Member Info for Winnimandala

For me … their financial planning is totally inadequate

Growing a business usually means getting income before increasing the head count ….not taking the easy option of diluting the company. They really haven’t learnt this and that is may why cheek was drummed out ….For trying to install those commercial values

It was because i had a buy unfilled order on ISA shares at the same time and they don't allow you to do both at the same

Tried to sell a few out of my IG share dealing account .. but it said “market is not available on line “ WTF does that mean ?

Still being run like a charity ….and then some .. Directors want to the salaries .. but from where I sitting they don’t seem to be earning them!

Brad may be they hold it in AuD as you sold in AuD .. And only convert back if you trade a UK stock or withdraw ..But if use it to buy ASX they charge you the FX cost even though they didn’t really convert it back to £ in the first place hence the time lag to with draw ?

Current spread makes it untradeable bid (0.20 offer 0.28) stayed like that all night. People seem to want hold on to these tickets.. I thought there would be more liquidity all things considered.

There’s no point in worrying about that .. currently until there’s an announcement.. it’s been talked to death .. especially by you .. with little positivity even with the latest sfuff .. have you contacted the company with your question .. no .. I didn’t think you had

Brad how did you manage to go from 200k up as you stated last week to 600k down of shares now ?

Brad it was always going to cost to buy and sell from dealer account to ISA FX charges both ways.. The only way to avoid a hit was to use new funds to buy then sell the existing shares into a rise covering the cost of any fx chargers with the rise in share price ..

Not sure how if they are outside the ISA they can't be put back in HRMC rules .. The fact you had TLOU shares in both is irrelevant because they have a paper trail of how many were transferred out back into the share dealer account when they removed them so could if allowed put them back. I suspect Steels ASX share were already in the ISA prior to transfer.. Hence they are kept within it.

Where did you transfer from? and may be the flip was done prior to your switch which would explain why they were still in your ISA

Hi Steel

Not sure IG actually know what they are doing.. It seems you are only one to have got the transfer back into the ISA memo ...I like most others have been told it can't be done. Let's wait and see if it actually happens could you post if it does.

Cheers

I used a limit order to get 130k and got the order filled @ 0.23 (my top bid price) with a 0.05% fx charge. @ around mid midnight the exchange rate at that time was 2.05 AUD.. i think the way you did it means the trade is best available at the time you submitted it hence 0.27 as the offer was 0.28 and bid 0.25 . it might guarantee you buy but its at the best price at that time not your best specified price. I looked at a fill or kill ..but didn't like that you could choose the price you paid it seemed to be the price at the moment you submitted it..

I can also withdraw the balance on my account if i want to, to so niot sure whats going on with your account BRAD

Thanks BoTS your foresight is beyond belief...i dop my cap to you

Agree its time to move on ,,,,,,,,,,,,,Now i understand the Problem and the process..If ever i get in that situation again at least i now understand what is required

Sorry Brad I don’t see it’s up to the trader to inform there broker of the situation.. it quite obvious that Tlou would notify IG of the impending situation!

It is then up to the Broker to take the appropriate action to protect its traders Positions. It’s obvious that Tlou notified all relevant broker s as to the situation as the other brokers acted appropriately.

Therefore the blame lies Solely at IG. Door ! Totally inept performance in what was a relative straight forward process

I think i have now assertaint what has happened here. The brokers who successfully flip the lSE shares into ASX shares and maintained them within the ISA wrapper. Achieved this because they actioned the flip well in advance of the delisting date. This flip was completed on or before the delisting date and therefore the shares were able to be kept in the ISA as they were still live at that time.

IG for whatever reason seem to have failed to understand the implication in terms of an ISA and delisted stocks . They seem to have done nothing until well into January. In fact the flip was only achieved well into February some 60 days for the delisting date. I find this unbelievably remiss of them. Having personally connecting them in December and again on the 2 January 2025 and got no response.

When I finally did get some response from their CA department they just said the flip had failed to be completed and they and their custodians were working to resolve this issue. We all know the results of this and how costly this could be for it's ISA customers.

The thing that grates with me is that at no time did IG contact me informing me of the flip or the process to achieving this. And as a broker i find this terrible customer service.

Is there any legal recourse .. I very much doubt it .. having had a quick look at their T and C's ...... But it then brings the question as to are IG fit for purpose?..IMHO

Yes boo bar .. IG totally let down its customers and by failing to act as the other brokers did and not flip the shares from LSE to ASX before the delisting date. They had no option but to remove the LSE share from everyone ISA … I never had any comms from IG. Prior to me getting in touch them .. And then they didn’t seem to understand what was going on! So for all their BS about being a forward thinking this and that the were slow and backwards

I found this in regards of HRMC rules;

Delisted Stocks:

Delisted stocks are not allowed to be held in an ISA and must be transferred to a share dealing account.

So this bring up the question regarding time scale .. between other broker performing the flip and how long IG took.. this must be where discrepancy lies .. the other brokers must have seen the LSE shares as still alive as they were ASX shares in all but name .. IG on the other hand saw them as delisted and then removed them from the ISA as per the rules ..