Equiniti Share Discussion Threads

[vacendak] 17/12/2021 16:11

Got paid today. 180p per share as planned.

The whole experience from IPO, top up and collecting the divi when we used to have one has turned out for me to a total of 9% gain TR over roughly six years.

In other words "I should have put the money in a tracker". :(

[vacendak] 05/11/2021 09:22

And the state of New York has agreed, so now we are waiting for this:

"Whilst all of the Regulatory Conditions have now been satisfied, completion of the Acquisition remains subject to the waiver or satisfaction of the remaining Conditions set out in paragraph 3 of Part 1 of Part IV of the Scheme Document including (but not limited to) the Court sanctioning the Scheme at the Scheme Court Hearing."

[vacendak] 04/11/2021 13:59

So the FCA has approved.

The last hurdles are these:

"Completion of the Acquisition remains subject to the waiver or satisfaction of the remaining Conditions set out in paragraph 3, Part 1 of Part IV of the Scheme Document, including the approval of the New York State Department of Financial Services and the sanctioning of the Scheme by the Court at the Court Hearing, and further terms as set out in the Scheme Document."

[vacendak] 17/8/2021 09:54

Usually one transfers their holdings at opening time with the new provider. I did that when moving from F&C/BMO to Equiniti.
I did not know it was even possible to keep an old/inactive stock and share ISA. I know it is possible with "old" cash ISA.

More than one provider, more fees to pay... :(

[on target] 16/8/2021 19:24

Opened a new ISA with a different broker this tax year with a view to spreading the funds around but not sure I'd want to transfer my eqi account to that particular broker. Anyone know if you can both open a new ISA and transfer an existing ISA to a different broker in the same tax year?

[on target] 16/8/2021 19:22

Already noticed a deterioration in customer service - send a message about the website not working properly, not being able to make trades etc. and they might reply 1-2 days later when the problem has gone away. Wonder if they've outsourced it to a generic call-centre somewhere?
They don't handle fill-or-kill orders properly as well which was also a problem with equiniti - instead of killing it sometimes the order ends up stuck in the ether where you can't manually trade that stock (for a sell order) for the rest of the day but you know it's been cancelled and should have been killed like you specified.

[on target] 16/8/2021 19:09

Not true in my case either - I was previously with Equiniti before being transferred to eqi, but just a personal account and nothing to do with SAYE etc.
It just doesn't make sense why a business would get rid of some/most accounts and also not take any new customers, but keep a few accounts anyway. Surely they are going to slowly wind down this side of the business and definitely not invest in it, suggesting a deteriorating service over time can be expected. But then why not just transfer every customer to iii when they did the rest? Very strange.

[vacendak] 16/8/2021 16:40

Same here, a few weekends ago, they told me the system would be offline to migrate more people but was told that nothing would happen to my account.

I think I need to review my options to find a platform with similar pricing because one day they will likely tell us that we are being transfered somewhere else and this could end up being more expensive.


Their FAQ says:
"The customers who are staying with EQi are those who have joined through Equiniti’s corporate relationships, such as SAYE schemes, and going forward EQi will not be open to new customer sign-ups"
This is not true in my case. I joined years ago because they were the registrar for the physical/paper shares in Prudential I held at the time and I wanted to digitise them. Still, I have yet to be bumped to Interactive Investors.

[on target] 16/8/2021 14:16

Have EQN offered any explanation to shareholders of why they have kept some Eqi share dealing accounts (including mine) but are no longer accepting any new customers? Getting a bit nervous as a customer in the absence of any explanation for this seemingly strange behaviour.

[vacendak] 28/6/2021 16:38

It looks like the fat lady has sung and we shall stay at 180p plus or minus a few farthings until the deal is done.

[mattboxy] 21/6/2021 14:10

And yet still we're above the offer price???

[mattboxy] 21/6/2021 14:10

21 June 2021 Recommend Cash AcquisitionofEquiniti Group plc ("EQ")byEarth Private Holdings Ltd ("Bidco")(a newly-formed company owned by fundsmanaged or advised by Siris Capital Group, LLC ("Siris")) Publication of Scheme DocumentOn 27 May 2021, EQ and Bidco announced that they had reached agreement on the terms of a recommended cash offer to be made by Bidco for the entire issued and to be issued share capital of EQ (the "Acquisition"). It is intended that the Acquisition will be effected by means of a scheme of arrangement under Part 26 of the Companies Act 2006 (the "Scheme").EQ and Bidco are pleased to announce that the shareholder circular relating to the Scheme (the "Scheme Document") is being sent, or made available, to EQ Shareholders today. The Scheme Document sets out, amongst other things, a letter from the Chair of EQ, the full terms and conditions of the Scheme, an explanatory statement, notices of the Court Meeting and General Meeting, an expected timetable of principal events and details of the action to be taken by EQ Shareholders.As described in the Scheme Document, the Scheme will also require the approval of EQ Shareholders at the Court Meeting and the passing of a special resolution at the General Meeting, and then the approval of the Court.The Court Meeting and the General Meeting to approve the Scheme (and the steps contemplated by the Scheme) are scheduled to be held at 11.00 a.m. (London time) and 11.15 a.m. (London time) respectively on 19 July 2021 at the offices of Linklaters LLP, at One Silk Street, London EC2Y 8HQ.

[vacendak] 03/6/2021 14:45

From the plethora of RNS since the offer was made public about people buying in, the game may not be over indeed. Let's hope this is the case anyway and the current 180p is a floor.

[mattboxy] 03/6/2021 14:12

Up again someone must know something

[vacendak] 02/6/2021 16:47

I have been made aware formally of that offer by my ISA provider. Same as we have read so far: Bidco, advised by Siris, is offering 180p.
This would happen in Q4 of 2021.

[1knocker] 02/6/2021 12:25

I sold out at 181.5, so that should ensure that there is a rival bid!

[mattboxy] 31/5/2021 08:49

I guess the silence is answer enough!

[mattboxy] 28/5/2021 19:20

Has anyone heard of other bids or interested parties? Why else are above bid??

[schofi2] 27/5/2021 11:19

Someone is buying above 180p I wonder why. Hmmmm.

[vacendak] 27/5/2021 10:15

Recommendation to accept a 180p cash offer.



That would make me a few pence per share in the black. I would have expected more after getting in at IPO time, adding on the way up and holding for all those years, but 180 is better than 170 I guess.

Still, had I known, that investment would have been put to better use elsewhere. :(

[yf23_1] 28/4/2021 09:40

I'm out with a profit on the worst share in my portfolio. Not waiting to see if Siri like what they see in the books.

[vacendak] 28/4/2021 09:09

Yippee!
Shall I say "350 by Christmas" as I did years ago? :)

[pete160] 28/4/2021 08:36

The market's still not going mad on it, so giving the impression that other bidders are not necessarily going to come forward.

[yf23_1] 28/4/2021 08:15

Hoorah, Siris 180p bid, subject to due diligence.

[slicethepie] 22/4/2021 12:02

Agree, this could be a great business given their customer base but they seem totally inept. My only dealing with them has been via Selftrade where they recently upgraded their software system and the result has been good only for them to then sell a chunk of the business to interactive active. In my case they are splitting my Sipp and isa accounts up which is a real pain.