Metal Tiger Share Discussion Threads

[bagpuss67] 02/3/2023 08:24

Company expects the AIM Cancellation to take place at 7.00 am on 31 March 2023. Following the AIM Cancellation, the Shares will remain admitted to trading on the ASX. Shareholders who currently hold their Shares via the UK register will automatically have their holdings switched to the Australian register where they will be held as CHESS depository interests ("CDIs"), with each CDI representing one Share, providing a formal market mechanism enabling Shareholders to trade in the Shares through CDIs. Further details on how Shareholders will be able to effect transactions in the Shares through CDIs after the AIM Cancellation are set out in the Circular. In addition, prior to the AIM Cancellation, Link Asset Services will write to Shareholders with further information about this process and information will also be made available on the Company's website at www.metaltigerplc.com.

[charaxes1] 02/3/2023 08:22

It will be one UK share for one CDI so 1:1. My understanding is that all UK shares will be automatically switched to CDI'S. I am sure MTR will put these details up on their website.

[supercity] 02/3/2023 08:17

You would need to see the circular which should say whether the shares will be switched in a 1 for 1 basis which could potentially be an equivalent higher price than today or whether the value of the shares will be adjusted.

[bagpuss67] 02/3/2023 08:13

Am I right to say this is 18p on asx?

Does anyone know what happens to your shares if you do nothing. Do you end up holding an unlisted UK share?

[weaverbeever] 02/3/2023 08:12

I've been watching this for ages. Have been very tempted to buy in past few days after price drop. I agree its a bloody lottery. How on earth can you make investment decisions when stuff like this happens . Anyway. I hold some stuff on ASX it's easy enough to deal. Just check their market times compared to UK. Good luck to everyone.

[charaxes1] 02/3/2023 08:04

I don't think HL have the ability for investors to trade ASX stock. II certainly do.

[jdh1602] 02/3/2023 07:57

Let's see what Simon Thomson has to say, it's one of his! After 2 years, i'm still waiting to make a damn profit. FYI, IG Markets allow ASX trading, i'm on that platform.

[bagpuss67] 02/3/2023 07:55

Presumably it should level out between asx and aim and allow a relatively OK transfer between the two although of course a decent chance of losing money on that process as well as dealing fees

[kadvfn1] 02/3/2023 07:53

Do HL allow for asx trading?

[firestorm911] 02/3/2023 07:47

May buy some at 2p in two weeks' time for the dead cat bounce.

Regards,
F911

[charaxes1] 02/3/2023 07:43

It will be interesting to see if any market makers are short of MTR stock!

[tomboyb] 02/3/2023 07:35

Pretty poor -

[tebboc] 02/3/2023 07:35

Looks like they are opening at 9p a drop of 28% and that's just for starters. Another disgraceful decision allowed by the AIM casino lottery exchange

[charaxes1] 02/3/2023 07:33

The larger UK brokers do allow trading in ASX stocks. I have accounts with II which allow this without any problems. I do not see any issue with this. It allows greater flexibility in terms of investing. Less costs as there will be no need for a NOMAD, Broker etc... it looks as though MTR are looking at a Corporate investment which it would struggled to get through on AIM without it being designated as an RTO.

[cblandy] 02/3/2023 07:30

Thankfully, I am not too exposed here....but never expected this from such as MTR. Reputationally I think they may be shooting themselves in the foot by this action.

[bagpuss67] 02/3/2023 07:23

What a bunch of...!!

[supercity] 02/3/2023 07:18

Correct - no vote it's a done deal.

[tebboc] 02/3/2023 07:17

Most UK brokers dont support trading in Australian shares. Ridiculous decision. Let the carnage commence.

[cblandy] 02/3/2023 07:14

Source - Looks like we won't be able to vote against it according to their RNS;

"In accordance with the notes to AIM Rule 41, as the Company will maintain the
admission of the Shares to listing and trading on the ASX, being an AIM
Designated Market, Shareholders’ consent in a general meeting of the
Company, which would otherwise be required pursuant to AIM Rule 41, is not
required for the AIM Cancellation. The Company expects the AIM Cancellation to
take place at 7.00 am on 31 March 2023."

[source] 02/3/2023 07:08

Ridiculous delisting proposal. Shareholders need to vote against. This silly idea will force many holders to sell their holdings (& at unwarranted losses down here too!) as many uk brokers won't have an Australian shareholder facility. How the directors have the cheek to propose this is shocking. Completely failing their fiduciary responsibilities!

[shieldbug] 28/2/2023 10:37

Hopefully they have learnt some lessons from last year. If they do its a bargain...

[wsm812] 28/2/2023 09:40

I bought more on this dip, it is showing as a sell on here though....maybe the rest are also?