- The Share Centre is combining with interactive investor (ii) for an even better investment service and that means The Share Centre service is closing later this year.
- We need your agreement to move your Wellesley Property Bonds and any money left in your dedicated Share and/or ISA account with The Share Centre to the ii platform.
- Please complete and return the form we posted to you by 20 October 2021 to let us know that you do agree. If we do not hear from you by then we may need to go ahead and move you to the ii platform.
Why should I agree to the move?
Wellesley Finance Limited entered into a Company Voluntary Arrangement (CVA) in October 2020. If you need a reminder of the details and of what the CVA means for your Wellesley Property Bonds, please visit Wellesley’s investor support website.
Under the terms of the CVA, Wellesley Property Bond holders are receiving capital repayments in stages. The final repayment is due to be paid into your account in early January 2022, after The Share Centre service will have closed.
This means agreeing to the move is a practical step you need to take to make sure your final repayment reaches you. As soon as you receive your repayment into your ii account you can withdraw your money if you wish and your account will be closed.
Does any money in my account have to move with my bonds?
No. You can withdraw it before the move if you wish. You can arrange a withdrawal through your account online.
The option to request a transfer to another platform or broker ahead of the move is no longer open to you. When we wrote to you originally about moving to ii we explained that, as transfers can take some time to complete, you would need to initiate one by 6 September 2021. You can, of course, still arrange a transfer from ii after the move. Neither The Share Centre nor ii apply an exit charge.
Will I have to pay charges to ii?
After your move and before your final capital repayment is made, you will not pay any charges to ii, as long as you hold only Wellesley Property Bonds in your account.
After your final capital repayment is made, you will only pay charges to ii if you choose to stay on and make use of ii’s platform service on an ongoing basis.
If you do stay on, the charges you pay will depend on the service plan you choose. The Investor Plan is ii’s most popular. Read ii’s Rates and charges for the details.
What if I’ve already got an account with ii?
We still need to move your dedicated Wellesley accounts from The Share Centre to the ii platform for your final capital repayment to be made.
You will continue paying charges as normal for your existing ii account and will not pay anything extra as a result of your Wellesley accounts moving from The Share Centre.
Telling us your decision
Terms of service
Rates and charges
What to expect: your step by step guide
|Now||You let us know you agree to the move.|
|A few weeks before the move||We write again to confirm the date for it and explain any action you need to take at this stage.|
|Towards the end of 2021||Your Wellesley Property Bonds and any money in your dedicated Share and/or ISA accounts move to the ii platform.|
|Early January 2022||Your final capital repayment is made. If you wish you can now withdraw your money and ii will close your account.|
Until your move takes place please continue using your service at The Share Centre as usual.
If you have questions
We are unable to answer questions about the Wellesley Finance Limited CVA, please visit Wellesley’s investor support website for those.
The exact repayment terms and dates for your Wellesley Property Bonds were e-mailed to you on 24 November 2020.
Otherwise, if you have questions about moving to ii that are not answered here, in the useful documents or on the ii website please email firstname.lastname@example.org and we are happy to help.