I had a chat with Boris from 212 this morningā¦ I cant see how they can transfer the shares and then sell; especially if the merger system isnāt up and running.
If they did transfer them and sell that would be wrong so as they cant do anything with GREE shares we will get the market value of SPRT shares.
So we should get the value of the support.com shares at the time of close 14/9, which was 11.74
My sprt shares have been liquidated for Ā£3.87 per share. How is this right?
Hi my shares are sold without my knowledge and lost almost 5000Ā£.what happened i am supposed to hold,i need help regarding this please.thanks
We understand that there is room for improvement in the way similar corporate events are handled. We are actively working towards developing a functionality that will directly distribute shares instead of a cash equivalent, and soon this will be available for all clients.
With regards to SPRT & GREE:
A platform message was sent to each shareholder of SPRT earlier today. As per the deal, each shareholder is entitled to 0.1150 GREE shares for 1 SPRT share held. Therefore, all clients have received the cash equivalent of the stock due, in line with the acquisition ratio, which the two companies agreed upon.
Sprt closed at $11.86 and my shares were sold at Ā£3.87. Why is that?
sprt closed at Ā£11.86 and GREE opened at $102
You have stolen our money
Same situation!!! how is that possible? Something is not right here!!!
I had 49.676637 SPRT shares, worth $589.17 at close ($11.86).
My position was automatically closed at Ā£3.87 ($5.34). So now my $589.17 is suddenly $265.27 and my loss has been crystallised, with no warning.
How was the rate of $5.34 per share derived when it closed at $11.86?
At least if you had transferred and given me 5.712813255 GREE shares I would still be in the market and my loss would not be real.
The average price, which the positions with GREE were closed at is $46.44. The closing price of SPRT holdings is derived, in line with the acquisition ratio specified in the deal - (0.115) e.g. GREE price at the moment of sale multiplied by 0.115 or 46.44*0.115= $5,3406.
Thatās not true is it.
GREE opened at $102, thatās the price at which the ratio should be set, not once itās been trading and the price has dropped.
Your own words ālast available priceā
You have stolen from us, pure and simple
I get that B.E, 212 havenāt got the ability to transfer the shares and place the GREE shares in my account but you can sell and transfer using this equations ok to rip people off.
I understand the transfer prices but these are CFD shares so its a promise to supply Supprt.com shares at an agreed prices, if you cant transfer the shares as you should have then you need to give people the cash value of the contract.
You cant have your cake and eat it with this fake shares!
A contract for difference (CFD) is a contract between a buyer and a seller that stipulates that the buyer must pay the seller the difference between the current value of an asset and its value at contract time. CFDs allow traders and investors an opportunity to profit from price movement without owning the underlying assets. The value of a CFD contract does not consider the assetās underlying value: only the price change between the trade entry and exit.
Last available price is always market close, not market open.
Tuesday 9PM (SPRT last day of trading)
Last available price = $11.86
Wednesday market open (GREE first day of trading)
Market open price = $102.61
Closing price = $43.40
Are my numbers right?
Hereās the opening price of GREE, taken directly from the Bloomberg terminal. As you can see the $102 mark wasnāt reached.
So where did $46.44 come from?
This is making me think twice about holding Xilinx before the acquisition by AMD. So you will sell a huge chunk of AMD shares at an average price which might be lower than the market price of AMD at the time and will credit us the value of of 1.7234 AMD shares per XLNX share at that selling price? Could get messy.
All positions were closed between 14:50 - 15:30 (GMT+1), which is when the average price of $46.44 was achieved.
Why my shares sold without my consent and why I didnāt get shares of GREE instead of funds. I had 60 SPRT shares and I have take losses of over 900Ā£
Check out the Tās & Cās you agreed to. You consented then.
Why was that time chosen? I thought it was last available price?
