If FRR is relisted then I will be looking for someone to help me work out how to minimise cgt should the share price go up. Losing ISA status is a big deal for me
Maybe there’s a case for compensation
At the moment Gordon I’ll bet your longing to have to deal with those nasty cg tax issues. Let’s hope that tax bill is an absolute stinker
If it were prove this was forced to delist because of illegal activity then compensation from those responsible. Pipe dreaming at moment though. Best to simply accept that capital gains tax is going to be a nice problem to have if it’s off FRR shares. Good luck Gordon.
If, after all that’s gone on here, I find I have to pay cgt on my profits from FRR, I will be over the moon
Yes a whopping big capital gains tax would be great lol
How are you going to get capital gains froma company that is being liquidated?
Please let me know this secret.
Showing your intelligence there booster. dear oh dear.
FRR arent being liquidated and aren’t anywhere close to anything like that. Legal wranglings are over a subsidiary Frontera Resources Corp. Peoples shares are in FRR not FRC.
If shares are relisted in FRR then they could attract CGT on profits if not moved into an ISA wrapper.
I guess you fail Stock Market 101!
If that’s the case the only asset you will have is an empty field somewhere in Moldova.
Is that your deepest desire dearest booster???
guys why do you all keep reply to this retard booster he is only hee to wind yous all up so dont bite just ignore him and this will become a better board as he will eventually stop posting here if no one replys to him cheers.
Just out of idle Sunday morning curiosity.
If you held a short position prior to a company being suspended or removed from the a stock market listing how is the situation resolved?
I guess technically, when you have a short position, you have borrowed someone elses shares and then sold them. But as there is no longer a market in which to openly trade, then how can the shorter buy these shares.
I’ve read talk of a grey market, and maybe that is now it works.
But if you are an average punter with a short position through a SB or CFD position surely your broker must have a mechanism to close this position, otherwise costs of borrowing/ holding would go on indefinitely.
Maybe with SB brokers, as they usually have both sides of the ‘bet’ they are able to net off both positions.?
I don’t have a SB account so I don’t know how it works. Are the contracts time dependant ? And therefore simply expire?
Neither for that matter do I currently hold a short position on any stock ( including FRR). But I have held short positions in the likes of Carillon just prior to it’s collapse, and the same thoughts did cross my mind at that time.
I guess it would be clearer if the company actually collapses or goes bust. Neither of these things have, thus far, happened to FRR. But the current situation with FRR can’t be without president.
In the case of leveraged holders SB and Cfd’s, traders both long and short must be seeing there costs of holding spiralling. And on what basis are they being charged ? Isn’t it usually a percentage of the stock valuation. ?
Surely there must be a mechanism to resolve this ?
Do any of the readers here still hold a leveraged position? (long or short) And could therefore offer an insight into the situation.
So I’m just curious if anyone has any knowledge or experience of this situation or is it totally unique ?
Many thanks in advance.
I missed a secure message that EQ sent me on Saturday. Apparently I should be getting my shares posted to my home address this week.
Just rang them up and they said it could be next week.
Had a corporate action message from ii on the delisting … it said
“As the stock will no longer be trading on a supported stock exchange we will endeavour to provide you with a share certificate in relation to your holding, should one be issued by the company in the future”
Noted the last line?
More info on ii
Computershare has given notice that it will cease to act as depositary for Frontera Resources Corporation Depositary
Interests (DI’s) with effect from the close of business on the 27th May 2019.
As a result, all DI’s as at the effective date were cancelled and DI holders will be entered as shareholders on the
company’s share register.
As the stock will no longer be trading on a supported stock exchange we will endeavour to provide you with a share
certificate in relation to your holding, should one be issued by the company in the future.
Unlisted shares are not considered an ISA qualifying investment. Certificates received in respect of ISA accounts will no
longer be held within the tax efficient wrapper so will lose any tax benefits.
SIPP, Pension Trading Account, and Junior ISA customers
As withdrawals are not permitted from these products, the shares will remain on your account as an unlisted security
Dont PANIC!!! Mr Mainwaring DONT PANIC!!! It the inevitable but late action from II.
This is just a technicality. What matters is what happens in the Caymans. I’ve no clue what’s going on but I believe Steve and Zaza are fighting a good fight. I don’t think Maples can legally liquidate a solvant company hence the need for the written declaration from Steve that OMFs debt can be settled in 12 months.
It’s just II catching up Fozz. There is a PANIC stampede going on over on LSE. Don’t jump!!!
Someone even uttered the dreaded “Game Over”. It was inevitable that II would catch up. It’s nervous times for sure but we are still fighting.