Dmatek Ld Share Discussion Threads

[mctmct] 08/5/2009 09:06

INFORMATION FOR BARCLAYS STOCKBROKERS CLIENTS

I received this email to my enquiry about payment dates this week:

"Having investigated further, I confirm tax forms were sent to clients to complete. Payment will not be made until all forms have been received which is likely to be September/October. Please feel free to contact me if you've not received this form and I'll arrange for another one to be sent to you.

I hope this is helpful. If you have any more queries, just let me know. Alternatively you can call our Client Service Team on 0845 601 7788*.

Kind regards

Karen Berry
Client Service Team

Barclays Stockbrokers "

SEPTEMBER/OCTOBER!!!

I have replied as follows:

"Thanks for your email.

I realise the delay is not your fault personally, but please take this as a formal complaint. Shareholders who held their shares with certificates have been paid already, so nominee shareholders are being severely penalised by having substantial proceeds sterilised for many months because of the bureaucracy of these tax forms. If I had been warned of the problem (which must have been obvious to Barclays, as experienced brokers) I would have sold the shares in the market at 208p rather than wait for the takeover.

You gave an April 22nd deadline for returning the forms, as I recall. That has now passed. I can see no justification for waiting for the laggards to get round to doing their paperwork.

In any case, why not apply for 75% of the proceeds and distribute them immediately, and ask that the forms are used just to allow for the 25% withholding tax to be released?

I shall never buy an Israeli equity again. If you have the opportunity, you might pass that information to the Israeli authorities. I have no doubt that many investors feel the same."

[milesn] 08/5/2009 08:52

Yes, thats the chap

[holts] 08/5/2009 07:58

Thanks, Miles , I think all Selftrade clients should follow your example and write to complain, as you , I am very irritated now.


Am assuming you sent it to Paul Greetham

[milesn] 08/5/2009 00:38

UPDATE FOR ALL DTK HOLDERS....

As a holder with Selftrade I spoke to Idit Mor today (who I have had dialogue with over the years). She informed me that around 300 individuals have already been paid out and that the cash is there to be claimed once the forms are returned. Below is a copy of the email she sent me earlier today.
She informed me that they are very keen to get the process completed and to pay everyone out as quickly as possible (I did ask if it would be ok for me to relay this to you guys and she was keen I did so).
I have today sent a complaint letter to the chief executive of Selftrade to try and speed up the situation because it is beginning to get on my nerves....


From Idit:
I did place a call to their corporate actions department. They confirmed they are handling the cash claims on an ongoing basis and are not waiting for all forms to come in at once. They are however transferring the forms on to their custodian, who in turn submits them to the paying agent, hence, I assume, another possible cause delay.

Did you at all receive and sent in your tax forms?

As I said, we run a very structured process, whereby cheques are issued twice a week against validated forms.

Do let me know if you have further questions or if I can be of any assistance,

[glluckett2] 07/5/2009 11:39

As the person who started off the 'forms' discussions, I can tell you that my completed forms were returned to my stockbrokers (Barclays) well before their deadline date, which I think was 24/04. Having heard nothing further I emailed them several days ago and this morning have received a response which merely states 'a date for receipt of funds has not been confirmed, we will write again when we receive further information'.
I am responding to the writer of that email asking him to contact either the company or the registrar of DTK to get some further information.
I will keep the thread informed.
GLL

[taylor20] 06/5/2009 19:56

I suspect I received the same forms as HOLTS (from Selftrade), one for Declaration of Status for Israeli Income Tax Purposes and One for Declaration of Controlling Interest (or not).

Still no money yet, but then I'm lucky if I can log into my account these days!

[jadeticl] 06/5/2009 19:45

Has anyone (who is keeping quiet) received money yet into a nominee account?

[elmfield] 06/5/2009 18:42

my first lot were pasport info and questions, second lot were two pinf forms and A white one from registrar,
hope that is all done and dusted but I am not holding my breath.

[holts] 06/5/2009 18:32

Thats appauling , I think you need to stir some pooh.

[alexbroadbent] 06/5/2009 11:30

You guys should count yourselves lucky! I waited 2 weeks for a response from HSBC and finally got this:

"Our custodians have been in touch with the company registrar who will forward any relevant paperwork to us for your completion. At this stage we do not have any further information for you."

[holts] 06/5/2009 08:46

did you get two sheets in the first place , slightly different but requesting similar info elm ?

[elmfield] 05/5/2009 20:33

I have filled in one lot with passport information etc and blow me down am getting another batch of formes which also need to be signed and returned before the registrar will pay out the money!

[holts] 05/5/2009 20:23

selftrash , received my forms on the 23rd , took 5 days to acknowledge that , and am not at all happy , the opportunities to squander my cash are passing , but as you say taylor this rally was not nessecarily on the cards, I bet they are accumulating all the forms before sending, I hope I am joking.

[taylor20] 03/5/2009 21:47

Yes, I could not understand why people weren't taking the opportunity to make that guaranteed 10% that was on offer in the closing days of the bid. Now I can see why!

To be honest though around the time that they delisted I don't recall that it was so clear that the market was going to recover so strongly.

[jadeticl] 02/5/2009 20:22

I received a letter from Selftrade dated 16th April, but posted on 21st April (where was it meanwhile?), and arrived to me 23rd April. The FORM that needed to be completed was enclosed. I completed and returned to Selftrade on same day (23rd April) by first class post, asking Selftrade to tell me when they received it and what they will do with it. Replied 25th April to say 'yes we received form'and 'sending off to appropriate authority'. Still no word or money. As was said above, getting 209p in the market 2 months ago now looks to have been the smart move. I could have bought BP. for 425p and good divi, or SFR for 135 and huge divi. Now I would have to pay 485p for BP and 218p for SFR--that is if I had this money. What a mess.

[taylor20] 29/4/2009 12:05

Selftrade confirmed receipt of my forms today. One step closer...

[hoveite] 28/4/2009 09:02

If you are with Sippdeal/James Brearley check your email. They emailed me the forms on Friday 24th April.

[holts] 28/4/2009 08:37

first nominee holder to get cash wins the cigar , being with selftrade I do not think I will be having a smoke; so this is the electronic world where it is all more efficient , ha !! The only purpose of electronic it is to make it traceable for the tax man.

[funchalman] 26/4/2009 20:06

thanks for that hirani2 - yes i thought you might have had share certificates,alas those of us who have nominee accounts have to rely on other people to move quickly and also to get it right.it will be interesting to see when the first nominee account holder actually gets paid.

[hirani2] 26/4/2009 17:05

I held my holding in share certificate.

[elmfield] 26/4/2009 11:08

So we have a chance of some money soon, i am afraid that a lot of smaller companies have already come off lows, could have done with the money a month ago!
The question is are we going to repeat the 1929-1931 market moves? who knows, but I am not rushing. I quite like a few stocks but at prices 20% below today's I liked them more!

[funchalman] 26/4/2009 10:39

hirani2 ,did you hold your dmatek shares in a nominee account or did you have share certificates?

thanks

[hirani2] 25/4/2009 18:41

I have received my cheque today without any deduction, looking to invest this into something else any suggestion ?

[elmfield] 23/4/2009 18:54

Agreed,
did forms today as well and yes you need to sign them and tick boxes, Idit( DTK company sec) RECKONS THAT IF YOU DON'T FILL THEM IN TAX WILL BE DEDUCTED and golly only knows what you will need to fill in to reclaim that!

[littleweed] 23/4/2009 14:09

Forms completed. Repetitive and intrusive. Replying 'why do you need to know that' probably wouldn't help though.