Polymetal Kazakh listing

Is anyone aware of the intentions of T212 when Polymetal is delisted from the LSE for relisting in Astana?

I would welcome some clarity at an early stage on whether there will be mandatory liquidation , so that we have the option if selling ahead of time.

On quick inspection Trading212 are unlikely to be able to keep custody of the stock if it is moved to Astana as Interactive Brokers (whom the utilise) doesn’t appear to offer AIX Securities. Since POLY have stated they tried but failed to issue Depository Receipts there’s little option but for the LSE line to move over to trade in Astana. Without a useable trading facility and/or custody I don’t see Trading212 can offer anything here except mandatory liquidation. Maybe IB will offer custody of the redomiciled assets though. Who knows. Vote on future plans not til 30th May in any case.

  • If the shares on the LSE get liquidated → we’ll reflect the event on our end.

  • If they get transferred to an exchange we don’t support, positions will either have to be closed or shares kept in the omnibus account until further actions are taken.

This is just general info, though. We’ll have to wait and see how events unfold before we determine the exact steps we’ll take.

In any case, we will keep you posted.

I think i might just sell my Poly, realize the loss and walk away with lessons learnt

Doesn’t seem we can even sell the stock :face_with_thermometer:

edit: can be sold

Can T212 confirm that they are going to issue paper certificates for Poly shares held?

Our custody structure prevents us from being able to issue such documents in paper form. Still, you can generate a Confirmation of Holdings certificate for your Polymetal International holdings at any time through the app.

@Momchil.G
Is there any update on options for POLY shareholders now the vote has been finalised?

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Hey, apologies for the late reply. We’re currently in communication with our intermediary. While we don’t have any news for now, I’ll let you know as soon as there is an update.

Quick update, everyone :v:

POLY on LSE will remain in close only - only sell orders are accepted by our Intermediary regarding it. Furthermore, there are no confirmed corporate actions, and it currently remains listed on the LSE.

Regarding the OTC listing of the stock - AUCOY, it is completely suspended from trading.

Hey, Community - here’s the latest update on the topic :point_down:

Polymetal International PLC (POLY) has confirmed its plans to relocate its domicile from Jersey to Kazakhstan. As a result, it will delist from the London Stock Exchange. The official set date for the delisting event is July 17th, 2023.

As a shareholder, you may choose to maintain your current holdings, or you can close your position before June 30th. While there is no additional information provided beyond the July 17th delisting, positions may be closed after the deadline if the corporate event requires that.

Amazing, you just liquidated my stock at the worst possible price while previously notifying about possibility to maintain the position. So the option of maintaining position wasn’t an option at all?
I have contacted your support before - indicating I am planning to transfer shares to another broker as soon as you finally implement the transfer option. And today I find out about force liquidation with additional 33.5% loss to the date of the initial email about delisting.
Good job Trading212!

:point_up:

That being said, having no position myself, I am not privy to whatever was communicated in the emails about it.

2 Likes

This seems cut-and-dried to me: “We reserve the right to force close any position left in your account after the deadline if required.”

2 Likes

Why not to tell directly “we going to liquidate your position after the deadline”?

I think it was pretty clear the message from T212

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