Dealing with the Polymetal delisting and moving holding to Kazakhstan

[wherebee]

7 hours ago, The Bear of Doom said:

I received an interesting letter today. It was from Poly / Computershare, welcoming me as a shareholder (complete with a shareholder ID number), and asking me how I would like to receive communications and whether I want Dividends paid into my bank account!

I've not received any paper certificates yet (presumably they are coming from II).

computershare?

Thats a US company, I think?  So.... not really worried about sanctions then?

[Foor]

They could be buy or sells, my guess mostly buys as they stretch the bid/offer to hide the execution direction....

But someone likes a bit of Poly and it is not UK retail as they are now blocked from buying completely....

 

 

[TNS]

13 hours ago, sancho panza said:

I'll be finding this out in due course.Once I've got the certs,I'll be waiting it out.Have you contacted investor relations for an update?

who did you contact for the code anyway?

Got a contact email handy before i google away for them ?

I sent the request to To  [email protected]  

[sancho panza]

18 hours ago, Foor said:

You'll awake one day and it will be a vertical line from 180 to 1180 and we'll all say what's app....

very much my feeling foor,hence I'm desperately hanging on in there till the dust settles if I can.

think they're shafting a lot of small traders here,plus ca change....

 

17 hours ago, JimmyTheBruce said:

I made this point to them.  They can't explain why transfers are being blocked due to circumstances that already exist for current account holders.

Clowns.

exactly jimmy,there was no need for them to makea  promise they had no intention of keeping and then try and pretend there was a legal reason they shouldnt have made the promise in the first place.

I will be drafting my co0mplaint next week.They cost me an account at wood.com and would happily have seen me forced selling July 1st onward.

I wont be letting this drop.

13 hours ago, The Bear of Doom said:

I received an interesting letter today. It was from Poly / Computershare, welcoming me as a shareholder (complete with a shareholder ID number), and asking me how I would like to receive communications and whether I want Dividends paid into my bank account!

I've not received any paper certificates yet (presumably they are coming from II).

we still hold certificates for things like BP/Shell/BAts where we can. and thats how it nromally works,lets hope they can do that here,then I can sit on the cert for years.

I don't see why they can't.for years my grandad was a holder of shares from the far east and South Africa and they jsut sent the cheques to him.

cant see why they cant get a registrar in kazakhstan to do us the same favour....

fingers crossed

[sancho panza]

5 hours ago, Foor said:

They could be buy or sells, my guess mostly buys as they stretch the bid/offer to hide the execution direction....

But someone likes a bit of Poly and it is not UK retail as they are now blocked from buying completely....

 

 

That's the tell,retail can't buy but someone is as the share price isnt collapsing.and I'll be thte actual bid offer is nowehre enar that wide at the caol face.

Thats a lot of small sell orders in the main.

[Foor]

3 hours ago, sancho panza said:

That's the tell,retail can't buy but someone is as the share price isnt collapsing.and I'll be thte actual bid offer is nowehre enar that wide at the caol face.

Thats a lot of small sell orders in the main.

Some big buys today, buy/sell volume 9 to 1 and no retail but loads of little sells some like volume 7 which is very odd.

Something very very odd about this. 

 

[Cosmic]

Quote

Your transfer of Polymetal units to AJ Bell has now been closed, this is due to your new provider no longer accepting this asset. If you would like to confirm why this change has been implemented please contact your new provider to discuss further.

From II, not AJBell

AJB still shows an active transfer initiated on the 8th of June.

[wherebee]

Interactive Brokers has just issued a notice that POLY positions must be transferred or closed by 30 June..

 

Luckily I have my earlier emails from them confirming that there will be no forced selling.  Have put in a complaint - lets see what they answer.

It's an obvious stitch up for the big boys.  All of the wests systems are corrupt now - social, legal, financial, political.  Bring on the collapse.

[Talking Monkey]

17 minutes ago, wherebee said:

Interactive Brokers has just issued a notice that POLY positions must be transferred or closed by 30 June..

 

Luckily I have my earlier emails from them confirming that there will be no forced selling.  Have put in a complaint - lets see what they answer.

It's an obvious stitch up for the big boys.  All of the wests systems are corrupt now - social, legal, financial, political.  Bring on the collapse.

As far as i can tell HL haven't yet pulled this stunt. The last email states if you do nothing the shares will simply sit in your account, you will receive dividends but wont be able to sell until poly do a listing on an exchange HL trades on. This whole thing seems dodgy as hell the way brokers are behaving. 

[sancho panza]

11 hours ago, Foor said:

Some big buys today, buy/sell volume 9 to 1 and no retail but loads of little sells some like volume 7 which is very odd.

Something very very odd about this. 

 

I think theyve gone old schooll and are working through marekt makers.Not sure how they get recorded.

[Foor]

2 hours ago, wherebee said:

Interactive Brokers has just issued a notice that POLY positions must be transferred or closed by 30 June..

 

Luckily I have my earlier emails from them confirming that there will be no forced selling.  Have put in a complaint - lets see what they answer.

It's an obvious stitch up for the big boys.  All of the wests systems are corrupt now - social, legal, financial, political.  Bring on the collapse.

Have they offered certificates. If so take them. If no certificate offered then they cannot force sell. HL have not offered a certificate hence from my understanding they are holding the certified format under nominated ownership

 

[Foor]

2 hours ago, Talking Monkey said:

As far as i can tell HL haven't yet pulled this stunt. The last email states if you do nothing the shares will simply sit in your account, you will receive dividends but wont be able to sell until poly do a listing on an exchange HL trades on. This whole thing seems dodgy as hell the way brokers are behaving. 

HL have sent out two letters by post and electronic mail reiterating that they will not force sale.

If they went back on that corporate decision well I'd bet there would be legal challenges and possibly a class action.

They won't offer paper so really they would have to honour their word.

Edited June 24, 2023 by Foor

[Cosmic]

Well it looks like the fact AJB were transferring my shares and now are not means I've missed the window to get certs from II, my ISA holding will be force sold by II a couple of grand underwater.

AJB SIPP shares should just sit there.

[The Bear of Doom]

My Poly Share Certificates from II arrived this morning. I'm sorry to report that they do not have swirly bits or fancy engraved drawings on 

One thing I don't understand is whether I still need to register the shares with Polymetal or not. The Certificates and the previous correspondence from Computershare indicate that I am already registered with them.

[MightyTharg]

On 23/06/2023 at 03:49, wherebee said:

computershare?

Thats a US company, I think?  So.... not really worried about sanctions then?

They’re Australian, mate.

[sancho panza]

Received the following from AJ Bell this am.I instructed certification from my local Broker the day after AJ Bell told me they'd canned my transfer circa 22nd June.I have informed AJ Bell that it doesn't resolve my complaint.I am still fuming with what they've done to me and other retail holders.

AJB could have run a load of us past the certification deadline(30th June) and forced us to sell into the big insto's willing hands.

In further email,AJB tried to tell me that as I'd certified I'd be in no different a position to what I would be with them.I beg to differ.There's a huge difference between holding these in nominees witha big UK broker to holding via Tabys app.

With a bit of luck the Registrars will administer like they used to the old overseas registers.I don't see why that's not possible

 

 

 

'Dear Mr ******

 

First of all please accept my apologies for the confusion surrounding the transfer in of your Polymetal International shares.

 

I have looked in to your complaint and have instructed my team to make an exception and do what they can to facilitate your transfer.

 

We have sent our acceptance of the units to ******** and we have suggested trade and settlement dates of 29^th June and 3^rd July.

 

Once again please accept my apologies.

 

Would you be so kind as to confirm whether this resolves your complaint with AJ Bell please.

 

I look forward to hearing from you.

 

Kind regards

 

****** '

[sancho panza]

On 24/06/2023 at 14:00, The Bear of Doom said:

My Poly Share Certificates from II arrived this morning. I'm sorry to report that they do not have swirly bits or fancy engraved drawings on 

One thing I don't understand is whether I still need to register the shares with Polymetal or not. The Certificates and the previous correspondence from Computershare indicate that I am already registered with them.

IS there any chance you could ring the registrar and find out whetehr you need to regsiter on the Tabys app?

I haven't got my certs yet but I need to get on this.

[The Bear of Doom]

2 hours ago, sancho panza said:

IS there any chance you could ring the registrar and find out whetehr you need to regsiter on the Tabys app?

I haven't got my certs yet but I need to get on this.

I've had another look at the Re-domiciliation FAQ that Poly published.  In answer to Q30 "What is the deadline to register with Tabys? When will I receive my unique code?", they state

Quote

Shareholders holding their interest in certificated form at the time of the Re-domiciliation who do not register with Tabys prior to the Re-domiciliation, will maintain their interest in the Company evidenced in the register held by the AIX Registrar and retain the option for their holdings to be transferred to the AIX CSD as soon as their registration with Tabys is completed.

So I assume that now I have my Certificated Shares, the pressure is off a bit for registering for Tabys. In any case, someone upthread (sorry I can't remember who it was) had stated that Tabys hasn't been updated yet to accept the Poly Shares.

I am assuming that as I now have a shareholder number with Poly via Computershare that I am on the Poly register, but does that mean I am/will be on the AIX register? In the answer to Q15 "As a result of the Re-domiciliation, will there be any specific impact for holders of certificated (paper) shares?" Ply state that I need to supply them with my DoB and Passport details in order to be added to the register. I probably need to contact Poly directly to see where I stand on the register.

[Cold Cold Ground]

I was in two minds on whether to keep in HL or transfer to FF. Sent the instruction to transfer to FF today, which was the deadline. Will see if it goes through.

[Iamcynical]

AJB cancelled my transfer into an ISA from II last week.  They still haven't replied to my message questioning why this happened, and as of today I can see that II have flogged my shares, so I've lost 85%.  One big scam to transfer wealth from the little people to the 'big' people.  I had initially requested certificates from II, but cancelled this when ajb said they would accept the transfer.  

[sancho panza]

2 hours ago, Iamcynical said:

AJB cancelled my transfer into an ISA from II last week.  They still haven't replied to my message questioning why this happened, and as of today I can see that II have flogged my shares, so I've lost 85%.  One big scam to transfer wealth from the little people to the 'big' people.  I had initially requested certificates from II, but cancelled this when ajb said they would accept the transfer.  

Gutted for you.Makes me so angry what AJB have done.

I;ve had three emails off them,each one from someone more senior,until I got the top lady email as above.

The fact they were willing to transfer as above,this late in the day, tells me that I'm onto something.

I'll psot up when I file my complaint which I'm working on.

Edited June 28, 2023 by sancho panza

[wherebee]

3 hours ago, Iamcynical said:

AJB cancelled my transfer into an ISA from II last week.  They still haven't replied to my message questioning why this happened, and as of today I can see that II have flogged my shares, so I've lost 85%.  One big scam to transfer wealth from the little people to the 'big' people.  I had initially requested certificates from II, but cancelled this when ajb said they would accept the transfer.  

raise a complaint with the FCA, that's a breach of fiducary duty.  If there were Uk sanctions on POLY, I could kind of understand it, but this is completely not the case.

Seek compensation of 10x the value of the investment.  Start there.

[Foor]

Got an itchy feeling this re-dom might not happen!

 

Notice of 2023 AGM

Polymetal International plc (the "Company") announces its Annual General Meeting ("AGM"), which will be held on 25 July 2023 at 11:00 am (BST) at the offices of etc.venues, 8 Fenchurch Pl, London EC3M 4PB.

Today, the Company issues an update to the Re-domiciliation timetable.

As announced by the Company and pursuant to the shareholder circular published on 10 May 2023 (the "Re-domiciliation Circular"), the Board sought approval of the Shareholders to re-domicile the Company from Jersey to the AIFC in Kazakhstan. The requisite resolutions were passed at the General Meeting on 30 May 2023.

Whilst the Company continues to pursue fulfilment of the remaining conditions required to implement the Re-domiciliation, it acknowledges that it will now not meet the scheduled timetable as a result of delays in anticipated processes on which the Re-domiciliation is contingent.

The Company will notify Shareholders by an announcement through a Regulatory Information Service when it has further certainty on timing.

In any event, given that the Re-domiciliation will only occur after the conclusion of the Company's 2023 Annual General Meeting ("AGM"), a notice of which has been issued today and which is scheduled to be held on 25 July 2023, the Company confirms that the Re-domiciliation will not occur prior to the week commencing 31 July 2023, at the earliest.

[MockneyRebel]

For those waiting for a Tabys code:

Quote

Dear shareholder,

You have received this email as you requested an access code for the Tabys application. The AIX will be circulating access codes in the following few days using the mobile phone number and/or e-mail address you provided. As soon as you receive the code, you can proceed with the registration in the application according to the user guide available here: https://www.polymetalinternational.com/upload/files-en/Tabys_guide_v2.pdf. Soon after the re-domiciliation completion and provided that your registration in Tabys is successful, you will receive a notification in the app that your shares have been deposited to your account. 

We would like to remind you that so far Tabys only works for retail investors holding their shares in certificated form (physical shares). The option of “digital” shares transfer from a broker to Tabys is under development by AIX. US citizens are not yet eligible to register with Tabys and are encouraged to use AIX Registrar portal after its launch.  

If you do not receive an access code within the next 3 working days, please email us at [email protected]. 

For any questions in relation to the registration process and use of Tabys, please refer to Tabys team directly using the chat bot available on the application’s home page or by email at [email protected]. 

Kind regards, 

Alikhan Bissengali

Investor Relations

E-mail: [email protected]

TLDR:

1. AIX will be sending out access codes in next few days for those that have requested one from Polymetal

2. US citizens are not yet eligible to register with Tabys and are encouraged to use AIX Registrar portal after its launch (possibly relevant for those who do not want to use Tabys)

[Iamcynical]

12 hours ago, wherebee said:

raise a complaint with the FCA, that's a breach of fiducary duty.  If there were Uk sanctions on POLY, I could kind of understand it, but this is completely not the case.

Seek compensation of 10x the value of the investment.  Start there.

I initially requested certification from ii, I then cancelled this when I had successfully began the transfer process through ajb.  By the time ajb had cancelled my transfer the window to request certification from ii had expired.  Who do I blame ? I expect they'll blame each other and just leave me as the loser