Antrim Egy Share Discussion Threads

[wonkachoc] 19/8/2019 16:29

My deposit was in the USA.

[p@] 19/8/2019 15:47

oilretire- is yours in USA $ ?

[dorsetlad] 19/8/2019 15:42

Selftrade just sent an alert and they have credited my cash account today at USD0.041772 per Share converted at a rate of 1.214571 to the GBP

[wonkachoc] 19/8/2019 15:10

I have the cash in my account and the shares have been counted as a taken loss. This is the same as a trade, the cash is allowed to transfer after settlement, especially if you only have a small amount of cash on balance to begin with. Good luck to the rest of you.

[oilretire] 19/8/2019 14:30

Showing in my ii account now. Not tried to withdraw yet as only checked via the app. Will log into full site later....

[canigou2] 19/8/2019 14:30

fyi, It would appear Selftrade have sorted this for me today. The important bit is below.

"Further to the Mandatory Reorganisation becoming effective, we will be crediting your cash account with the Sterling equivalent of USD0.041772 per Share converted at a rate of 1.214571 to the GBP today."

The cash appears to be available to trade again in my ISA and AEY are no longer listed in my 'folio.

Good luck to everyone else in getting settlement, it's been a long wait!

[enigma2oo2] 19/8/2019 11:34

I would have thought so too, not holding my breath- still nowt despite yet another promise.

[hugepants] 19/8/2019 10:13

If its a cheque job good luck. When Berkeley Technology liquidated about 10 years a ago they sent me a cheque in Canadian dollars. Lloyds told me it would take up to 6 weeks to clear. It actually took 4 weeks. However I held the shares in my own name then, if you hold AEY in a nominee account surely they just transfer the proceeds straight into your account?

[oilretire] 19/8/2019 10:08

Still nowt in ii

[enigma2oo2] 19/8/2019 08:48

Ah so it is a cheque job.Round here we get a postie about twice a week.

[enfranglais] 18/8/2019 16:52

Did Freddie (the Eagle) have an import duty stamp on his bald head?
Still waiting for the next excuse from Barclays!!!!!!!!!!
If they delay it until after a no deal, we might get parity between the £ & $CAD!!!

[itsriskythat] 18/8/2019 15:35

True. To my complete surprise a cheque was delivered today by Canadian bald eagle. It beats the money laundering checks.

[enigma2oo2] 18/8/2019 09:56

Someone reckoned they are paying us with cheques, another delay?

[fardels bear] 18/8/2019 09:52

HL don't normally have an axe to grind. The faster they manage to get our money the sooner they get that money on their books..

[enigma2oo2] 18/8/2019 09:17

Weasel words?

[ohisay] 18/8/2019 04:56

From HL yesterday FWIW

It is likely that Canadian Brokers are paid in the first instance with overseas brokers paid after. We have chased the liquidators and will write to you with confirmation once your account is credited with the liquidation payment.

[enigma2oo2] 17/8/2019 07:34

Whatever the reasons, my and most other brokers merely shrugged us off with lies.I was told- in writing- that the money would be paid on Aug 1.

After the date passed, the least they should have done was to keep us in touch , instead of their mushroom management technique.

As I posted earlier ii had the gall to ask me for 50p,fees which my cash on deposit didn`t cover.

[flyfisher] 16/8/2019 18:13

I have other liquidation situations underway.

My understanding is that to comply with money laundering regulations, the liquidator can only release funds to an account that has been verified.

It is quite possible that the verification process only started on 1st august.

In this instance it would appear that international verification is more long winded.

[wonkachoc] 16/8/2019 17:56

True that itsriskythat. I believe the Canadian Authorities held it up partly so that they could do their own investigative work. I do think 3 years is too long. B/C Antrim is/was a Canadian company, that government should do the most due diligence of any government, so they then could allow for the distribution to go forward for their own citizens - how nice of them.

[itsriskythat] 16/8/2019 17:23

Canadian tax authorities held this up for three years, but cleared the distribution of any Canadian tax liabilities.

Funny that no other broker has mentioned international money-laundering laws in connection with this distribution.

[wonkachoc] 16/8/2019 16:14

Charles Schwab has informed me that there is some international law to goes into effect when a defunct company is paying a final large $$ distribution (not nearly what it should be) such as this to investors in other countries. This gives the institutions time to verify there is no funny business (drug payout, weapons/missile purchase, etc...) going on behind the distribution. They claimed that "at a minimum" the average timetable can be as little as 5 weeks and no more than 2 months from the claimed distribution date. The law also states the banks are not allowed to benefit from interest appreciation either. Parts of the explanation make sense to me and parts don't. Hope this helps.

[enigma2oo2] 16/8/2019 15:59

Not sure, but it may be the Canadians will tax this money?

[fardels bear] 16/8/2019 15:23

Here's hoping HL will put it into my sipp where the AEY shares were held.

[alexkevin] 16/8/2019 15:20

Ok.....Letter from Barclays asking for details as to where money can be paid....so there's movement in the undergrowth....