Voting from abroad - problems?!, page-42

Currently unlisted. Proposed listing date: 4 SEPTEMBER 2024 #

First 42 Last

Share
Profile

Follow
applesanddiamonds

610 Posts.

141

16/08/22

14:50

Post #: 63144088
Share

Originally posted by tony79: ↑

Hi

As I mentioned in one of my early posts. I don’t know the system in AUS but here in Switzerland we hold the shares in our own account/custody account in my name with a bank. The bank can also be the broker and/or the custodian. We are always informed by our banks directly and normally never directly by a company for CR’s, Mergers etc.. We don’t use HIN or SRN. The bank informs us about the company event (we call it “corporate action”) and than we gave the bank the instruction how to vote in our name. The bank/broker/custodian passes this information forward. Don’t know if it has also to do with the Swiss bank secrecy that we have the bank in a middle function. That’s the way how it works here. So we never deal with companies directly or vote via Atomic etc.

The special thing in this case is, that for the first time (I never, never had this situation, also not with other AUS shares) the banks did not inform us proactively about the voting and so did not give us the possibility to vote. As I heard from a family member (and on HC also from Ravanelli) the banks told them that the acquisition is mandatory and we just would receive the cash as soon as available… who gave the banks in a first instance this wrong (SWIFT) information that they did not start a proper “please vote corporate action”?

As I said, my friends and I work or worked for Swiss banks and we all can’t understand what’s going on…
Really strange…

BTW: TK was so nice and wrote me (after my second request) back from the RAP IR-e-Mail-address asking me to contact my bank/broker/custodian if I don’t hold the shares directly and so don’t have a HIN/SRN… we in Switzerland as explained don’t hold the shares directly.

So well I’m turning in circle… and with the time difference now it’s quite game over for my/our voting…

I have to sleep now… it’s 1.44am

Cheers, Tony

Expand

thanks tony, appreciate the clarity. Sounds very difficult to navigate.
I’ve lived abroad for 30 years but still deal directly with Nabtrade and a AUS based broker.
By virtue of this, I am in the loop just like I would be in Australia.
In addition, if you are a ‘non resident for tax purposes’, you will not pay tax on capital gains in share trades. (I am quite sure you are fully aware of this)
A lot simpler by a long shot and profitable too..
Best wishes to you. I am sure all will work out.
In any case, I am sure the NO vote will be carried.

RAP Price at posting: 18.3¢ Sentiment: Buy Disclosure: Held
4 Upvote

0 Great analysis

Reply

Top Stories

Week 34 Wrap: HotCopper's top watched; Oz banks cut saver interest; Kamala’s 28% corporate tax; AI’s back

CC9

Chariot locks in high-potential drill target at Black Mountain, one of the USA's largest lithium landholdings

Why are so many ASX explorers setting up shop in Saudi Arabia? + 8 stocks to watch

SER

How flooding did Strategic Energy Resources a favour: Four holes down in 'redesigned' gold & copper campaign

The Rising Tide: How institutional adoption is shaping the future of crypto

There are more pages in this discussion • 2 more messages in this thread...

First 42 Last

Add RAP (ASX) to my watchlist

Voting from abroad - problems?!, page-42

Top Stories

Week 34 Wrap: HotCopper's top watched; Oz banks cut saver interest; Kamala’s 28% corporate tax; AI’s back

Chariot locks in high-potential drill target at Black Mountain, one of the USA's largest lithium landholdings

Why are so many ASX explorers setting up shop in Saudi Arabia? + 8 stocks to watch

How flooding did Strategic Energy Resources a favour: Four holes down in 'redesigned' gold & copper campaign

The Rising Tide: How institutional adoption is shaping the future of crypto

Featured News