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FRR Share Certificates

lse:frr

#1

There is a discussion on going that the registrars have suspended issuing share certs. This speculation also follows on from emails recieved last week re Computershare Investor Services ceasing to act as depositary for the share. If this is the case has anyone any thoughts re proof of FRR share ownership as I was relying on a simple paper share cert as a final backstop!

eyeson


#2

The letters from your ISA provider should be proof enough as it shows how many shares you have with a particular company, in the case FRR. A similar letter showing your holdings was sent out in January after FRR ceased trading on AIM and this was the proof I sent to the administrators of the FRR Holders group forum

When I spoke to my ISA provider, they told me that the share certificates would be put in my name from that date stated in May of this year - its on the other thread.


#3

I’ve just been on LSE and found the original post which was a one line stating that he had received a letter stating they had suspended share certificates. That was it. Of course it has escalated into a major issue by people having nothing better to do on a Saturday. Goodnight.


#4

Thanks JT and yes the original January letter sent out when FRR ceased trading should be proof of share ownership indeed. My thoughts were that it would have been nice and cosy to have been issued with an actual share cert . Never been in this particular type of situation before so just testing the water! :anguished::dizzy_face:


#5

Mine are still listed in my pf with ii, both in trading account and isa. As long as that situation continues who needs bits of paper? Plenty of evidence of ownership in transaction history, contract notes and printouts/screenshots, etc. Don’t panic! If we come through this we’ll all be winners (except Tw’s lot, and B11)
TP


#6

Cheers TP!


#7

This from OneDayRodney1 on LSE:

“The fact that they have stopped issuing share certs is a concern and, in order to trade on a relist, a certificate will be required if your shares aren’t still in your trading account (like my ex ISA ones). Hopefully Tsbs will get an answer tomorrow but I suspect that he won’t be able to. But there could be a reasonable explanation for it. This may (hopefully!!) be the case but it is a question that surely can be asked of the Company/YJ as it hopefully isn’t connected to anything sensitive from a Court or operations perspective. Can FSHG ask please?”


#8

Companies act 2006 Shirley !!!

Don’t get the big ‘hang-up’ on having/not having a bit of paper???


#9

tmhhammers…appreciated and happy to know the law is on our side!

Thanks…eyeson


#10

Quote from the letter I received the other day.

" We will arrange to withdraw your holding into your own name on or around 13 May 2019. If you hold the
shares within an ISA they will be removed from the tax wrapper unless you make alternative arrangements prior to this date.
If you hold your shares in a SIPP or a CTF account we are not permitted to transfer your holding into your own name and will
therefore hold the underlying Shares residually (outside of CREST) on your behalf"

I followed this up with a phone call to my isa provider Equiniti who confirmed that they would send me my share certificate(s) after May 13th

From what I’ve read on the forums, people are panicking and this is because each provider is handling and wording the situation differently.


#11

I suspect that one of the reasons this has come about is that FRR have stopped paying Computershare to act as Registrar. If the litigation is successfully resolved the company will want to have liquidity in its stock when it comes back to market, so I would have thought that one of the first things they will do in advance of that is to reappoint Computershare or another outfit that provides custodian services.

I will ensure that the issue is raised once we re-establish a line of communication with the company.

Tot


#12

Tot…appreciated cheers!

eyeson


#13

Cheers for the support TOT, fingers crossed for the week ahead. If we get the TRO and the judge points to the validity of jury trial I think Hope will crack and settle.
Best of luck for the week ahead.


#14

My FRR holding has just been removed from my ISA.


#15

Who are you with JT?


#16

Equinity - they did forewarn me which I posted their letter in another thread. I’ve sent them a message today asking when I will get the share certificates in my name


#17

My shares are still showing in my ISA account with ii. Just checked.


#18

yes I guess each provider will had their own date for removal


#19

Realistically all FRR shares that were in ISAs are now no longer eligible to be held in an ISA. That means that if/when we do come back to market all FRR shares will be in trading accounts. Not some slipped through the net and some did not because it’s there in black and white. Can you imaging a large chunk of people stumping up tax if/when FRR go into profit because they got unlucky in their choice of broker. I think anyone who thinks they might get lucky because some admin person forgot to take their shared out of the ISA is deluding themselves, the ISA status is gone correct me if I’m wrong but I don’t believe I am.


#20

I appreciate that PopHead but I would rather have FRR shares active on the market than in our current situation. Saying that, the amount I have will have to be split between trading and ISA (once I transfer them back in). There is not enough for me to pay CGT. I wouldn’t mind being in that situation soon.