Ecofin Water&powr Opportunities Share Discussion Threads

[mundungus] 28/9/2016 17:05

Beaufort securities have had issues too. They completely missed the allocation of EFR shares

[spectoacc] 28/9/2016 16:59

Posts above on HL misallocation.

Though to be fair to them & all the other brokers - the cash won't settle until next week, & it'll change very slightly from original figs to a few decimal places.

[spider1] 28/9/2016 16:52

Anybody know if the above allocations are correct ?

[spider1] 28/9/2016 16:52

147 EFR were added yesterday and a further 3603 EFR added today to make a total of 3750 EFR

[spider1] 28/9/2016 16:48

Opted for 100% cash exit on 15,000 shares. HL account shows 3750 EFR, 588 Ecofin Global and 14,412 cash exit ?????????

[orinocor] 28/9/2016 10:20

I contacted IWeb. They said.

"We haven't received the entitlement at this time, we are still awaiting to receive the stock from the registrars".

[hpcg] 28/9/2016 10:09

HL have corrected mine, so thanks for your follow up wansze. IG are still to do anything at all, and that was the account I defaulted, so no excuse there. I'll call and ask WTF? I've found HL much better than Barclays who couldn't cope at all when LEAF did a capital reduction last year. I had to walk them through it - embarrassing.

[larmor] 28/9/2016 10:06

Anyone heard from Barclays yet? I know they have the reputation of moving like a tortoise on Mogadon!

[neilyb675] 28/9/2016 09:31

Halifax very tardy.....

[flyfisher] 28/9/2016 09:04

No complaint from me, we all make mistakes, they will correct it.

[joe say] 28/9/2016 08:53

Have done - and thanks

[spectoacc] 28/9/2016 07:13

Same situation as before here - hold in 4 a/cs over 3 brokers. One done nowt, one left in ECWO but added correct number of EFR, one done "assured cash" ECWO and EFR, but only allows EFR sales in ISA as says it's not eligible (when it is), but allows buys & sells on EFR in SIPP.

To be fair, there's this strange long lag between the EFR/EGL listings and the cash settlement, so not expecting any brokers to show it all until early next week (or "week commencing 3rd Oct" per ECWO).

Edit - broker who had previously done nothing now has the "assured cash" ECWO and EFR, but is only allowing sells not purchases on EFR. So fairly consistent across 3 (non-HL) brokers.

[joe say] 28/9/2016 07:04

wansze - i'll work your figures out in detail and if I agree then I too will be onto HL

Thanks for the detailed logic

[hpcg] 27/9/2016 22:35

flyfisher - I would put it down to incompetence. I have the same issue with HL, who will get it right eventually based on experience. IG has not yet done anything. I have avoided Barclays with these as on some capital returns and reissues I have had to phone up and explain what they need to do.

[flyfisher] 27/9/2016 20:49

Yes, it is not unusual to get an over allowance in these tenders.

[brwo349] 27/9/2016 20:48

You should have got 11520 EGL and 10000 EFR. The cash election is about right.

[rjmahan] 27/9/2016 20:43

It might be a quirk of nominee accounts - Ecofin know shareholder Hargreaves lansdown, holds 100 shares, of those each held by 1 person - 50 do nothing, 50 opt for 100% cash realisation - so those who opt for realisation can get it.

Or it could be a mistake.

I tendered 100% - will see what I get.

[flyfisher] 27/9/2016 20:37

This is what my account is showing for a holding of 40,000 ECWO.

Ecofin Water & Power Opportunities plc Assd Cash Exit Election 38,433 units
Ecofin Global Utilities & Infrastructure Trust plc Ordinary 1p 1,567 units
EF Realisation Company Ltd Ordinary Shares NPV 391 units

They have allocated 1 for 4 of the residue to EFR.
I expected 1 for 4 of the original ECWO holding, ie 10000.

[brwo349] 27/9/2016 20:36

A shareholder with 1,000 EWPO Shares who elected for the Cash Exit for their entire holding can expect to receive £965.07 in cash, 288 Ecofin Global Shares plus 250 EF Realisation Shares.

[asmodeus] 27/9/2016 20:27

Many thanks, Flyfisher. Tight lines ...

[flyfisher] 27/9/2016 20:22

It could be, as they seem to have allocated EFR incorrectly.

Either their calculation of EFR allocation is incorrect or my reading of the deal terms are incorrect.

Anyone else hold with h/l.

[brwo349] 27/9/2016 20:01

???
That just sounds wrong