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Re: Axion European Financial Debt (AXI)
Posted: August 18th, 2023, 11:54 am
by Gan020
bruncher wrote:If 'retail' holders are being offered cash now, but others are being offered exit at NAV later, then I think this would be something for the FCA to look at.
It has all been through the regulator. That's part of the reason it's taken so long to get this far.
It's your broker (HL) that's enforcing the cash offer. And I guess they are entitled to decide what products they offer. I'm not impressed with HL but there is a choice and you can vote with your feet. Move to AJ Bell or Interactive Investor who are letting retail transfer. Too late for this one of course but there is a pattern with HL.
Edit: I have reconsidered the above post and although I've left it, it sounds a bit blunt. Regrettably it seems to be the way these days with HL. They are becoming more and more inflexible and it seems aren't interested in anything unless it's easy for them to deal with. I've been dithering over moving away from them for the last year. This is another step closer to that happenning. I am hoping the new CEO will change HL's priorities
Re: Axion European Financial Debt (AXI)
Posted: August 23rd, 2023, 1:01 pm
by bruncher
AXI has now disappeared from my iWeb account.
Re: Axion European Financial Debt (AXI)
Posted: August 30th, 2023, 12:08 pm
by bruncher
Result of Extraordinary General Meeting
The Company announces that at the Extraordinary General Meeting held earlier today in connection with the implementation of the Scheme, all resolutions were duly passed.
Following the approval of the Scheme by Shareholders, Benjamin Alexander Rhodes and Andrea Frances Alice Harris, both of Grant Thornton Limited, have been appointed as joint liquidators for the purposes of the voluntary liquidation of the Company under Guernsey law. The Company has now entered into liquidation and the Scheme is effective.
https://www.londonstockexchange.com/new ... s/16101749
Re: Axion European Financial Debt (AXI)
Posted: September 15th, 2023, 9:32 am
by stevensfo
bruncher wrote:Result of Extraordinary General Meeting
The Company announces that at the Extraordinary General Meeting held earlier today in connection with the implementation of the Scheme, all resolutions were duly passed.
Following the approval of the Scheme by Shareholders, Benjamin Alexander Rhodes and Andrea Frances Alice Harris, both of Grant Thornton Limited, have been appointed as joint liquidators for the purposes of the voluntary liquidation of the Company under Guernsey law. The Company has now entered into liquidation and the Scheme is effective.
https://www.londonstockexchange.com/new ... s/16101749
The AXI Corporate action notification on the AJBell site has:
The proceeds are expected to be credited to your account on or around 4 September 2023.
Please be advised in some circumstances there may be delays in the proceeds being credited to us from our custodian. Please allow 10 working days for your account to be updated.
I just wondered if anybody had received the cash.
Steve
Re: Axion European Financial Debt (AXI)
Posted: September 15th, 2023, 10:01 am
by 88V8
stevensfo wrote:I just wondered if anybody had received the cash.
Last payment I had from AXI via ii, was the divi on 23 August.
Usually, ii are quick with payments, so I guess it has not been received or at least not in an orderly fashion.
V8
Re: Axion European Financial Debt (AXI)
Posted: September 15th, 2023, 10:06 am
by kempiejon
In HL it's still in my portfolio but greyed out and a note something like "This stock is an interim line resulting from a corporate action that will be exchanged for cash or stock"
Re: Axion European Financial Debt (AXI)
Posted: September 15th, 2023, 2:22 pm
by stevensfo
88V8 wrote:stevensfo wrote:I just wondered if anybody had received the cash.
Last payment I had from AXI via ii, was the divi on 23 August.
Usually, ii are quick with payments, so I guess it has not been received or at least not in an orderly fashion.
V8
A quick update. For weird reasons, I had AXI in both my AJBell account and my ii account.
Late morning today, the cash was credited to the AJBell account, even though on closer examination, it had been received a few weeks ago!
So far, nothing from ii.
However, they do have a habit of doing these things very late in the evening.
So fairly sure it will be there pdq.
Steve
Re: Axion European Financial Debt (AXI)
Posted: September 15th, 2023, 3:55 pm
by bruncher
iWeb has paid this afternoon at a rate of
£0.9140992 per share
Re: Axion European Financial Debt (AXI)
Posted: September 19th, 2023, 7:09 am
by kempiejon
Hargreaves Lansdowne have liquidated the stock and the cash is in my account now.
Re: Axion European Financial Debt (AXI)
Posted: September 19th, 2023, 9:38 am
by tincture
I logged in today to iDealing to discover AXI liquidated and a payment in account.
I'm not too fussed as I bought the dip during the Credit Suisse AT1 debacle.
But I didn't receive ANY comms about this 'corporate action' from iDealing.
(I normally just read the Gilts&Bonds board and have only just found this thread)
Am I alone in not receiving any comms on this issue from iDealing?
tincture