Personally, I find it astonishing that they are allowed to start trading without ensuring that all investors have received their allocations (or even know how many shares they have been allocated, in the case of those who applied for extra shares). It means that we are completely unable to manage our exposure. Just another example of retail investors being treated poorly. I have raised a regulatory complaint via HL, in the vain hope that the FCA might be alerted, and would encourage others to do the same.
IMV complaining is likely to be counter productive. Regulators already consider retail investors to be incapable of understanding and a nuisance. In recent years the number of instruments that we can trade without taking on professional investor type status has reduced. Retail bonds are in their sights too. In any event are there any more less comforting words that "regulated by the FCA"?
Nothing from HL either yet. Quite cute from the HBR perspective, stop paying us interest from 31/3 and avoid any extra selling pressure in the first couple of days of the share float by taking your time to issue the retail bond holders their shares.
I should have been clearer - I do so agree with hobgoblin. Given that nobody appears to have any clarity as yet, then surely this failure is down to Harbour.
The new CEO is a woman, I think. Bad start for her. Very naughty girls and boys.
Well if the share price keeps falling, then there is the possibility of a class action from disgruntled investors who were unable to sell on launch. In the meantime, I suggest making your views known to Elizabeth Brooks, Investor Relations for Harbour Energy 020 7824 1116 [email protected]
Totally unacceptable. As many of us as possible should complain. You cannot be given shares and not be able to trade anything for +2 days when things are moving so much. FCA should be made aware if this. I'm with ii and nothing there yet (just a few old PMO shares renamed to HBR), but nothing regarding the consent solicitation.
I've received mine in HL now and am able to trade them. Cash payment shown as 'cash due". Overall pretty happy with the return on the Premier Oil bonds that I bought, despite the late allocation debacle. Still think the company should have ensured they were allocated prior to the launch
It must have been because you emailed them. My shares with Eqi still not showing. Mind you I will be glad when ii take over them as I find there administration bad. Only last month when I sold one of my bonds they paid me the wrong interest amount. Good job I checked it. I called them and gave them what for. Net result was a full apology and a £50 credit. Another phone call is now imminent.
After a phone call to Eqi yesterday I was told that the bond cash and the shares would be added by end of business yesterday. The outcome was a coupon payment and shares added but no cash was added, anyone else have any further information, especially if it's with Eqi, thanks
Igor my shares and coupon yesterday with Eqi and was categorical that the cash would be added at close of business yesterday, it was not and still not this morning, as you say, a joke.
ii finally paid up cash as well today, so all settled finally. looks like max shares option turned out slightly better at current prices. Still cannot excuse 8 days to pay cash.....
After my complaint: As per the corporate action your account has been updated upon receipt of the proceeds but in some circumstances there may be delays in the proceeds being credited to us. This is why we advise to allow 10 working days for the update to take place. Furthermore, I can confirm that you should be able to see HBR shares under your investments now and they are able to be traded.
Help please...I selected the default option ie shares/cash. ...so for 5000 of pm01 what amount of shares and cash should I be credited. Thanks in advance
Thanks AJR....you were well ahead of me and worked it out for me...Hope it helps others also who can substitute their holdings of PMO1 and work out their lot......
Comments
And still no news for us from A J Bell.
bond holders their shares.
The new CEO is a woman, I think. Bad start for her. Very naughty girls and boys.
I'm with ii and nothing there yet (just a few old PMO shares renamed to HBR), but nothing regarding the consent solicitation.
@Euro17
It must have been because you emailed them. My shares with Eqi still not showing. Mind you I will be glad when ii take over them as I find there administration bad. Only last month when I sold one of my bonds they paid me the wrong interest amount. Good job I checked it. I called them and gave them what for. Net result was a full apology and a £50 credit. Another phone call is now imminent.
After a phone call to Eqi yesterday I was told that the bond cash and the shares would be added by end of business yesterday. The outcome was a coupon payment and shares added but no cash was added, anyone else have any further information, especially if it's with Eqi, thanks
Igor my shares and coupon yesterday with Eqi and was categorical that the cash would be added at close of business yesterday, it was not and still not this morning, as you say, a joke.
Just received my cash from Eqi. £64.248 per £100 bond.
It is hoped that all will be completed by end of the day Monday.
Hmm.
As per the corporate action your account has been updated
upon receipt of the proceeds but in some circumstances there may be delays in
the proceeds being credited to us. This is why we advise to allow 10 working
days for the update to take place. Furthermore, I can confirm that you should be able to see HBR shares under your
investments now and they are able to be traded.
Received the cash from the return of capital today (finally) but no sign of the coupon or the HBR shares
Is anybody aware to what exercise price the 2017 equity warrants are adjusted to?