Hi, I own PRIW Amundi Prime Global in my ISA account and I’ve just notice a note saying its been aquired. Looking on the Amundi website its saying its no longer going to be listed on the London Stock Exchange therefore it wont be available to hold in an ISA.
Can you tell me what will happen to the position I hold in my ISA please?
That’s a shame, last I looked PRIW was the cheapest developed world tracker around.
As the ETF it’s being absorbed into isn’t Isa-eligible, and you’ve not sold, I’d imagine T212 will have to sell the shares on your behalf.
The article below covers the situation very well.
Thank you for this, its much appreciated.
It would have been nice to be given some notice, rather then find out today.
I was also surprised by this. InvestEngine warned its investors to sell before the merger. Why didn’t Trading 212? Now, PRIW assets are frozen.
The merger was completed on 22 November. How long are our assets going to be frozen?
Yes and I’m in the same situation with Centamin which was aquired by Anglogold last week.
T212 does some things very well, but this freezing of assets plus some other issues/changes I’ve noticed has made me lose confidence in the platform.
I’m in the same boat on PRIW - only noticed the delisting info today and didn’t receive any heads up from T212.
I started a chat with support around midday but still haven’t had a human reply.
As an ISA shareholder, should we be worried about this line in the Amundi notice to shareholders?
Your existing investments in the Absorbed Sub-Fund will no longer benefit from tax exemptions such as those enjoyed in the Individual Savings Account (“ISA”) wrapper (see below).
Does that mean, if and when T212 are able to sell on my behalf, I may be liable to tax on the profits?
Im no expert, but I doubt they would move PRIW to your non ISA account.
I contacted T212 on the chat, and after an initial pretty poor response, and after looking into it further they got back to me and said that they are waiting for the final terms of delisting before releasing the funds. They mentioned they will inform any shareholders involved once they have more information.
Although not exactly reassuring, from previous experience they tend to be released in cash into your ISA.
I do think T212 have been pretty shoddy with communicating in advance about this. Its probably because there are many funds, shares etc. currently being delisted and they have to work through them in reality.
Why there should be any real delay on this other then the above is annoying, as the information on delisting has been released as far as I’m aware.
I held shares of CEY.L, which was acquired by AU. The last day of trading in CEY.L was 21.11.2024. Under the acquisition agreement, it was agreed that for each CEY.L share, 0.125 USD in cash and 0.06983 AU shares would be acquired. Under the agreement, which is clear below, the share price is defined so that the value of the CEY.L share is 163 pence per share and 28.80 USD per share for AU on the valid valuation date 9/9/2024. Does this mean that the actual transaction date is 9/9/2024, that on that date I sold the CEY.L share at a sale price of 163p per share and that on 9/9/2024 I bought the AU shares at a price of 28.80usd at a ratio of 0.06983 per CEY.L share?
• Under the terms of the transaction, Centamin shareholders will be entitled to receive:
for each Centamin share:
0.06983 New AngloGold Ashanti shares; and
$0.125 in cash
• The terms of the transaction value each Centamin share at 163 pence based on the closing
Price of $28.80 per AngloGold Ashanti share and an exchange rate of ÂŁ:US$ 1 ÂŁ:US$1.3080
on 9 September 2024 (being the last business day prior to the date of this announcement) (the “Offer Value”).
I’d certainly like some answers regarding this and PRIW but we’re not getting anything from T212 on this forum. Would anyone from T212 like to comment perhaps?
Trading 212: Is there an update on this? When can we sell our PRIW holdings? Or when will you sell them on our behalf and distribute the proceeds?
Seems a messy technicality triggered by Brexit. The new fund will not/could not be Passported to the UK. I don’t truly understand it but it partly makes sense. See here >>> https://www.amundi.lu/retail/files/nuxeo/dl/4d2deea8-1176-4b36-ad51-18dd4b394df1
Can we get update from T212 on this please? Getting a bit frustrated with nothing happening.
Over on the Freetrade forum, they have provided an update that they expect the new shares to be ISA eligible and an application to admit the new shares to the LSE is being processed. The new shares will likely be available to trade in early January. I imagine that it will be similar for Trading 212.
I’m still concerned about this. The Freetrade comment is the most optimistic I’ve seen so far.
The event has been executed. As per the terms of the deal, shareholders received 1 share in MWOL for every 1 share of PRIW they held. Amundi Prime Global UCITS ETF DR positions were closed at GBX 0 per share.
We contacted the ETF issuer to discuss and clarify the fund’s status. Currently, the ETF is registered for sale to UK retail clients and has a UK KIID document, allowing clients to continue holding it within their ISA accounts. In case of any changes, we’ll notify further shareholders.
Thanks. What are the tax implications of this for prior PRIW holdings in a GIA? Does the fact that PRIW was sold at ÂŁ0 per share mean that there are none (i.e., no CG)? If I sell MWOL, will CG be triggered?
Thanks for the update, @Bogi.H, and also good to see the accumulation version (F50A) available, too and ISA eligible.
Thanks for letting us know.
@Bogi.H Why does T212 only offer the EUR versions? Is the GBP German based ETF not available on IB currently? Was the conversion to EUR without T212 currency conversion fee applied?
Amundi have said they hope to open LSE listed GBP equivalents of both Dist and Acc by end of January. Will T212 give us an option to do a free switch to these instead of keeping the EUR German alternatives?
Amundi said “This may present an option in the short term for Hargreaves to transfer the remainder of your holding to this listing where you can then proceed how you would like at no extra cost.” although I never mentioned Hargreaves
This is a corporate action in which 1 share of a new security is distributed for 1 share of the old security. It is not related to a sale or purchase of shares for which an FX fee may be applied.
About the above - should such instruments become available to offer, we could add them to our app. With respect to the corporate action, we have distributed the exact shares of the ETFs that were distributed to us. Transferring a holding to an alternative currency line is not something we currently offer.