INTU, WDI, TLRD Delisting, money trapped in Stock

Hi All

Does anyone know where i can find future information of when Trading212 will be delisting/Suspending Stocks?

Does the community forum, or the App/Desktop provide accurate updates to Stocks being removed from Trading212 and the date? if yes, please can you advise where i can find this? (An email reply from customer service didn’t answer the question).

TLRD i have money trapped as it was delisted. INTU the same problem so both i can not close my position. WDI i understand will be removed from DAS so trying to ensure i sell before this occurs, however i don’t know if the dates are the same with Trading212.

i understand i need to keep up to date with what is happening with CFD/ISA/Invest stocks, as i do not want to loss £100’s again.

Thank you in advance :slight_smile:

PS: I tried customer service regarding the 3 tickers and received this unhelpful reply:

"As an investor in TLRD Tailored Brands Inc., you are probably aware that on the 4th August, the company was delisted from the New York Stock Exchange. The shares are now being traded Over-the-Counter (OTC). We do not provide access as a rule to OTC stocks, which are not permissible on an ISA. With that being said, please note that we do not have over the actions of the companies. We make sure to notify our clients as soon as there are some changes in certain instruments.

Please do not hesitate to reach us should any further questions arise.

Kind regards,
Mihail M. | Customer Care Hero"

If something is going to be de listed, why would you actually be able to sell? Think about it, in order for you to sell there has to be a buyer - I don’t think anyone is buying a stock which is about to be de listed.

Just asking out of curiosity if you had these in an ISA, are you essentially :pray: that it gets relisted again to be able to sell?

Or can you sell OTC once T212 get access, and the funds from the sale go back to Invest?

Thank you for replying i clearly haven’t asked my question correctly.

You are able to Buy and Sell stock which is going to be delisted up until a certain date via your broker, problem is i don’t know that date. prime example is WDI is trading today and it’s going to be delisted!

TLRD and INTU i purchased march/april 2020, WDI when the financial incident occurred. These companies have been around for years, and i purchased these stocks via my ISA account.

Recently TLRD and INTU are no longer traded on Trading212 (i assume the same with other brokers), however i have money tied up in them. i understand both were delisted/suspended which is the reason i am unable to remove my funds (i’m aware i am unable to release these funds via Trading212).

WDI is to be removed from DAS soon, i haven’t been able to find information within the community or via customer service when this will effect Trading212 WDI positions. i would like to sell prior, rather than experience as i have done with INTU and TLRD - which is my finances being trapped.

Hi Phil

Thanks for replying.
No i’m trying to find out if Trading212 informs customers of the dates when they are going to make a stock unable to purchase/sell (delist/suspend tickers).

My question to customer service was when will the WDI be delisted/suspended on Trading212?, and if there is somewhere on the platform that keeps customers informed of pending delistings?, as i had experienced funds being trapped in INTU and TLRD i do not wish to experience the same again.

I included customer service reply as it stated “we make sure to notify our clients as soon as there are some changes in certain instruments”.

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Yeah it was more a question from myself if anyone knows the answer too.

If you had stocks that were inside an ISA and it delists to OTC are you then trapped as OTC is not permissible in ISA how could you then sell?

Good question… definitely worth posting in the community.

Hopefully someone from @staff @team can answer the questions we have.

There must be information somewhere as i know i’m not the only one its happened to, someone posted about another stock that was removed, but the answer was that it was now an OTC unable to be traded on T212 (in short).

Hello,

Delisting from our side is handled after we receive an official confirmation on such events, the happening of which we cannot foresee as certain, therefore, we are not able to inform/warn you for them beforehand.

In the event of delisting:

On the CFD platform, in most cases, the stock will be temporarily suspended, which will cause the positions of clients to become locked with the intent to provide access to later trade them on OTC (If practicable). If not, they will be closed on the last available market price.

For Invest/ISA we strive to provide the ability for closing your already opened positions on an OTC, unfortunately for ISA we are obliged to comply with a 30-day timeframe since the delisting, in which the client can close the positions by himself (@phildawson might find this useful) and if he doesn’t, we perform a mandatory closure. On Invest accounts there is no such timeframe and positions can be held indefinitely.

We are working on providing feed and full tradeability on OTC markets, to prevent such limitations.

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That is useful to know there’s 30 days thanks. Hopefully never have to do that, I assume it’s mandatory so that you are not trapped unable to close your position.

Hi Peter

Thank you for replying, to clarify all 3 positions mentioned are on my ISA. Apologies i don’t understand the reply, does this mean i have 30 days after the company is delisted to close the position with T212?

Please can you advise what date i will Not be able to sell my WDI position on ISA or on CFD?

Please can you advise if i have loss the shares/money invested in INTU?

I understand TLRD is now a OTC, how do i access these shares?

I was hoping there would be an email, or area within the community which customers could view, which updates us to when companies will be removed/sells of shares will be stopped via our T212 accounts.
If there is, please can you let me know where i can stay up to date? if there isn’t, please can you take it as a suggestion, as its very disheartening to not be informed that T212 has stopped the sell of a stock until trying to close the position.

Thank you :slight_smile:

Hello @Hectares,

Will answer question by question for easier comprehension:

Please can you advise what date i will Not be able to sell my WDI position on ISA or on CFD?

We cannot foresee when and if it is going to be delisted, so we cannot disclose any information on the matter.

Please can you advise if I have lost the shares/money invested in INTU?

This is yet to be cleared out, but most probably all investments or a major part of them in the stock will be lost.

I understand TLRD is now an OTC, how do I access these shares?

If you have an open position on TLRD in an ISA account, you have time until the 3rd of September to close it by yourself on an OTC (for which we cannot provide feed, so an external check of the price before selling would be most suitable) or a mandatory closure will be performed from our side. Opening new positions on OTC is not available at the moment.

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Good morning @PeterA thank you for your reply.

WDI will be removed from DAX on 21st Aug. i was trying to understand how T212 manage the delisting process in general, ie: must be sold prior to delisting date or funds trapped? customers have upto 30 days after delsting to Sell before funds trapped, T212 send an email/post in the community notifying funds will be trapped etc.

Thank you regarding INTU. I’ll look into TLRD of how i can sell.

I’ve left feedback in one of the forum post - if T212 can provide information of delistings in future so customers no when to sell by.

@staff

Please can i have a reply regarding WDI.

Thank you :slight_smile: