Dealing with the Polymetal delisting and moving holding to Kazakhstan

[Castlevania]

25 minutes ago, VeryMeanReversion said:

HL is now listing Polymetal in my SIPP at 448p.

It had been showing as zero value for a long time but now I'm at +12%

Its not showing as tradeable though, just "contact us"

 

Looks like they’re taking the Moscow price. 

[AWW]

1 hour ago, VeryMeanReversion said:

HL is now listing Polymetal in my SIPP at 448p.

It had been showing as zero value for a long time but now I'm at +12%

Its not showing as tradeable though, just "contact us"

 

Same here, but without the profit!

[Pip321]

5 hours ago, VeryMeanReversion said:

HL is now listing Polymetal in my SIPP at 448p.

It had been showing as zero value for a long time but now I'm at +12%

Its not showing as tradeable though, just "contact us"

 

AJBell SIPP just as it was…it shows them before they were delisted @£1.70 and are charging me accordingly.

My average is about £3.60 so thanks for the update…..I have 3500 shares and am just ignoring them. I am expecting them to be released in 10 years so I can trade and they be worth £100 a share….😂

Joking apart I have just forgotten about them and hope one day I will see them again, maybe even at a profit. Doubt I will ever sell. 

 

[Castlevania]

5 hours ago, Cawn said:

Apparently 448 is USD they might allow AIX trading via the phone. That's £3.50.

Question.

If a share is listed on a foreign exchange in USD. HL allows trading access to that exchange. What currency does it show in the HL portal. USD or its FX exchange rate equivalent in GBP?

In your account will show as the GBP equivalent. The stock page will be in the local currency. 
 

HL don’t have access to the AIX. 

[MightyTharg]

On 30/12/2023 at 07:39, VeryMeanReversion said:

HL is now listing Polymetal in my SIPP at 448p.

It had been showing as zero value for a long time but now I'm at +12%

Its not showing as tradeable though, just "contact us"

 

Mine says +80%. Not sure if I can sell without losing its ISAness.

Anyway, diamond hands, to the moon and all that…

[Loki]

Did we make it brahs?

[Majorpain]

7 minutes ago, Loki said:

Did we make it brahs?

There were a few casualties among the way....  II you Basterds.

[Loki]

Just now, Majorpain said:

There were a few casualties among the way....  II you Basterds.

Were they the ones that just sold without any consultation? 

[Majorpain]

3 minutes ago, Loki said:

Were they the ones that just sold without any consultation? 

They had "too many customers to call", so they just put up a note on the website saying we might sell it if we want.  If you didn't log in for a few months you wouldn't have known about it.

Choice in the end came down to you sell it or they sell it, they were cancelling transfers before the deadline to make sure they shifted it off their books for some reason.

Poor.

 

[Loki]

1 minute ago, Majorpain said:

They had "too many customers to call", so they just put up a note on the website saying we might sell it if we want.  If you didn't log in for a few months you wouldn't have known about it.

Choice in the end came down to you sell it or they sell it, they were cancelling transfers before the deadline to make sure they shifted it off their books for some reason.

Poor.

 

Maybe there is something in that "The politicians use HL"...I only use them because I heard about them here

[Majorpain]

11 minutes ago, Loki said:

Maybe there is something in that "The politicians use HL"...I only use them because I heard about them here

Might have cost me around £70k profit so yeah, although i do have some investments with HL for diversification this was wasn't!

Edited December 31, 2023 by Majorpain

[Loki]

2 minutes ago, Majorpain said:

Might have cost me around £70k profit so yeah, although i do have some investments with HL for diversification this was wasn't!

That's terrible mate 

[wherebee]

8 hours ago, Loki said:

Were they the ones that just sold without any consultation? 

yup.  my dispute is still working it's way through the admin process.  examples like the HL position are very useful.  Anyone got a forum (NOT DOSBODS) that I can use as a reference?

[Heart's Ease]

https://www.lse.co.uk/SharePrice.html?shareprice=POLY&share=Polymetal-international

@wherebee

Last few posts asking about £4.48 on HL. Good luck, by the way.

[Loki]

Online dealing still not available

[Pip321]

3 hours ago, Cawn said:

Hargreaves the crooks are using the 448p to charge a fee in a SIPP and ISA.

Management fees are being charged as of today.

This message pops up in their portal next to the Polymetal SP.

“This may not be the current price, but is the most recent we have available online”.

F$$king crooks, must be illegal cannot be fair or legal?

At least you know it’s not an error….its just theft.

Its the same in my AJ Bell SIPP. 🤦🏻‍♂️

[wherebee]

On 05/01/2024 at 01:19, Cawn said:

Hargreaves the crooks are using the 448p to charge a fee in a SIPP and ISA.

Management fees are being charged as of today.

This message pops up in their portal next to the Polymetal SP.

“This may not be the current price, but is the most recent we have available online”.

F$$king crooks, must be illegal cannot be fair or legal?

the POLY debacle is really showing just how corrupt the financial services sector in the west is, isn't it?

[AyrshireBoy]

.

Edited January 8 by AyrshireBoy

[wherebee]

And... my complaint got nowhere, neither with the firm nor the regulator/consumer affairs bodies.  Basically, it comes down to 'do the T&Cs of the company allow them to fuck you raw if they told you they were going to fuck you raw'.  If the answer is yes, they can do what the fuck they want.  They said they were going to sell your holdings, they did sell your holdings, hard fucking cheese.  They are not obliged to act in your best interest (i.e. hold the stock until the situation works out), just to not lie about how much raw dogging you are about to get.  Doesn't matter what other brokers did around the world, as long as T&Cs allow it at this broker (and they all do).

Lesson learnt - NO western broker or financial firm is safe.  End of.  You start to worry about your money, get it out ASAP as the game is rigged.

I'm disappointed but not surprised.  It ties into what others have said about retail investors having no real right to their investments now.  It certainly makes 'panic first' a more valid startpoint, doesn't it?

[sancho panza]

1 hour ago, Cawn said:

https://market.aix.kz

https://aix.kz/listings/continuous-disclosure-obligations/company-disclosures-2/

https://aix.kz/news-announcements/aix-market-notices/

https://market.aix.kz/historical

https://aix.kz/trading/trading-calendar/

https://aix.kz/aix-membership/trading-me

 

International cooperation

AIX and the Abu Dhabi Stock Exchange (ADX) have signed an agreement for AIX to join the Tabadul Digital Exchange Hub. The Bahrain Stock Exchange, Central Asian Stock Exchange (Tajikistan) and Muscat Securities Market (Oman) are already members of Tabadul.

The Tabadul Hub is the first regional digital exchange center based on a mutual trading access model, offering a digital trading platform for regional and global member exchanges. For example, Freedom Finance Global has been recognized and onboarded as a Tabadul Hub broker from Kazakhstan in 2023, and BHM Capital (Dubai, UAE) was onboarded as an AIX trading member on January 3, 2024.

Cawn,Im still on Tabys.

Im waiting until things settle to try and move it to a Broekrage account.SUrprised and pleased to see Citigroup setting up there.

Do you know of anyone who's moved off tabys yet? ie how hard is it?

[JimmyTheBruce]

On 17/01/2024 at 11:57, wherebee said:

And... my complaint got nowhere, neither with the firm nor the regulator/consumer affairs bodies.  Basically, it comes down to 'do the T&Cs of the company allow them to fuck you raw if they told you they were going to fuck you raw'.  If the answer is yes, they can do what the fuck they want.  They said they were going to sell your holdings, they did sell your holdings, hard fucking cheese.  They are not obliged to act in your best interest (i.e. hold the stock until the situation works out), just to not lie about how much raw dogging you are about to get.  Doesn't matter what other brokers did around the world, as long as T&Cs allow it at this broker (and they all do).

Lesson learnt - NO western broker or financial firm is safe.  End of.  You start to worry about your money, get it out ASAP as the game is rigged.

I'm disappointed but not surprised.  It ties into what others have said about retail investors having no real right to their investments now.  It certainly makes 'panic first' a more valid startpoint, doesn't it?

I'm still waiting for the response to my complaint.  I raised it with the Pension Ombudsman rather than the Financial Ombudsman.  From my understanding you could raise it with either but, given that I was hamstrung to a large extent by the restrictions around SIPP holdings, and the additional regulations around SIPP provision, I went with the PO.

I know we're in different jurisdictions, but I don't expect my outcome to be any different to yours.  Lesson learnt - II are sneaky bastards.

[Hunty]

https://www.rbc.ru/business/29/01/2024/65b742ef9a79473eaad0e503

The ICT company of billionaire Nesis left the capital of the largest silver producer in Russia - Polymetal International. A buyer from Oman supported the desire to reduce Russian assets.
Omani state fund MDI, through a subsidiary, has bought all shares of precious metals producer Polymetal International from subsidiary ICT, which was previously the group's main shareholder. This was reported by the press service of Polymetal International.

“We are pleased that MDI LLC has confirmed its full support for Polymetal’s strategy, which includes reducing business risks through the sale of Russian assets and further development of production in Kazakhstan and the Central Asian region as a whole,” said Vitaly, head of Polymetal International Nesis.
The deal concerned 113 million shares of Polymetal International, which is 23.9% of the authorized capital. The remaining shares are distributed as follows: 62% from institutional and private investors, 9.9% from BlackRock, 3.3% from Fodina BV, another 0.9% belongs to directors and management.

In March 2022, Polymetal announced that it does not consider itself to be a legal entity owned by or acting on behalf of or at the direction of a “person associated with Russia.” In the summer of the same year, the company announced a business restructuring through the division of its Russian and Kazakh assets, as well as the redomiciliation of the parent holding from the Island of Jersey to the jurisdiction of Kazakhstan. The management allowed the sale of Russian assets , since due to international sanctions against Russia there were no “reliable export channels and sales opportunities in the domestic market” left on the market.
In the spring of 2023, the United States imposed sanctions against the company and its subsidiaries for activities in the metallurgical and mining sector of the Russian economy. Due to restrictions, the leadership of its Russian subsidiary, Polymetal, was left by Chief Executive Officer Vitaly Nesis and Chief Financial Officer Maxim Nazimok.

https://en.m.wikipedia.org/wiki/Oman_Investment_Fund
The Oman Investment Fund is a sovereign wealth fund, established in 2006 in accordance with a royal decree of His Majesty the Sultan of Oman. The fund makes medium to long-term investments, globally and domestically, to diversify the government of Oman's asset base and create a pool of sustainable cash flow.[1] Currently, the fund's assets under management are estimated at approximately US$18 billion.[2]
The Oman Investment Fund was established in 2006 and was the successor to the Oman Oil Fund, which was formed in 1993 to invest in the domestic oil industry. The fund received an additional US$1 billion from the Omani government expanding its assets under management.
The fund is legally prohibited from publicly disclosing information about its investment strategy or asset allocation.[citation needed] It is therefore only possible to estimate its funds under management, and a full list of its investments is not publicly available.
The fund has a long-term investment horizon, and its mandate includes seeking above-average returns. Its primary objective upon its establishment was to generate economic growth in the Sultanate of Oman, through direct investment in domestic companies, by assisting foreign companies to extend their investments and operations in Oman, or by facilitating knowledge and technological transfer to domestic entities.
The fund has made investments in real estate and private equity.[3] Other investment sectors in which it has historically invested include:
Travel and leisure
Media and entertainment
Industrial goods and services
Industrial transportation and engineering
Financial services
Utilities
Telecom infrastructure
Given the Oman Investment Fund's imperative to generate above average-returns through long-term investments, it has shown a particular interest in emerging industries within Oman, as well as markets with promising growth potential. It has shown a preference for high-growth emerging markets, such as India, where Oman has historical trading ties
The fund's sole shareholder is the Government of the Sultanate of Oman. It is overseen by Financial Affairs and Energy Resources Council and the Ministry of Finance of Oman.[1]

 

[Libspero]

Might enable a relisting for some of you guys?

 

[wherebee]

Alright, who's been chatting with this fluff?

 

[Jesus Wept]

On 04/01/2024 at 14:19, Cawn said:

Hargreaves the crooks are using the 448p to charge a fee in a SIPP and ISA.

Management fees are being charged as of today.

This message pops up in their portal next to the Polymetal SP.

“This may not be the current price, but is the most recent we have available online”.

F$$king crooks, must be illegal cannot be fair or legal?

Now gone to 293.40p on H&L.

Whats that about?