| Date | Subject |
|---|
03/8/2020
10:30 | asagi: only struck off on dissolution I'm told.
Asagi (short TCG)
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04/6/2020
07:57 | asagi: will Companies House be starting strike off proceedings? According to this page:
https://beta.companieshouse.gov.uk/company/06091951
the confirmation statement is more than three months overdue. Perhaps strike off is delayed during insolvency?
My position with IG is STILL open.
Asagi (short TCG)
|
23/1/2020
12:54 | mallorca 9: That's interesting …
I still haven't been able to close out my short with IG as they still haven't had formal confirmation from the Administrator that it is definitely not coming back.
They have released all the margin and the share price is showing as 0.0001p, however I cannot close it and take the profit until they have that confirmation and the TCG epic is cancelled.
Seem's to be going on forever.
Can't say that I'm very impressed with IG on that one.
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12/12/2019
09:14 | mallorca 9: Cheers Nigel,
can't claim all the benefit for that one - it caught my eye after Robbie Burns shorted it.
£2 billion valuation - totally ridiculous.
I am going to build a substantial short position there as it drops each 15% , adding trailing stops to the previous addition - hope that makes sense (was my strategy on TCG).
Anyone care to join me on the TRN board ? Pretty lonely over there - think I'm first in there to short.
|
25/11/2019
21:42 | asagi: thanks, JakNife.
I hadn't read things properly. IG have NOT increased required margin to 100% at any point, so the experience versus CMC is not so inferior. Us shorts are able to withdraw nearly all the winnings (99.9%). I'd mistakenly thought that they had priced at 0.001p but were retaining the margin on the full suspension price.
Still, it took too long and CMC was a better experience.
Asagi (short TCG)
|
25/11/2019
13:57 | jaknife: Asagi,
CMC have a different policy to IG, simples.
"CMC paid out at zero weeks ago. If CMC closed longs out at zero also, by your logic, those longs would have a case against CMC."
Yes, I agree, in the theoretical scenario where TCG returns cash to shareholders (despite the fact that debt is getting 2p in the pound) then TCG longs at CMC will be able to chase CMC for that cash and likewise, CMC will be able to chase shorts. It probably says so in their terms and conditions.
IG have decided to mark positions at 0.001p, the minimum that they can mark them at that isn't zero, until there is a formal legal piece of paper that confirms zero. Hence IG are managing their risk differently.
How much is this costing you? Can I pay that amount to you now to stop you going bankrupt?
JakNife
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25/11/2019
13:26 | asagi: then IG's systems are giving a sub optimal outcome for clients. That's their business call but given that they are retaining client funds when their "independent advice" tells them it is a zero I am not ruling out the possibility that they are acting in breach of rules.
CMC paid out at zero weeks ago. If CMC closed longs out at zero also, by your logic, those longs would have a case against CMC.
Asagi (long TCG)
|
22/11/2019
08:08 | asagi: IG DID NOT move to 100% margin but did continue to charge for TCG positions.
My TCG short position is still open with IG as of a few minutes ago.
Asagi (short TCG)
|
18/11/2019
21:14 | asagi: They've been charging you an overnight rate since late September?
Yes. It looks like it at least.
That's pretty disgraceful in itself.
I'm inclined to agree. I'm going to look into this further. It's not clear from the information online what positions IG's is taking fees against. Nor can I see how much margin they are currently holding against my TCG short. Cheers nigelpm
Asagi (short TCG)
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09/9/2019
20:09 | jaknife: I am of the view that TCG has passed beyond the point at which there will be ANY return to shareholders. Given the comments about how the pension fund are trying to play hardball (and the pre-pack that would be needed to walk away from the pension scheme liability) I suspect that TCG are going to take the opportunity to do the major pre-pack that they really need to do and also walk away from much of their high street lease liabilities. TCG's advisors will tell them that that would best be done away from the scrutiny of the stock market. A pre-pack would leave current shareholders with precisely zero.
JakNife
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