formally escalated.

I have tried to get quite a number of the relevant Heads of areas involved. In any case they have been notified of the issue.

Hopefully we'll get this moving forward to a get a suitable solution for all of us.

@Raystone - Yes it would, but unsure that is what you want. Aren't you invested in Greatland for a reason?

Up to you how you proceed, but everybody I am aware of, who is in the same boat with Aegon, are going the complaint route.

@TimberTrader - Thanks for your post.

No there is nothing in the T&C's stating that CREST Depository Interests are not permitted. It appears to suggest that any equity is available for trading as long as it can be traded publicly on a regulated market (such as the London Stock Exchange).

I do not believe they a leg to stand on. However, although, I have requested Formal escalation of my issue, I have only been met with a wall of silence.

Despite that I will get there, a number of their senior management team have been notified of the issue, and I have let them no in no uncertain terms that I will hold them financially liable for any losses incurred.

I know I am not alone in raising a complaint within their organisation, and I implore anybody else with a similar issue to:

1. Raise a formal complaint

2. Inform them they are not authorised to sell down any of your Greatland holding

3. Inform them that you will hold them financially liable for any losses you may incur

The more pressure that is put on them as an organisation the more they are likely to resolve this issue.