Member Info for Peller

As previously discussed, the fault here is with Barclays as holders with other providers have not had the same level of problems; hence the matter of compensation (which from previous experience will, I suspect, be nothing more than a token gesture).

Same here. They rang a short time ago to let me know. There will be a further communication next week regarding compensation. We shall see.

However my P/L shown is a complete fiction at -22.6% because the value and book cost are the same in dollars and the sterling book cost is the same numerically as the dollar book cost. My head actually hurts.

Yes, I've just received the same. The corporate actions don't seem to be very well handled, putting them in date order would be a start, I'm always having to guess which one is the new one.

A further call received on Friday afternoon - we can expect corporate action communications tomorrow regarding W8BEN and the forthcoming dividend. We shall see...

Thanks for this, very detailed and consistent with what I was told this morning. Regarding losses, I was very open in my conversation - I cannot say whether I would have sold or not at any given point, but I think you have the key words there Skydriver - "denied opportunity".

None of us can say what we might have decided on any particular day since this went through - the point is that we were not in a position to actually make a decision!!

The complaints team rang this me this morning. The issue is with the "depository" which in the UK is Crest, and Barclays and all the other brokers interact with it electronically. The US equivalent is run by Citi (as previously mentioned here I think) and Barclays do not have electronic transfer capability like for Crest, which is why they do not have their (i.e. our) shares yet. They are looking at the resolution to this, which may involve (bizarrely for 2025) using paper certificates for the transfer.

As to why this isn't a problem for other brokers it's difficult for them to comment on that but Barclays are apparently constrained by rules on client money due to being a bank which others might not be, or it could simply be that other platforms settled using paper anyway from the outset.

One of the questions I had was "can this happen again?" and the answer is yes, and it has happened before a couple of times apparently as well, which is causing some frustration amongst the client facing staff there judging by his reaction to the question.

In terms of timescale, this has now been escalated to senior management as a priority 1 issue, he couldn't give me a guarantee but is hoping it will be days. Regarding the dividend he confirmed that the dividend would be paid once the issues have been resolved.

I also asked about the way in which the corporate action was communicated, as this was very poor. If you are speaking to them it is worth making this point.

Some elements of their performance will result in customer compensation, but as others have noted here, that's not likely to cover consequential loss (my opinion rather than their statement). If you are holding via Barclays, and haven't yet complained, I would urge you to do so - that way we can build a bigger picture of what's happened here, plus "weight of numbers" of course.

We shall see what happens next...

Well, I've just raised a formal complaint with them as well, not that I am expecting much; the complaint timescale is about a week just for them to escalate and get back to you, and if I read the messages correctly they aren't expecting the Anglo problem to be resolved by then.

Spot64: Funnily enough that was my first thought when I saw there were no trading options! Who does your brother hold them through?

Hi 3bear: I had the cash element on the 10th of December; the Anglo shares remain untradeable in Barclays!!

I've been in touch with the registrar, Equiniti, and they said:

"We do not have an estimated timeline for this, as this is not in our control. We will try our best to send out the statements to the respective shareholder to their address on record once it is available in our database."

I have asked them who does control the timeline, to which they replied:

"Please confirm, if you are looking to receive an account statement after Energy Fuels conversion. If so, please provide some proof of ownership so we can check our records."

I did explain that I hold the shares via Barclays Stockbrokers in my original query, so doubtless I'll think of a polite way to remind them of this... I will update when (if!) I know more..

Still nothing in Barclays, I have chased and been told that they have been waiting for the DRS statement from the registrar since December, which if I understood correctly means the total number of shares to be received by Barclays which are then apportioned out to all the customers. I'm surprised that this is taking so long - I assume it's a money spinner for someone somewhere...

Mine are in Barclays, they appeared a few weeks back as AngloGold Ashanti AUDI showing as a GBR share, but untradeable (buy or sell). I have again queried this and have been told that they are awaiting information on exchange details and market makers. Sounds a bit odd to me, but I was wondering if others who now have the Anglo shares can actually trade them if they want to?