Burford Capital Share Discussion Threads

[gusrezo] 19/10/2020 14:19

the broker DeGiro has performed a change of ISIN for Burford shares (if you own the shares in this broker, it has actually annotated a "sell" and "buy" operations, it has happened before with other companies with corporate events such a uplisting to a most senior market).
If you look at the ISIN in the LSE page, the ISIN is GG00BMGYLN96

but in morningstar or burford website (at listed in google search) is different:
GG00B4L84979 . So probably your broker needs to perform some action.

[bigbigdave] 19/10/2020 14:14

Thanks jock 👍

[jockthescot75] 19/10/2020 13:29

I assume this is where we need to look:



Jock

[kaos3] 19/10/2020 13:10

typed burford into investing.com for now only UK listing

[lazg] 19/10/2020 13:04

I tried an order on Frankfurt, went through without problems.

[peegeestips] 19/10/2020 12:09

HL posted this cryptic message against the info symbol next to my BUR holdings: "This stock is an interim line resulting from a corporate action that will be exchanged for cash and/or stock." Hopefully things will become clearer by 2:30pm today...

[stoxx67] 19/10/2020 09:00

@19816

me too WilliamC

[stentorian] 19/10/2020 08:53

ii show my BUR holding and value at £7.25/share - but they have invalidated the "BUR" TIDM. ii issued a corporate action notice as follows:

"Stock BURFORD CAPITAL LT ORD NPV
Event Type Mandatory Conversion
Description Mandatory Conversion

Terms: 1 new Depository Interest (DI) in Burford Capital for each existing share held.
Trading Blocked from: Close of business of 13th October 2020.
Expected Effective Date: 19th October 2020

Burford Capital Limited is in the process of arranging for its shares to be listed for trading on the New York Stock Exchange (NYSE). As a result of this, in order to allow trading of your holding in Burford Capital Limited to continue on the Alternative Investment Market (AIM), we will elect on your behalf to convert your existing shares into Depositary Interests (DI's), on a 1-for-1 basis

In order to facilitate this, we will block trading in Burford Capital Limited shares at close of business on 13th October 2020. This means you will not be able to sell or buy shares in Burford Capital Limited from that time until we receive the new DI's and credit them to customer accounts.

The new DIs are expected to be issued on 19th October 2020 and accounts will be credited upon receipt of these from the UK Depository."

[5chipper] 19/10/2020 08:49

Within correspondance from HSBC they did waen that for a time the shares may display as zero value in my account.

Seem to remember that this would be the case until US market open.

[williamcooper104] 19/10/2020 08:45

They ought to do that - it's irritating - but nothing too concerning

[gettingrichslow] 19/10/2020 08:45

Where’s the communication from the company on this???

[williamcooper104] 19/10/2020 08:45

I can trade BUR on interactive brokers

[epo001] 19/10/2020 08:41

Yes, nasty shock this morning on HL as a chunk of money had gone missing then noticed BUR showing as N/A. Surely in the absence of trades (e.g. Xmas) they show the previous day's close? This is something different.

[jomac2412] 19/10/2020 08:25

same here , got a bit of a shock ! must be same across all brokerages as no trades have taken place yet .

[smose] 19/10/2020 08:17

@WC - likewise, especially as I have lots in BUR.

[williamcooper104] 19/10/2020 08:14

Yep - HL have taken the value of my BUR shares from my account - was a little alarming when I looked at the total portfolio balance first without realising what happened

[jomac2412] 19/10/2020 08:00

Still no trading on HL ,maybe waiting for US markets to open .

[kaos3] 19/10/2020 07:18

I just googled BUR - last 24h. No major PR. Just old financial data.

????

Did not expect that.

I am CE based - so might not get same results as one US based but anyway

[bramcych] 17/10/2020 10:00

I think what will happen will depend on the US Broker Reports which I think will be public on day of Listing (Monday)

[williamcooper104] 17/10/2020 00:37

Totally Cannot count on £85k and can't assume you'll never have a lot of cash in your broker account So broker covenant v important IB park excess cash in shot term treasuries/gilts/money market funds Well worth understanding what your broker does with your cash balances Most people select brokerages on commissions when that's one of the less important things (within reason - HLs 1 percent fx fees, on both buys and sells are total robbery)

[old fool2] 17/10/2020 00:28

The other danger is your money could be locked away for 6 or more months before compensation and you won't be able to trade.

[williamcooper104] 16/10/2020 23:27

The £85k cash limit is v important But in a market melt down it's very easy to have way more than £85k in cash - at what could be the highest systematic/tail risk time when your broker could go bust So you have to look at the covenant strength of your broker - and not rely on having less than £85k in your account because when the risk is highest you could have a lot more at risk A Cyprus based, zero commission broker, even if FCA regulated, is a massive risk