Abcam Share Discussion Threads

[bathcoup] 15/12/2022 16:38

Sorry for the typo, thanks for correcting me. It was a last minute decision. BTW the shares had been held outside ISA; I bought 3,000 shares at 244p (before 1:5 split) for our joint account in early 2006. At that time AIM stocks weren't allowed in ISA's. I started unloading them a few years ago. Now I'm done with ABC.

[jeffian] 14/12/2022 15:26

Blimey! How did you manage that? They seemed to peak around 1240 yesterday.

If you hadn't sold, you would have been stuck with unmarketable shares but the option would still remain to convert them into ADS's, although if you did so after the deadline of 13/12, this would incur some cost. This from the HL advisory letter -

"There is no fee to convert to ADSs up until the delisting of the shares from AIM. After this, conversion into ADSs is expected to incur a stamp charge of 1.5% of the value of the shares and a conversion fee of USD0.05 per ADS created."


Edit: I've seen your trade. It was at 1241.06.

[bathcoup] 14/12/2022 15:18

jeffian - I wasn't as nimble as you - I sold our remaining 1,200 shares at 1,421.06p a piece yesterday afternoon. I do wonder what'd happen to the shares if I hadn't sold them.

[jeffian] 12/12/2022 17:34

I don't think it was a case of HL "not playing fair", they were just following the rules. So far as I am aware, you could have dealt in the shares in your HL account up to 13 December. They gave you the option to convert to ADS's at no cost, but ADS's do not qualify for ISA protection, so if you opted for ADS's in your ISA account, these would have been transferred out of your ISA into your normal trading account (thereby losing the value of the tax shelter). Alternatively, you could have sold in your ISA (as I did, to keep that cash-value within the wrapper) and repurchased in in your trading account (I didn't; waiting to see what happens).

[bulltradept] 12/12/2022 14:05

ii.co.uk, stopped allowing you to trade it from 22 nov. So it isn't just HL who aren't playing fair with the retail punter.