Raven Prop P Discussion Threads

[pauldaviesuk] 23/2/2023 16:36

You won't believe this . . . . HSBC Investdirect transferred my delisted RAVP shares from the ISA Account to the Investment Account on 29-Jun-2022. They then transferred them to Link Group on 30-Aug-2022. Link Group say that the Record Date for the March Dividend was 18-Feb-22, so they don't have the responsibility to pay our Dividends and Interest amounts for the deferred March 2022 payment as they didn't have the shares !!!!!

FFS - is this a case for the Ombudsman??

[pauldaviesuk] 23/2/2023 15:53

@DrRadcliffe ref: #2258 and #2259. I phoned Signal Shares yesterday, hence the post #2254. I'm back on the phone to them at the moment and they "have to check back with their Supervisor . . .", which they are doing at the moment whilst I am holding!

[rahosi] 23/2/2023 14:15

Waterfall City #2253

Re:- Shocking service,im thinking about transferring, has anyone tried x-o as a broker

Have used XO (Part of Jarvis) for Regular & ISA holdings since 2012. Can only say good things. No 'subscription' charges and only £5.95 per trade.

[crm114] 22/2/2023 21:29

Thanks Neılyb for getting on Halifax's case .I'm with them and in limbo too . It seems if pretty much every other broker has paid they will eventually too.

[drradcliffe] 22/2/2023 17:59

Signal Shares are part of Link.

hxxps://www.signalshares.com/

[drradcliffe] 22/2/2023 17:56

pauldaviesuk, probably best to get in contact with Signal Shares the registrars. To receive any dividends they will need your bank details.

I received my dividend and interest on the day but that's because I'd already registered my address, email and bank details with them. I did this when I consolidated my various share certs last year. Signal are pretty good I've found.

[zangdook] 22/2/2023 17:50

If the dividend was restricted by sanctions it would not have reached the nominees. Once it's reached them, it's clear everything is ok, there's no reason for them to hold it back.

[igbertsponk] 22/2/2023 15:19

To all those whining, do remember that no financial institution wants to be complicit in sanctions breaking. So some will take longer than others to get the divi sorted. You've waited a year, grouching about a few more days isn't really sensible.

For info, I'm with Charles Stanley, and they sorted it instantly, benefits of a decent broker.

[pauldaviesuk] 22/2/2023 14:58

My wife and I each had our holdings of RAVP in HSBC InvestDirect - on suspension of the shares, they passed us certificates issued by Link Group. We each registered for electronic payment into our bank accounts - so far nothing received.

I phoned their (Link Group) helpline today to find out what's going on . . . . they've done nothing except to note that a payment has been made to them but they are having to contact their "Resolution manager" to find out what they have to do. This is not a satisfactory state of affairs!

[waterfall city] 22/2/2023 12:53

Shocking service,im thinking about transferring, has anyone tried x-o as a broker

[neilyb675] 22/2/2023 12:44

3 x phone calls to Halifax, apparently waiting a Senior Management decision. I have threatened the Financial Ombudman if they don't cough up.

[drradcliffe] 21/2/2023 17:52

Perhaps ask if you can get your RAVP holding converted to certificates? They did it for me willingly last year and didn't charge.

[neilyb675] 21/2/2023 14:16

Easier said than done, I have a very large portfolio (not boasting btw), a lot of holdings.

[montyhedge] 21/2/2023 14:12

Get your money, then change to Interactive Investor, cheap and in your account same day due.

[neilyb675] 21/2/2023 13:43

Halifax are a disgrace.

I phoned yesterday and followed up today. They have some information etc but no decision / action taken yet.

Its not for them to be ethical here. The payment has been made, other brokers are paying out - a precedent has clearly been set.

Its not their money, they simply act as middle men - and should distribute it accordingly.

[drradcliffe] 20/2/2023 22:01

Montyhedge, it's worth reading the January 2023 shareholder update. It explains what has been put in place. You'll need to register with the company via the website if you haven't already done so.

hxxps://www.theravenpropertygroup.com/

[tunley] 20/2/2023 22:00

SteMIS

I believe that the longest delay so far was getting sign off from Auditors.

Next,as I understood the last update, is that the Russian holding company of the SPV's is to relocate to the UAE. The UAE refuses to block Russian rouble transactions but also deals internationally in $, £ etc. Therefore, through the UAE banking intermediary ( or a Russian bank in UAE and most likely a few extra high cost legal and accounting snouts in the trough) loan payments will eventually make their way to Raven and then to us IF the yanks don't close this route down in the meanwhile.

I reckon 20 -30 months, all being well.

[stemis] 20/2/2023 18:57

The dividend comes from the sale of the interest rate caps so it's a one off. Until the situation with regard to rental income being effectively trapped in the Russian SPVs is resolved (either by release of the funds or some sort of sale of them by the Cypriot company that now owns them), there's very unlikely to be more dividends.

[montyhedge] 20/2/2023 18:52

Guys I know we just got a nice dividend, do you think we may get another one at sometime?

[tradertrev] 20/2/2023 15:48

Small added bonus that these dividends have come into the ISA accounts due to the xd date being before they were turfed out into ordinary accounts.

[zangdook] 20/2/2023 15:20

Their own t&cs say ten working days IIRC. I never heard it was a law though.

[waterfall city] 20/2/2023 14:38

Halifax said it was delayed due to technicalities but should be imminent as has to be within 10 days by law.