Hammerson Share Discussion Threads

[davvero] 30/3/2021 10:29

A FIDELITY message confirmed they will NOT allow scrip dividend... No reason given is different from brokers who allow it (HL, III, HALIFAX, IWEB, BARCLAYS,AJBELL, etc etc)
I am going to the OMBUDSMAN...I am leaving FIDELITY...

I URGE ALL investors/traders to Demand Insist fight and complain to make scrip offers a basic broker service. Unless scrip is recognised as a basic service we will keep losing money rightfully ours.

[davvero] 29/3/2021 23:04

@nb92... thanks, very useful

[noujay] 29/3/2021 11:21

When's the record date?

[davvero] 29/3/2021 10:43

Initiated formal complaint against FIDELITY for not allowing the scrip dividend (see previous posts for more info and also the London South East board)...
It feels like dealing with a financial dinosaur... I am out of FIDELITY as soon as the complaint is done with

[nb92] 28/3/2021 19:44

To calculate how many shares you will receive it is 2p x number of shares / 37.48(scrip ref price). And then multiply by 0.8 if its outside an isa or a pension. So say you have 10k shares in an ISA that is 2x10,000 = 20,000 divide by 37.48 = 533.617. So you'd get 533 shares plus 23.16p for the ~0.6 left. You would have gotten 20% fewer shares if not in an ISA.

[kibes] 26/3/2021 14:17

nb92 - I am still baffled by the withholding tax issue. As I have shares in an ISA, will withholding tax be deducted? If paid gross I should get 5.33 new shares per 100 or net 4.26 per 100. So which will I get?

[nb92] 25/3/2021 02:24

@1hughb The 20% withholding all relates to the whole REIT corporate tax exemptions. If you hold HMSO or any REIT in an ISA or pension you're essentially getting the rental income free of taxes. Whereas outside of them HMSO pay no corporate tax but to the person it is a property income distribution (pid) and is taxed at normal income tax rates (20%), however other than waiting for you to pay it, the taxman has it taken out before you get it.. ie withheld.

[researchcentre123] 24/3/2021 14:38

Wish I could say yes....43p looks good today! Still post-lockdown we will see-still got high asset value and I like the management now. You thinking of going back in or wait and see?

[davvero] 24/3/2021 10:38

1hughb... Not sure... but yours seems a straightforward question, you could phone Hammerson they should give full details about it... My shares are ISAS so tax free

[1hughb] 23/3/2021 21:31

I am curious if anyone knows - as I understand it and I may be wrong, if you get the shares, they withhold the tax if you pay tax, at 20% in the UK. So does that mean they sell those shares on the market, or is there some other deal going on?

[davvero] 23/3/2021 15:08

@bdbd11... Thank you, again very much obliged, great help!

[bdbd11] 23/3/2021 13:22

Davvero, Most of my interaction with EQI was over the phone - I did send one message by secure message - see below. However, it's really best done in your own words and pertinent to your own circumstances. The main issue is that they know you are serious and WILL not stop until you receive the service you would expect from any Stockbroker:

Upon enquiry both by phone and message I was told that XXX had decided not to offer the Hammerson scrip issue alternative announced on XXXX 2021 (see LSE Announcement)

This is wholly unacceptable and I insist that you process the scrip issue - DEADLINE FOR ACCEPTANCE IS XXXX 2021.

Not offering the scrip will result in significant financial loss as it is valued at approx 10 times the cash alternative.

Please ensure that it is dealt with immediately. If it is not offered it will result in a formal complaint, which will be taken to the ombudsman, if necessary, If I am left out of pocket if XXX fails in it's duty as my Broker

[davvero] 23/3/2021 12:53

bdbd11..... would mind printing here or sending to me the letter of complaint you sent to your broker? Obviously after erasing your personal details... I could then fill it in with my details and send it to FIDELITY and IWEB... I could also, with your permission, print it in other boards, as there are a huge amount of small investors very upset and angry about this (and rightly so)... who knows, it could spark a revolution if we all complain

[nb92] 23/3/2021 01:28

Scrip divi was taken up by 80% on the prev (was mentioned on full year webcast). They expect a similar figure this time around. As far as I can tell, it is madness to take the cash. You're essentially giving away your shares for about a tenth of their value. A very cheap way of increasing ownership percentage for Lighthouse, APG and other holders.

[flyfisher] 22/3/2021 17:19

It is the sets uncrossing trade, both a buy and a sell.

[researchcentre123] 22/3/2021 16:52

Block of 5m shares bought at close....I think big investors like the share, small shareholders panicking....

[researchcentre123] 22/3/2021 16:45

Morgan Stanley sold a few shares at the highest prices- why not if you've made a quick profit?- and some small investors start to panic and started selling. Now MS seem to be holding as prices have dipped too much - if they dip much more I wldnt be surprised if they start buying again. And of course pple are a bit uncertain with european 3rd wave and how effective the vaccine is against new variants- altho latest seems to be working ok. This stock has the resources to survive - some good covid news and it'll jump up again imho reapproaching it's 82p net asset value. It's really a bet for those who think the UK will do ok compared to those who think it's the end of the world.

[topnotch] 22/3/2021 15:51

Price now below 32p - down 10p off highs only last week

Something doesn't smell right...

[gavin666] 22/3/2021 14:57

iweb elected for the scrip for all shares in the nominee account last time. I've heard that they will be doing so again but won't be contacting shareholders until after ex-divi. So we won't know 100% for sure until it's too late to do anything about it.

[davvero] 22/3/2021 14:35

bdbd11.... I don't feel free to send you a thank you note, I feel very much obliged to thank you!.... Yes, i will follow your suggestion.... It's crazy what is going on. Hammerson is also very much guilty here. CAlling it ALTERNATIVE SCRIP dividend.... Taking the p333 and messing up smaill investors... What's bloody alternative about it if the greatest majority of us cannot opt for it?... taking us for fools...

[bdbd11] 22/3/2021 13:29

davvero. Yes, put in a complaint. Explain the financial loss you will suffer (try and work out a figure). Tell them if they do not take up the scrip you will ultimately take the complaint to the ombudsman service (just a referral will cost them £650 i believe is the current figure) so it will be cheaper for them to do the small amount of work required than to foot the referral cost and also pay you to put you back in the position you should have been had they done their basic duty as a stockbroker. I did this. It worked. Incidentally I have just heard from EQI who will be taking up the scrip this time. ps any hmso/EQI holders feel free to send me a thank you note :)

[davvero] 22/3/2021 10:17

bdbd11.. Help!... FIDELITY and IWEB do not accept scrip.... Can I do anything to force them to?