Matra Petroleum Share Discussion Threads

[johnnyreg1] 30/12/2016 13:51

Hi all, I'm in trouble, could anybody help please?
i had my Matra PLC shares throgh my home banking from Italian bank, they know nothing about Matra actual situation and cannot answer me yet even about "where" my shares are located (they spoke unofficially about Dexia...) , they only told me they traditionally don't deal with Stockholm market.
Do you think I need to do anything to have my shares converted?
In my situation I am unable even to vote to agree the scheme (computershare ask me my shareholder reference number to identify my shares, but my bank after 4 days is not able to tell me even that).
Moreover I guess that i will need to transfer my shares, could you recommend any broker? I am trying to fill the forms for share centre as Superted recommend but seems the procedure take some time, and it's not clear to me what will happen to my shares, wherever they are now, after january 10th indicated as the last day available to transfer shares as stated in official Matra document.
I am not good with english technical/finalncial terms, and this is not helping too, so if anybody can help ... thanks

[bunishasha] 30/12/2016 13:44

Oh I thought we still need Halifax to post the docs for voting?

[nedhammers1] 30/12/2016 13:40

So there's nothing to do yet until they have been accepted to list on the Stockholm Stoke exchange, and as Halifax have said there is no guarantee yet, but would be amazed if this did not happen. Therefore the only thing needs to be done is transfer my shares to a broker that deals on the Swedish market. Thanks for the info on that Hilly and Ted. Dare I ask, are you feeling a bit more positive about new Matra Ted?

[gilly9] 30/12/2016 13:37

I am now informed by Saga Share Dealing, that Equiniti, who now act on their behalf(they have now stopped using Barclays Stockbrokers) will be able to offer cdi so it appears that i do not need to change brokers,but will get full confirmation on Tues/Weds!!!!this after i registered with the Share Centre!!!! will keep peeps informed, ps Saga still have had no notification off of Matra regarding the new arrangement nightmare

[johhnyhotrocks] 30/12/2016 13:12

This from the Halifax...


Scheme of Arrangement and Re-Domicile.

5 New Matra Petroleum AB shares for each Existing Matra Petroleum PLC share held.

Important Information & Other Key Dates:

On 23rd December 2016, the Company announced proposals to change the Group's corporate structure by putting in place a New Swedish incorporated company (New Matra), which will be tax resident in Sweden, as the parent company of the Group. This is to be effected by way of a Scheme of Arrangement.

Following implementation of the Scheme it will be the intention of New Matra to seek a listing for its shares in Sweden. The Board believes that establishing a new holding company incorporated in Sweden and obtaining a listing will benefit the Group and support its development. A listing will also provide a market valuation for the Company's shares.

Please note, however, that the proposed listing is subject to, amongst other things, the approval of the relevant listing authority and market conditions. There can be no assurance that such a listing will be obtained within any time frame or indeed at all.

In the event that the Company obtains a listing in Sweden we would be unable to facilitate trading in New Matra shares via our sharedealing facility. In order to trade New Matra shares you would need to establish an arrangement with an alternative broker who would be able to facilitate trading of New Matra shares in Sweden. Should you wish to do this, please contact our call centre with the details of your chosen alternative broker and we will facilitate the transfer of your shares to them at no cost to yourself. Please be aware that you will need to have contacted your chosen broker in order to complete their necessary transfer process prior to contacting our call centre.

The Scheme is subject to approval at a Court Meeting and shareholder approval at an Extraordinary General Meeting both to be held on 12th January 2017. The Scheme will be subject to further Court Sanctioning at a Court Hearing to be held on 16th January 2017, and is anticipated to become effective on 18th January 2017.

New Matra shares are expected to be credited to accounts within 14 days of the Effective Date. We will, however, notify you when the New Matra shares have been credited to your account.

As we are not qualified tax advisors we are unable to advise you on any tax implications. Should you wish to find out further information please contact a tax advisor.

Should you wish to find more information about the Scheme, please visit hxxp://matrapetroleum.com/m/?news=posting-of-court-meeting-and-egm-meeting-notices-and-proxy-forms.

[looneytune] 30/12/2016 11:54

Coffee & biscuits are already built into the share price - lol

[calmtrader] 30/12/2016 11:12

super happy to get you a coffee..see you there

[supertedsmith] 30/12/2016 10:59

Calm I is coming to EGM.You owe me a coffee of sorts .

[supertedsmith] 30/12/2016 10:29

Gilly Good idea to also write to Barcs and tell them are transferring in case of any bureaucratic muddles. Haven't got their email but you should call them and inform them verbally and also get email to have written trace .They will acknowledge within two days max .

[gilly9] 30/12/2016 10:14

You could try share center kindly recomended by Super read his post 13789 for more details, i have been in contact with them very straight forward

[nedhammers1] 30/12/2016 10:10

Gents, I've spoken to my Broker Halifax online, they have told me that I do not have to do anything immediately if I do not intend to trade. They will be exchanged I think I get 5 shares for every one I currently hold if the resolution is voted for on the 12th. My online account will be updated to reflect the new shares. However , as Halifax do not deal with Stockholm stock exchange I would have to transfer them to a Broker that does, to be able to sell them. He said I do not have to worry about a CDI it's a technical term for CREST . As I'm away for 15 days on a cruise from the 6th January, I was worried that I had to do something urgent during that period, but apparently not. Any views or difference of opinion are welcome.

Any suggestions on which broker to use to transfer my shares that deal on the Stockholm market please?

[gilly9] 30/12/2016 08:59

Super, all set up with Share Centre.!!!!!!

[budgetbond] 30/12/2016 08:44

From the-international-investor.com

CDIs can be held in an Individual Savings Account (ISA), subject to the underlying stock trading on a recognised stock exchange, in line with the ISA rules. Dividends on CDIs will be subject to the same withholding taxes as dividends paid directly. CREST is a Qualified Intermediary, meaning that it can pay US dividends at the lower rate due under the US-UK double taxation agreement, if your broker is set up to take advantage of this, but reclaiming tax on other dividends will be your responsibility, as usual. There is no stamp duty due for trades in most CDIs.

[budgetbond] 30/12/2016 08:39

barrie16 - if you have paper share certificates, my understanding from the announcement is that Computershare will simply issue you new share certificates for the new Matra Group.

So I dont think you have to do anything - unless anyone else has a different view?

[budgetbond] 30/12/2016 08:37

fbrj - I agree with you, Eric Forss coming on board is an extremely interesting development. He's another really big player with access to funding, contacts and opportunities. At WSR Maxim and Eric grew the company into a £1bn business in 4 years on the back of a rising oil price which is the market environment they have again.

You've hit the nail on the head by describing what's going to happen next as unpredictable because we dont know how big their plans are - what we're in the middle of now (i.e. preparing for the listing) is not a recent decision. If we roll the clock back, we had the reserves value upgrade in June, the NewCo incorporated in Sweden in October and the listing notification in December. The planning involved to get to this stage takes months so my guess is that the listing was planned around June/July. The next phase of the NewCo project has already been planned - we just dont know what it is yet.

calm - I'll be keeping some cash free for sure!

[gilly9] 30/12/2016 08:00

Thanks for your help,greatly appreciated looks like i owe you a couple of cold ones!!!!

[supertedsmith] 30/12/2016 07:55

You need to contact

Matt Goodall - [e-mail]
Transfer Team Manager
phone [phone]
web www.share.com

I registered on line in matter of moments- downloaded and filled in transfer forms and sent off .
Even if takes thirty days and shares in limbo once process started will go through and save you time if need be .
I am sure Barcs will send out circulât next week .

[gilly9] 30/12/2016 07:37

Super, once again thank you very much, its true i did speak to a lady who went and asked some one,and came back and said no!!!! how ever i will ring again this am and ask for the corporate dept that you spoke to Equiniti knew nothing about this as of yesterday, however i was told that it could take 30 days to transfer the shares to a company that deals in cdi, i do have all the contract notes here if that will be of any help to me,i will keep peeps informed.

[tammy14] 30/12/2016 02:39

Hi guys , I also have shares in SER , and MOIL anyone have any information about them plez kindly advice me ,coz them two company also gone from AIM, Thanks in advance

[fbrj] 30/12/2016 01:06

Budget - re your 13764 that is exactly my interpretation too.

I've MTA holdings all over the place - Barclays, HL, Selftrade (now Equiniti) and iii. It looks from what others have found so far that Barclays is a non starter. I'll post as and when I find anything useful to add.

Budget/calm - I posted earlier re the involvement of Eric Forss as I though that was a really interesting development. We could be in for an exciting, if unpredictable, year ahead!

[dougal18101947] 29/12/2016 22:06

I rang Halifax yesterday and they have not been notified yet about Matra but as soon as they are they will inform me via account notification. They don't deal in the Stockholm market but informed me Hargreaves and Landsdown do. I asked if my shares are held electronically and saFe as reading on here I mentioned that we have to the 18th January subject to the EGM 12 Jan to move them to a broker. They said they are safe and wait for their Notification. Still wary but that's what the Halifax say.

[calmtrader] 29/12/2016 20:10

Budget it looks great ..seems very well connect and they know each other very well..2017 s/be very interesting...make sure you have some spare cash when they list to buy a few more!!

[barrie16] 29/12/2016 20:02

Hi all, a question that must have been asked before, sorry! I hold a certificate in matra shares do I have to do anything? thanks in advance... Barrie

[budgetbond] 29/12/2016 19:51

calm, what do you make of Eric Forss coming on board as a Director and investor?

I realise that Matra needed a minimum of 3 directors to meet the listing requirements but he's certainly an interesting addition to the team, especially based on his previous involvement with Maxim in WSR

[supertedsmith] 29/12/2016 17:41

Gilly

This is from sharecwntre website

International shares traded in sterling
As we don't deal directly with the country of origin, we use CREST Depositary Instruments (CDIs). CDIs act as an envelope in which stocks can be traded in a currency which is different from their currency of origin

And this is another email I got today from them

Hi again,

We will certainly be able to hold the new shares as they will be held in Crest which is where we are holding the existing shares. As for trading, we are confident that we will be able to trade them, although will not know for definite until they are trading. We are currently able to trade in other stocks that are listed on the Swedish stock market that are held in Crest so there should be no reason why we can’t also trade these. Unfortunately we cannot give a more definitive answer than that at this stage.


Seems a pretty definitive yes

So ignore the man who answered the phone and ask to talk to transfer dept