Many thanks Viktor and team! Now I’ve got more reasons than one to get Freetrade Plus!!
Bit of momentum building here…?
Definitely some momentum building now. Whilst there’s still a bit to go yet it’s an exciting prospect!
Big step forward today and derisked further, hoping that this is going to come on line just at the right moment…
Further good news for any fellow HZM investors. All moving along nicely at the moment…
I am currently waiting on Freetrade to advise further but thought I’d post on here a) to let anyone else who it may effect know and b) see if anyone else has had an answer.
I have gone to add to my HZM position this afternoon but was unable to do so with the Buy button greyed out. After querying this with Freetrade they have advised "We have since had to remove it due to technical reasons relating to the ongoing stamp duty issue.
You can still sell this stock but you won’t be able to buy more and it won’t be available in the Discover tab.
This is quite a blow which hopefully can be resolved (if it’s in freetrades hands) but I was unaware of any ‘stamp duty issues’?
No expert on this, so someone can correct me if wrong
Short answer: HZM stamp duty exemption might have ended recently as it’s listing on TSX (Toronto) means the exemption doesn’t apply.
Long answer: A read around seems to indicate even though HZM is an AIM listed stock, which would in the majority of cases mean it’s exempt from stamp duty as it’s listed on a recognised growth market.
Turns out a listing on a recognised exchange local or foreign mean this exemption wouldn’t apply.
HZM is dual listed on TSX.
From the data/retail investor PDF here - London Stock Exchange | London Stock Exchange
And here, where a spreadsheet is downloadable with a list of exempt shares (linked from the PDF above) - Login - Euroclear
It doesn’t list HZM in there, the spreadsheet does include an exemption end date, so presumably that was recently and Freetrade have to start applying stamp duty going forward.
Thanks for that Ryan, hopefully a temporary hiccup rather than anything permanent then.
20:1 share consolidation (resolution 8) got voted through at the AGM - London Stock Exchange | London Stock Exchange
I have been in communication with Freetrade over the above issue that I mentioned but unfortnuatley customer services can’t provide any timescales on when the problem may be fixed.
It is really frustrating to be monitoring a stock like this and then when your entry point is hit to have the rug pulled from under your feet.
Are any of the community able to tag into the thread an appropriate member of Freetrade staff who may be able to provide a bit more colour as to what the problem is? It doesn’t appear other brokers are having the issue and as a consequence (and reluctantly) is making me think about using my ISA allowance elsewhere for this year.
Even a rough timescale or where it ranks on Freetrade priorities would at least allow some forward planning.
Is there anything further you could add to or expand upon for the above?
And/or when this share might be available to buy again
Assuming it is the requirement for stamp duty to be applied to this (HZM), PAF and whatever other shares might be affected.
Hi @woodyblade. Thanks for the note, I’m looking into it and will let you know if I can provide any further update.
Hi. Quick update - we’re working as hard as we can to resolve this. It’s due to a technical issue related to stamp duty considerations. If there is any further update, I’ll let you know.
Capital at risk
@Rajan07 hi Rajan. Looks like a few of us HZM holders are having trouble accessing the app after the reverse share split today. Stocks won’t load and on the account screen if i try to look at my isa or gia from the dropdown the app just crashes.
Hey. Sorry to hear you had this issue, looks like it’s now resolved. Let me know if you have any further issues today and I can flag to our support team.
Hi guys, can someone explain why according to the stocks graph, this stock falls to around 10pence every few months and then rockets back to above 1£?
I’ve never seen a graph like it (I’ve not been doing this long so could be something that just happens)
Might be worth flagging with support as the data provider has clearly got something wrong.
The last dates on the graph were 28/02 & 01/03 which when you check the yahoo finance data doesn’t show anything like the price in the app.
Google finance looks fine too
Is there any further update on the stamp duty issue?
Heard anything back from this Ryan?
It’s a bit by the by for me now as I’ve opened up an account with HL for this year’s ISA so I could purchase HZM but would be curious to know if Freetrade were any closer to sorting!
Nah unfortunately not heard anything