The DRS statements were sent by Computershare around December 7 (which is only 6.5 weeks ago, not 2 months) and according to my Aussie broker the mail from Computershare spent more than 3 weeks in Australian Customs. So if Customs hadn’t sidelined your mail then you would have received it 3 weeks earlier. That’s unfortunate but I can’t imagine too many shareholders would hold Joel responsible for Aussie border control, do you?
As for no Australian being able to trade yet that’s obviously not true either as you’re now hearing from multiple sources. And the handful of Aussies I speak to are all trading after following a process that has been very simple. I see so many sarcastic comments about “seamless”. That word doesn’t imply that the process occurs without your involvement. Be realistic, you have to follow the process, read the paperwork and take time to work through it. I’ve got a lot more than $100k invested in Incannex but even if was just that amount I’d still put time aside to read all the information. I’m sure there would be lots of punters on this thread who invested time working through all paperwork to understand the required steps and hopefully they’re benefiting from that approach.
In respect to your missing shares, this issue has been discussed. Are you aware that a group sold IHL naked on the last day and could not settle? That’s obviously a complete cluster, but it’s also the responsibility of your broker and the short seller to fix, certainly not the company and probably not Computershare either.
At the end of the day, if you are using an online broking platform then you are choosing to manage your own money and all the associated paperwork. So when you encounter a change like this then it’s your responsibility to work it out yourself and additionally when you pay next to nothing to transact I wouldn’t expect anyone at that broking platform to be much help.
You had months to prepare, the company literally supplied all the information you require and they provided every shareholder with an opportunity to meet and discuss the process. That is where their responsibility to you ends. Have a look at how some companies, like Bionomics handled the process. Their shareholders didn’t even have an opportunity to vote.
I have a full service broker, I pay for advice and the process has been easy. And I’ve had access to my stock for a long time, some of it within the day of NASDAQ trading (but that’s another discussion altogether). Yes, there were steps and paperwork but all very simple and straight forward. And if you’re with Commsec then you have a bigger problem than just your missing shares, because according to the comments on this thread they changed their International trading policies recently.
Good luck with your email, but getting all fired up at the company probably isn’t a great strategy. I’ve never understood someone asking for help in an aggressive, entitled manner.
Personally I’d prefer the CEO continues to focus on building the business, which adds value to my holding and yours. And that includes the significant time investment of the SF conference and the interesting timing of the transaction that occurred last week.
IHL Price at posting:
4.1¢ Sentiment: Buy Disclosure: Held
