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.

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

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.