SIPP lost shares
Posted: October 1st, 2021, 9:58 pm
In my Barclays Wealth SIPP I owned 111,617 Asian Citrus Holdings Limited shares. I understand that the LSE suspended trading in this company on 29 September 2016. On 1 September 2020 the company resumed trading on the Hong Kong exchange.
My SIPP provider said I can’t hold the Hong Kong shares in my SIPP.
They say “ in order to receive the Hong Kong shares I would have needed a certificate which is not possible in a SIPP as under SIPP regulations you can’t remove stock only cash”
Also they said “We also can’t just sell the shares as what you hold now is the UK line of stock which is delisted and not trading”
They conclude that there is nothing they can do “unless they start trading again in the London Stock Market”
I understand that other shareholders have received share certificates in the Hong Kong listed company. It seems wrong that I loose my shares simply because they were held in a SIPP.
Any thoughts or advice would be really appreciated.
My SIPP provider said I can’t hold the Hong Kong shares in my SIPP.
They say “ in order to receive the Hong Kong shares I would have needed a certificate which is not possible in a SIPP as under SIPP regulations you can’t remove stock only cash”
Also they said “We also can’t just sell the shares as what you hold now is the UK line of stock which is delisted and not trading”
They conclude that there is nothing they can do “unless they start trading again in the London Stock Market”
I understand that other shareholders have received share certificates in the Hong Kong listed company. It seems wrong that I loose my shares simply because they were held in a SIPP.
Any thoughts or advice would be really appreciated.