Yeah. I think the SPARs might just be warrants under a different name. If so, it’s unlikely they’ll be supported. Shame 
Especially if the tweet is true it will be for all future funds too
This wouldn’t be an issue if FT allowed share transfers to alternative brokers like IBKR for special situations like this where they don’t offer all the benefits. Cash transfers aren’t the most efficient!
Interactive Investor looks like it might fit the bill with support for exchanges in the Netherlands. Will ask them about the other aspects in the morning.
1 Like
Hopefully FT give an update this morning having given them the benefit of the doubt of the weekend. 
@Doyin can you update after your previous comments on this issue not being an issue before?
Again I don’t worry about any voting rights and have purely only ever been concerned that we wouldn’t get the real benefits of SPACS which you reassured me hasn’t been an issue and if it is then SPACs with FT may not be the best platform.
Either way many would just appreciate to know the actual position of our investments. 
1 Like
Hoping given the number of PSTH holders on FT they can allocate some resource to this.
I don’t expect a response until they’ve figured out exactly what’s required and whether they deem it’s achievable. I would imagine this will take weeks given the operational complexity.
TBH that would be shocking service!!! A response as simple as “we are working on x, y and z” would be OK but ignoring concerns is really bad. I want to know if I need to invest elsewhere ASAP, especially in the dip. I would prefer to invest more on FT now. As I have said it isn’t an issue if they can’t do any part of it but they should have clear comms on it.
Think of it as being bank having to adapt to a new tax %, they would inform instantly the implications or plan as customers would rightly be wanting an answer as to how much cash they will have after said tax % issue.
The value of the SPAC deal has real cash value to the FT customers and they need to know if they will miss out on their “interest payments” so to say. Again I am not saying they should/shouldn’t offer the full options but the investors should be informed if they are/aren’t getting the full value of their investments.
Customers would respect FT for being treated honestly even if bad outcome compared to “head in sand” approach followed by “sorry we can’t offer it” and losing out.
TBH they should have a template of what they can/can’t offer on SPAC deals or the potential and send out when any SPAC completes like this for good comms.
Agreed
Most of the time I am contacted through the app so I’d be expecting a notification asap
1 Like
I just spoke to ii who said that the split to UMG listed in Amsterdam wouldn’t be an issue at all, once the new listing was active it would be added to the system and applied to the account ready for trading, but the warrants and SPARs wouldn’t be supported so would most likely be sold when issued and the money added to the account.
4 Likes
What we need is for BA to go on TV and do an interview where he explains why this is the good short and long term investment he hinted at in the WSJ interview.
There’s talk about PSTH Remainco being a solid-state battery company called Blue Solutions that’s a spin-off from the parent company of UMG, Bolloré valued at about the right level for the PSTHr. There’s a document for investors that talks about targeting a US SPAC for making the company public. Could be very interesting if true. It’s said to be in production right now, so about three years ahead of QuantumScape.
1 Like
Now we just need FT to announce something similar 
I had never looked at II before but they look OK, maybe worth getting an account there if they are supporting in this way
1 Like
Buying during that friday uncertainly is paying off now.
4 Likes
Agreed.
I am not sure I agree the process being operationally complex. Spinoffs happen ALL THE TIME. Really disappointing if you are a broker and you can’t process spinoffs.
What is more disappointing is a lack of response.
2 Likes
I imagine this is what FT will do
Should have mentioned earlier, an Amsterdam listing might complicate matters for some North American investors (tax, broker costs etc…)so an ADR might be in play. That would mean that FT could offer an UMG ADR if access to Euronext Amsterdam is a no (Yes the hopium is strong with this one 
). This is the spac of all spacs, that is retail friendly and encourages long term investing (literally)!
1 Like
@acamp seeing as you are the FT Communications Lead and posted the link to the SPAC deal above is there any chance of any answers/details as no-one seems to be replying either on forums when directly asked or through the app by Plus members
It has been 5 days of silence now and not even a “We are working on it” reply. I and others want to know if it is worth investing more etc but not knowing if we get any of the benefits is quite an important thing to know about. It is disappointing I have had to look at another platform to not miss out and if this is to be the normal response on SPACS then it is a shame. 
3 Likes
You got more than I was told as they only said they would ask the Corporate action team and reply as soon as they get an answer and then nothing 
I honestly don’t mind the answer whatever it is but 5 days and no response is just poor as I don’t know wether to invest more.