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London & St Lawrence
Re: London & St Lawrence
Yes, as I said there are two voting forms on Youinvest (and I assume other platforms). The first one is straightforward enough I think as it relates to whether the Trust should be wound up or not, but the second one for establishing A and B shares does not read to me as an instruction to cash in my holdings, as if you vote for or against it then it would not be clear whether you are voting for your shares to continue in a new unit trust or for a cash option (B shares), my reading is that it is just to establish the mechanism and that a further decision will be needed after this by individual investors on their own holdings and whether they wish a conversion into A or B if these two votes go through next week?
Re: London & St Lawrence
GJHarney wrote:Yes, as I said there are two voting forms on Youinvest (and I assume other platforms). The first one is straightforward enough I think as it relates to whether the Trust should be wound up or not, but the second one for establishing A and B shares does not read to me as an instruction to cash in my holdings, as if you vote for or against it then it would not be clear whether you are voting for your shares to continue in a new unit trust or for a cash option (B shares), my reading is that it is just to establish the mechanism and that a further decision will be needed after this by individual investors on their own holdings and whether they wish a conversion into A or B if these two votes go through next week?
I now have three forms.
Meeting Announcement - Vote 13/04/2107
Meeting Announcement - Vote 05/04/2017
Scheme of Arrangement 02/02/2017
It's the last one that contains the election, and is an old corporate action message which has been updated.
The Corporate Action functionality is one of the worst features of the YouInvest site
P
Re: London & St Lawrence
Wow, so it is, many thanks Peter as I would never have spotted that unless you had pointed out as the first of the three messages does indeed look to have been significantly changed but without showing up as a new message on the Youinvest mail system so there is no reason why you would go back and look at it again, and indeed I didn't as it didn't I'm sure include any vote option the first time it was sent (my memory is that originally it just gave notice of a vote?).
It is utterly disgraceful when you think about it and seemingly designed so that as few people as possible will know about their rights to cash out - but is the underhand way this has been communicated (whether deliberate or not) the fault of L&SL or AJ Bell? I would be very interested to know what communications have been sent on other fund platforms for this proposed trust wind up if anyone else has got the info?
It is utterly disgraceful when you think about it and seemingly designed so that as few people as possible will know about their rights to cash out - but is the underhand way this has been communicated (whether deliberate or not) the fault of L&SL or AJ Bell? I would be very interested to know what communications have been sent on other fund platforms for this proposed trust wind up if anyone else has got the info?
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- Lemon Quarter
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Re: London & St Lawrence
I have a chunky holding held between my SIPP and ISA with Alliance Trust Savings. This morning they have sent me a letter telling me that they will take the cash (no rollover option) and so I need to decide what to do with it. Great pity because I like L & St L just sitting there ticking away.
Maybe some Monks but I would really prefer income.
Payable in the week of 24 April apparently, and of course on 19 April a dividend of 9.5p per share.
Dod
Maybe some Monks but I would really prefer income.
Payable in the week of 24 April apparently, and of course on 19 April a dividend of 9.5p per share.
Dod
Re: London & St Lawrence
Still no Corporate Action on the Hargreaves Lansdown site. It's a pretty poor show!
James.
James.
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- Lemon Slice
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Re: London & St Lawrence
As a directly held certificated shareholder, my forms were very straightforward. Votes to enable everything to go through and a cash option form (which did need to be witnessed).
I'm taking cash as I neither want a unit trust holding nor the hassle of having to go through money laundering procedures which is necessary if I take units. (I asume that is the downside of a direct holding).
I'm taking cash as I neither want a unit trust holding nor the hassle of having to go through money laundering procedures which is necessary if I take units. (I asume that is the downside of a direct holding).
Re: London & St Lawrence
Corporate Actions now on the HL website, but note action required by 10 April
Re: London & St Lawrence
well my Youinvest L&SL holding is now showing as "provisional assented cash" so I must have got it right after all the initial confusion!
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- Lemon Quarter
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Re: London & St Lawrence
So farewell L & St L. We get our final dividend on Wednesday and the following day the company goes into liquidation. Pity, because it has been a good steady performer. All holders will need to decide what to do about replacing it. Current yield has been around 3.8%.
I think I may buy Murray Income at about 4.1% although I may move some money pout of the sector and buy Admiral with a yield (including not so specials) of around 6%. A happy increase in the yield from that.
Dod
I think I may buy Murray Income at about 4.1% although I may move some money pout of the sector and buy Admiral with a yield (including not so specials) of around 6%. A happy increase in the yield from that.
Dod
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