Raven Prop P Discussion Threads

[uncle_sam] 26/4/2023 14:07

Just got 2nd msg from AJ Bell, reversing yesterday's msg as a mistake. Stet.

[stemis] 26/4/2023 13:29

SteMis: If the shares have no value, surely Bell should be willing to arrange for you to have a share certificate in respect of your SIPP holding? Why not ask?

They do have value, although difficult to quantify. I doubt AJ Bell would do it. They won't allow in-specie transfer into an ISA for example. They offer a bed and breakfast, which involves selling the shares outside the ISA, buying them in the ISA and transferring the cash between the two. Amyway I'm happy with them inside the SIPP. If I could take them out I'd lose the tax shelter.

[cwa1] 26/4/2023 13:20

Further to our previous communication, we have received an update regarding Raven Property Group Ltd.

Please disregard the previous notification. Your shares in Raven Property Group Ltd have not been declared worthless and will not be removed from your account.

[dandigirl] 26/4/2023 12:40

SteMis: If the shares have no value, surely Bell should be willing to arrange for you to have a share certificate in respect of your SIPP holding? Why not ask?

[theinquisitiveone] 26/4/2023 09:52

Hi

I've had the same message from You as well and was very surprised.

May I ask some kind person to suggest the right buttons to push in an email to them to get them to stop this process? I'm not really sure how best to word it I'm afraid.

Thanks for your help in advance

[stemis] 26/4/2023 09:38

Mine sit in a SIPP so that's not possible

[kickingking] 26/4/2023 08:12

For reasons like this is why I had my shares transferred into certificate

[zangdook] 26/4/2023 07:49

That's what HL did, they saw that Leader Smart Holding, a Hong Kong registered company, had closed down, and assumed without checking that it was the same as Leader Smart Holdings, a BVI company. Telling someone their property is worthless and you will confiscate it is a very serious step when your whole business model depends on clients trusting you to hold their property, and the fact that HL and now AJB will do this without spending a few minutes making quite sure they have it right is disappointing.

In HL's case they never provided any evidence or even admitted to having made a mistake, they just quietly put the shares back after a long delay.

[stemis] 25/4/2023 17:39

I have the same message.

There is a company 'Raven Property Group Services Limited' (formerly Raven Russia Limited) which dissolved on 28 March 2023 but this is a company which has always been dormant since incorporation on 5 September 2018. The shareholder was Raven Property Group Limited, which is a Guernsey register company, which is the issuer of the pref shares.

AJ Bell have confused the two. I have messaged them.

[bobswest] 25/4/2023 16:55

I have suggested to A J Bell that they may care to check which company has actually been dissolved on the Companies House website!

It’s not RAven Property Group!

[glynnef] 25/4/2023 16:48

I have done as Zangdook suggests and asked for evidence.
It was not an email or other message.
It was a secure message I was able to read after logging in to my account, so definitely from AJBell I would say.

[drradcliffe] 25/4/2023 16:40

I think you have to question what AJ Bell have told you. Are you sure it's really from them?

[zangdook] 25/4/2023 16:35

There's nothing I can see about that on the Raven website. I would challenge it and demand documentary evidence in support of their claim.

I had a similar problem with Hargreaves Lansdown a few months back (with an unrelated company). It took me about five minutes to prove they had made a mistake but over a month before they restored my shares to my account, and they still haven't admitted they were wrong (They had confused two companies with similar but not identical names). Brokers are not infallible, far from it.

[glynnef] 25/4/2023 16:27

I got this message today from AJBell. Rather surprised!
The link does not seem to go anywhere.
Anyone else?

Raven Property Group Ltd has announced that the company dissolved on 28 March 2023.

As a result, your shares are now deemed worthless and will be removed from your account in due course.

To view the announcement, please copy and paste the link below into your web browser:
[...]

[zangdook] 18/4/2023 09:53

Woodford must be thinking he's dodged a bullet ;-)

[cwa1] 18/4/2023 09:52

Much obliged all

[zangdook] 18/4/2023 09:49

edit, snap

[stemis] 18/4/2023 09:47

Basically Quilter and insiders own a majority of the ords and prefs

PRINCIPAL PREFERENCE SHAREHOLDERS
(Updated as at 31 March 2023)
Fund Manager Number of Shares % of Shares
Quilter Investors 68,518,752 31.6
Raven Property Group Directors, Raven Holdings Limited & EBT 52,178,313 24.1
New City Investment Managers 9,096,228 4.2
Interactive Investor 6,099,546 2.8
Hargreaves Lansdown Asset Management 5,773,348 2.7
Progressive Capital Partners 5,052,682 2.3
Jupiter Asset Management 4,766,438 2.2
Raven Property Group Ltd Related Parties 4,566,992 2.1
Ravenscroft 4,016,279 1.9
CG Asset Management 3,034,712 1.4
A J Bell Securities 2,909,750 1.3
Brooks Macdonald Asset Management 2,869,965 1.3
Halifax Share Dealing 2,501,033 1.2
Canaccord Genuity Wealth Management 2,370,267 1.1
Lion Trust Asset Management 2,370,000 1.1

PRINCIPAL ORDINARY SHAREHOLDERS
(Updated as at 31 March 2023)
Fund Manager Number of Shares % of Shares
Raven Property Group Directors, Raven Holdings Limited & EBT 162,145,267 28.6
Quilter Investors 132,916,603 23.5
Schroder Investment Management 62,131,178 11.0
JO Hambro Capital Management 46,170,195 8.2
Progressive Capital Partners 19,554,968 3.5
Hargreaves Lansdown Asset Management 7,606,254 1.3
Legal & General Investment Management 7,109,445 1.3
UBS 6,227,514 1.1
Raven Property Group Ltd Related Parties 5,869,520 1.0

[zangdook] 18/4/2023 09:45

It says 566,493,370 RAV and 216,634,485 RAVP in issue.

RAVP hasn't changed, I don't have a record of RAV.

edit: also the principal shareholder lists have been updated.

[cwa1] 18/4/2023 09:43

Any chance of posting a synopsis here. I've been indolent and haven't registered(Nominee holding) :-(

Cheers

[rahosi] 18/4/2023 09:34

Securities Information has been updated to 31/3/23

[pbaker] 23/3/2023 20:26

I dream of getting the last 3 dividends of 2022 dividend. Ove £19000 of dividends outstanding for my family, everyone had some and i had far too many.

[igbertsponk] 23/3/2023 11:23

I'm very glad the warehouse won the ESG award... I'm sure they're very happy that they won't be using much gas, as Russia hasn't much spare.....

[lebon] 23/3/2023 11:18

@pauldaviesuk, @santar
after escalating to a complaint, I have at last been credited with my divi by FirstDirect as of 21.3.23. so HSBC dividend / custody departments must now have finally located the divi and hopefully you guys should also now have yours too.