Share Share Discussion Threads

[cfro] 30/6/2020 17:51

Must be the last day of dealing today then, but i thought it was last Friday. Thats when my holding went "non tradable".

[nickjoseph] 23/6/2020 20:54

Plus no longer trade at £5.25 but have to pay £7.50 which seems unfair as the takeover has not gone through properly.

[gateside] 23/6/2020 20:08

Agree don't think SHRE have handled this very well, sold my 500 shares at 31p last week as i was given similar advice.

[cfro] 23/6/2020 18:05

Nope, not really moved anywhwere Nickjoseph.

As to the risk pointed out by jamielein above, i dont think there is any risk to small shareholders who hold less the 1196. I have been told that you will get the 41p in cash. So i think worth holding on for imo.

If need be ii will provide the additional cash over above the £16.2m to satisfy the payments if they need to.

We shall see but i am holding on with my small holding and see what i get. Not worth selling it.

[nickjoseph] 23/6/2020 16:23

You don't post much these days CFRO always found you're posts good on ADVFN. Have you moved elsewhere?

[gateside] 23/6/2020 16:13

It's because of that uncertainty that I sold my remaining shares. Didn't want the risk of being of being stuck with ii shares I couldn't sell. I'd rather have the cash, which I now do.I trade infrequently, but have to pay the £24 per quarter as charging 1% per trade leaves you with absurdly high fees for any trade of a higher value. Have been a customer for many years, but will most likely go to either AJ Bell or HL.

[jamielein] 23/6/2020 16:04

One risk to that strategy:

However, if the total cash required to satisfy the cash consideration (including under the proposals to be made to participants in the Share plc Share Schemes) and the fractional entitlements to New ii Shares exceeds £16.2 million, ii may elect, at its sole discretion, to either (i) provide additional cash to settle in full such fractional entitlements; or (ii) scale back payments of cash in respect of the fractional entitlements to New ii Shares pro rata to the fractional entitlements and the remaining fractional entitlements to New ii Shares will be aggregated and issued to a nominee (the "Nominee"). The Nominee will hold the New ii Shares issued to satisfy such fractional entitlements to New ii Shares (the "Fractional Entitlement Shares") for the benefit of Share plc Shareholders entitled to the Fractional Entitlement Shares. Such Share plc Shareholders will be entitled to receive the proceeds of the sale of the Fractional Entitlement Shares when they are sold, which is expected to be in connection with any future sale or initial public offering of ii. In addition ii or its nominee will have the right, but not the obligation, to purchase the Fractional Entitlement Shares at the Agreed New ii Share Valuation for a period of 12 months from the Effective Date.

So you could still end up with a proportion of an unlisted share in ii group.

[cfro] 23/6/2020 15:40

Yes, i've had clarification that if you hold less than the 1196 then you get 41p in cash.

So a 1000 shares you would get back £410.

So for those that dont hold any shares might be worth buying a few to get some free money on offer! (so for instance you could purchase 1000 shares for currently 27.5p or £275 - no dealing charges - and get back 41p a share or £410 a profit of £135!)

[thamestrader] 23/6/2020 15:40

I am moving, but not solely because of the transfer to ii - I don't think that will have any detrimental effect for a while yet. But as I move more and more of my holdings into my ISA (held elsewhere), the sharecentre's frequent dealing package (£24/quarter plus £2/month = £120/year) is no longer good value for what is now only a small holding. Neither is cancelling the frequent package and paying astronomical commissions.

I suppose I could have moved everything the other way, i.e., into share.com, but the move to ii puts me off for now at least.

It'll be interesting to see what packages/deals the new outfit offers.

[nickjoseph] 23/6/2020 14:17

spoke to sharecentre told the 500 shares i bought to get the cheaper online rate will be gone on Friday for 41p each, although they are all very unclear. Also informed will now have to pay£7.50 per trade and not £5.25 per trade and they don't know when the transfer is happening so could be paying this for many months as well as frequent dealer charges and account charges. Anyone here transferring elsewhere?

[gateside] 22/6/2020 22:21

Reading through that I believe you are correct.

[jamielein] 22/6/2020 20:13

The cash element is 4.1p but the stock element (unlisted ii stock) makes up the other 36.9p per share. If you are entitled to a fraction of an ii share, then they will pay out the 36.9p per share as cash for the fraction. This is called a fractional entitlement. Anyone with under 1197 shares should end up with the 41p per share. If you have 1197 shares exactly, you’d receive 4.1p per share plus 1 ii share. If you have 1198 shares you’d receive 4.1p per share plus 1 ii share plus 36.9p for the fraction, etc.

That’s how I understand it anyway.

[eeza] 22/6/2020 19:02

Well the email I got from SHRE last Friday mentioned 4.10p & 41.00p.
The sense seemed to be a payout of 4.10p for holdings under 1100+ so I emailed for clarification.
The reply was 4.10p.
So I have sold my 600 shares today for 26.10p.
If I have been mislead then I will take it further.

[cfro] 22/6/2020 18:04

My understanding is that it is 41p cash for less than 1197. That is the info i have.

[eeza] 22/6/2020 16:18

I emailed SHRE cust services on Friday regarding clarification as to whether the payment I would receive was 4.1p or 41p. I have 600 shares. The reply
this morning was

' I can confirm that you will receive 4.1p.'

[gateside] 22/6/2020 15:48

I did read that ii were planning on using TSC's platform, which is more user friendly.

[cfro] 22/6/2020 15:41

I've been recommended that ii are actually quite good. I assume most of the staff based at Aylesbury will stay and, i might be wrong, but ii might move HQ from London to there permanently.

We shall have to see what happens but for now i will stay and see how things develop.

[gateside] 22/6/2020 15:35

Are you staying put or switching elsewhere?I don't like the pricing structure from Interactive Investor. And not heard the best about their customer service either.

[cfro] 22/6/2020 15:29

Yes, i was just about to say that myself. I have kept just below 1197 limit as the offer of 41p cash is worth hanging around for.

[dlewis1] 22/6/2020 14:48

I'm assuming you had more than the 1197 shares. Holders having below 1197 shares on 30th June will get cash 40p per share so better to wait and get the 40p if you're in that category.

[gateside] 22/6/2020 12:55

Sold my remaining holding last week at just over 31pDon't want to be left holding interactive investor shares that you can't trade.Not sure what customer service will be like when ii take the reigns. Thinking I might switch to HL - as they have a reputation for good customer service like The Share Centre do.

[montyhedge] 20/2/2020 09:59

I'm with Share Centre, did a telephone deal, feeling I got Share Centre staff moral is low, don't know whether they will have a job in six month when they merge, I suppose.Interactive Investors have a 5 star rating from Motley Fool, Share Centre 4.5 stars.

[mirabeau] 20/2/2020 07:27

I use Share.com. I don't find the fees in anyway burdensome but the website can be a tad amateurish (old fart retail) and lacking in functionality compared to a hard nosed broker like for example IG. I have been asking Share.com to offer Level 2 and live pricing for months without success. I hope II heed to this requirement