They are transferring it:
Good news.
I thought as much but wasnāt 100% sure
I presume there isnāt a charge for transferring to GIA
I think they would have said if there were, hereās hoping I donāt get a charge! Iām a plus subscriber anyway and Iāve got a SIPP with Freetrade, so I pay an amount each month anyway that I would hope would cover anything like this.
Iām still a little confused, if it was a standard NASDAQ listing GGPI why did it deSPAC in PSNY and suddenly become an ADR. Which other exchange is it listed on? Canāt find anything online that helps.
Puzzled me too!
I think the answer is here
https://sec.report/Document/0001193125-22-179037/
Wat WoT?
Yeah notice at the top you see this:
so what? Look at what the * means:
And this is the point: the underlying shares canāt be traded. And that is the fail as far as HMRC ISA rules are concerned.
I think that solves the conundrum. But if anyone with more knowledge can add insight please pipe in.
Exactly. The new $PSNY ticker is also officially traded on Nasdaq - even had an official opening bell ceremony this week.
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Even if it is an ADR where the underlying shares are listed somewhere else (where exactly, canāt find anything), isnāt this ADR being officially on Nasdaq enough to be eligible for ISA?
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In case we get a solid confirmation that it is now GIA only, I would like to opt out of automatic share transfer from my ISA. This would decrease my ISA balance without increasing the 20k allowance, so I would prefer to just sell and rebuy. In that case though, Iād love an option to sound laying 0.45% commission raise (sell+buy).
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I also find the text in the latest notification quite dishonest: it says āfurther to our previous notificationā¦ā where we never actually received any notifications, buying hot restricted and the users had to found out from here. I did not even know that I had to register for this forum separately as I never use it.
I posted something similar Neil (bit as Iām new itās awaiting approval as Iām new to the forum). An ADR is allowed right as long the underlying shares arenāt traded on another exchange. Which PSNY isnāt as far as I can tell?
Iām confused. I received this message as well, however polestar is on the NASDAQ which is an exchange recognised by HMRC to be held in an ISA. Whatās going on?
Thatās not quite right. For ADRās to be eligible to hold in an ISA, the underlaying shares have to be tradeable on an exchange recognised by HMRC. As Bitflip has mentioned above, the ordinary/common shares arenāt tradeable, which therefore would therefore make it ineligible to hold in the ISA.
I had this message this morning when I opened the app. Looks like theyāre transferring them automatically for everyone. Just all seems like an odd thing to happen given the Gores shares were eligible, why has Polestart now moved them to an āunusualā or different listing. Strange.
Donāt think Polestar has Moved anything, the SPAC shares were shares in a separate shell company that merged with Polestar. These were exchanged for Polestar shares
Thanks for that, I wrote this before he helpfully explained. But my message only just got approved. Yes, it makes sense now. What a pain though.
I am so pleased I took my 10% pop in my GGPI investment and ran as now PSNY wont be in the ISA (CGT protection)ā¦bullet dodged!
Production heading in the right direction.
And sales.
Any chance things can ever change and this some how becomes available in an ISA? Or is that impossible now?
Youād need a change in government rules around ownership, Iād say it would be unlikely.
35% down on my shares ⦠is now a good time to buy more or sit tight and prey.