Member Info for Unimaginative

Technoinvest, I hate the haters as much as the rampers.

City, you don't get an opinion. You said this would go to the moon when it was at like 0.5.

Torn on this. I wanted to break even and get out. But the sustained rise with no news leaves me thinking it could have something behind it as it’s clearly leaky and somebody is loading. I reckon this will be a huge sell on news play unless the news is astronomical

He wasn’t pulling the strings, stop making stuff up

Well done Cull. Wish I had the balls. Too emotionally invested .

Sureasblazes, it was open to brokers before retail, them brokers gave it to their clients in a morning call and presentation, many of those clients bought because they want to make some nice tidy profit. A lad I know applied for 3 million. He didn't get the full amount but he is already weighing up selling immediately. The amounts that those sort of people will eclipse what the majority of the board have, they have no long term investment strategy and are certainly not emotional like most of us so if they make 20% on a few hundred thousand gamble many of them will be taking their money. So the comment "and would not want to bet on a big sell off on the first, many holders, like me, have no intention of selling" is meaningless, we are the minority. The flip side is that allows the minority to buy more and a substantial amount of the 8bn new shares is falling to institutional investors and large funds which will inevitably be sticky. So yes, I'm anticipating volatility and a large sell off.

It’s going to be volatile for at least a month. If I had balls I’d sell up and buy on the 1st October but you just know it would be that one day where it bucks the trend of normality.

I also wonder if it will be hard to move at breakneck speed when it settles down due to the liquidity, the stickier it is the more it moves and with 13bn shares in issue it will be interesting to see how capable of moving fast it is, hence the importance of funds and the big boys holding the shares

Don't think there is any point in pursuing further. Can't really argue with what they're saying. Poor management and communication across the board.

Whilst we sympathise with your situation, we can’t be held responsible for the allocation policy as this is out of our control as it’s dictated by the issuer.

From speaking with Mustafa, I understand that you’re looking to escalate the matter as a formal complaint. I appreciate this isn’t the outcome you were hoping for. However, I hope this explains the situation and the part we play in Retail Offer transactions.

If you remain dissatisfied with the service that you’ve received and wish to escalate the matter, then please let me know and I’ll pass all the details over to our Complaints Team for formal review.

Yours sincerely,

Aaron Willsher

Customer Account Manager

Thank you for contacting Mustafa on our Dealing Services Team. I regret to hear that you are dissatisfied with the outcome of the Greatland Gold Retail Offer.

For background, Retail Offers are relatively new transactions to the retail investor world as historically they were only available to institutional investors. We have been lobbying the FCA and the UK Government for several years pushing for greater retail customer access to IPOs and secondary fundraising.

Back in June 2022, we, along with Hargreaves Lansdown and Interactive Investor and several investment banks/corporate brokers, introduced a new service that gave retail investors an opportunity to take part in certain IPOs and fundraisings that previously were restricted to them. You can read more about this announcement here.

With regards to this specific Retail Offer, the issuer (Greatland Gold Plc) outlined in their RNS announcement (here) that both new and existing shareholders could participate.

We issued a notification email to all existing shareholders on the AJ Bell platform. This email provided customers with the necessary instructions on how to apply. Any non-shareholders on the AJ Bell platform would have had to contact us to obtain these details.

The Retail Offer was heavily oversubscribed and as a result, the issuer decided to prioritise existing shareholders. Consequently, non-shareholders received no allocation and existing shareholders were scaled back by 27.7%, receiving an allocation of 72.3%.

It's worth pointing out that we have no affiliation with Greatland Gold Plc, so any decisions regarding eligibility and the subsequent allocation policy, rests with them, as the issuer of the shares.

For most Retail Offers, eligibility is restricted to existing shareholders only. In those situations, we always require portfolio evidence from non-shareholders on the AJ Bell platform. However, given the terms of this transaction, this wasn’t required.

The initial RNS announcement did not mention anything about preferential treatment being given to existing shareholders in the event of the Retail Offer being oversubscribed. Had we known this in advance then we may well have taken a different stance to accepting orders from those that don’t hold the shares directly through ourselves, as we do not have the resource to start policing positions held on other investment platforms.

Unfortunately, as the issuer decided to prioritise existing shareholders, you have received no allocation of shares under this Retail Offer. I understand that you’re an existing shareholder via another investment platform and that you disclosed this to our Dealing Services Team over the phone. However, this information was not required to grant you access to apply, given you met the eligibility requirements as a new shareholder.

Further, I regret to inform you that the allocations by PrimaryBid, as the corporate broker, have been finalised, so it’s not possible to amend these

Good to know that Taverham. If I get wound up enough I'm the type that will definitely pursue that. So how the next few weeks play out and how severely impacted I am. Thanks for the heads up.

I've got to wait till the 1st October for them to release my funds after giving me zero in the placing? I'll be fuming if that is true. They've got 3 day lead time on my complaint so when they contact me I'll be checking, fortunately I have cash to hedge the money they're holding but that's not the point. I'm not rushing either way, not a chance there won't be a sell off, the share price will remain volatile for the next few months, if I'm wrong I'm wrong but that's what I'm banking on. Too many new shares for it to not be and if it's not and continues to rise then happy days, it's closer to my average than not so can't grumble.

no, why would there be? i'm relying on every ****er selling them so they can drop the price and the shares fall into long term holders.

This is painful watching at the moment, I should never feel it's painful when it's going up. Bloody AJ

Where has early 25 come from, is that from an RNS? I don't think I knew about that?

Thanks Taverham, while I love the idea I can't ever see a broker dipping into their own pockets :D.

My plan aside from a complaint which will no doubt result in a lovely pointless apology letter, is to fill my order every time it goes below 5.3, which admittedly at this moment in time isn't looking likely but I've been in this share waaaay too long to get the fear of missing out and if it rises then my average no longer looks as bad so it's a win win really, and if it does drop to placing around 1st October I'm well placed to load up and not worry about missing out in the placing due to incompetence of the call handler last week at AJ.

I've bought way too many shares at the wrong prices out of fear of missing a big rise and inevitably I've burned every time so exercising a bit of strictness isn't the worst strategy for me at the moment.

Doozer - Shocking statement. "Don't invest money you are not prepared to lose" - Sounds like you're a gambler.

Ricardo, they're still working through them but they know the allocations, give them a ring, it's option 1, they need your account ID and they'll be able to tell you. No queues on the phone and fairly easy to communicate with. 0345 543 2600.

Dean - It's a joke if they give you 0 for not being a holder after selling up, surely sense would have been to check anyone that has held in the past month, it's not exactly a difficult bit of code to run, it's not much more difficult than an excel formula for crying out loud. On the flip side that basically means that anyone who buys one share on the morning of the 12th would have been considered an holder.

I know you're never going to make everyone happy but to me it just means the brokers should make things much clearer for people to save confusion.

I'm fuming at AJ, if they hadn't have said I could have provided proof of my holding elsewhere I'd have accepted it but now they've said that I feel well and truly aggrieved.

Yep too late, I've raised a complaint as I clearly told them on two occasions that I was a holder with another provider. The calls are being listened to. Gutted/fuming.