I’ve added the link for anyone interested Shareholder Meetings — Greatland Gold (LSE:GGP)
Hoping that in line with ASX listing it will only be going one way
So 100 shares at £1 with a 20:1 consolidation as per GGP will mean you have 5 shares worth each about £20.
In other words, apart from normal share price movement up and down, the total value of your investment will be the same as now.
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Are we confirmed to have our newly consolidated shares in the newly formed company?
Also in theory, Freetrade customer support probably won’t tell us anything cause in theory it’s financial advice. Them telling us that greatland resources is staying on Freetrade is financial advice..
Exactly the same with me, they didn’t give a clear response just that their keeping eye on situation. They have just released a massive document on what’s actually happening. It’s being taken off AIM 19th June then reinlisted on aim as greatland resources 23rd June. It’s all a bit confusing. It should stay on Freetrade, I think we are overthinking it all a bit. If it’s on the uk market still, it will remain here too.
My highest percentage of holdings in the mining sector is in greatland, it’s got so much upside potential. And a very promising future. It should stay on here.
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Yeah, in theory, it shouldn’t change.
That said though, external factors around the changes can have an impact, plus there is a fair amount of negative sentiment around share consolidation as it isn’t always done in an investors best interests -not saying this is the case here as i don’t know enough about the proposals, which i probably should read at some point as i do have a few here.
I agree there are dual AIM-ASX listed companies on freetrade, plus also they do handle share considations as well. So I’m not particular worried.
I would only start worrying if there were noises about them listing only on ASX.
When it is dual listed am I correct in thinking that stamp duty will have to be paid on U.K. share buys ? Only potential downside I see.
Heading towards topping up territory for me.
Really starting to drop back surprisingly when gold spot price is one and a half percent up today. Any thoughts?
Maybe folk know they can jump in again nearer to ASX listing time without the price being to different ?
It’s nothing to do with the ASX dual listing that I’m bothered about. It’s the fact that the company is a new company. Freetrade do not have all AIM listed shares available and they are slow at adding new ones, GGP for instance I’d asked for it long before it was out on Freetrade. I have zero confidence they’ll be good to go for live date and therefore if they haven’t got it registered to trade on Freetrade when the consolidation happens our shares will be sold at current value, that’s all very well and good but there is a good chance that the moment it goes live as a dual listing there will be influx of buys. So let’s say Freetrade sell at 16p and you have 200 shares you’ll get 32 quid whereas you should have got 10 shares in the newly formed company at 3.2, let’s say the share price instantly rises to 4 quid, by the time you’ve purchased your shares back on another broker you’ve already lost out.
I’ve given them till the end of April then I’m transferring the whole ISA to another provider
Just to clarify that it is NOT a dual listing, it is a cross-listing.
Dual listing is two separate companies, whereas cross listing is one company (Greatland Resources) listed on two exchanges.
It’s an important distinction.
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Got this response from Freetrade - Hi Parrish Thanks for getting in touch! Our wider Corporate Actions team has advised that for Greatland Gold Plc, we are still monitoring the scheme and once full details are released in the market we will update customers on anything that affects their positions and options. We do need to clarify that the actions taken by the company is something completely out of Freetrade’s control. We also don’t know about these events before they happen and we don’t have any powers to affect the decision making process of the company in question. However, as soon as we have more clarity released in the market, we will update customers as a priority. Thanks for bearing with us and please let me know if there’s anything else I can help you with!
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When would GGP move from aim to another section, ie FTSE or similiar. Is that purely based on earnings orrrrr?
Pazza - roughly the same response they gave me, it’s a cop out. All they need to do is decide they will add the company and it’s ticker in advance of go live the same as every other broker. Why they can’t confirm it is beyond me.