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Ann: Presentation - Energy Fuels and Base Resources Combination, page-158

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DEP

131 Posts.

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27/05/24

11:36

Post #: 74023010
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Originally posted by DEP: ↑

You can get international share accounts through many brokers, and with CMC it is automatically included when you open an account. But that is the issue for us. My understanding at this point is that these accounts cannot access shares placed on the Energy Fuels share registry, and to do that you need a Transfer Agent (check the EF site - they use a company called AST or now EQ..https://equiniti.com/us/ast-access). How that works I don't yet know but it looks as if this type of agent is needed to get your shares transferred from the Company registry to an "accepting" broker (presumably a US broker?). Then you need to organise a broker - broker transfer to your preferred broker account. Sounds rather unnecessarily complicated.

I also have a CommSec account and have requested information from both CommSec and CMC. CMC have been very helpful and I recently received this response from them:

Hi XXXX
Thank you for contacting CMC Invest in regards to your International Transfer query.
Once the merger has been completed the shares will be transferred to the Energy Fuels Inc US registry.
Unfortunately, we're unable to process transfers from international registries to CMC Invest.
The shares would have to be moved from the US registry to a broker that will accept that transfer.
Once that has been completed we can organise an International broker to broker transfer to hold the shares in your CMC Invest account.
If you’d like to transfer your International holdings to CMC Invest, please follow the steps below:
For Individual Accounts
Complete an International Broker to Broker form
Attach a copy of photo ID (e.g. Drivers Licence, Passport or Photo Card)
Reply to this email with the completed form and any supporting documents to submit your request for processing
For Non-Individual Accounts (e.g. Joint, Trust)
Complete an International Broker to Broker form (please make sure all account holders sign the form)
Attach a copy of photo ID (e.g. Drivers Licence, Passport or Photo Card) for all account holders
Reply to this email with the completed form and any supporting documents to submit your request for processing
Things to know
We are only able to accept transfer requests for holdings valued over AUD$10,000 (each) and these requests also incur a fee of $20 (incl.GST) per holding.
Some brokers have different requirements to us, so we may need to contact you for further details or documents in some cases.
Unfortunately, we are unable to accept electronic signatures on any of our forms.
--------------------------

I have also been in touch with Base and they are aware of this issue and are looking into options for Australian investors... that includes themselves!
Presumably some more information will be contained in the forthcoming scheme booklet, but I'd rather understand the process before being rushed at the last minute.
I have requested further info from CMC, and live in hope of a response from CommSec.
It be interested to read what @contraindicator finds out

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My apologies... the second line should read "that is not the issue for us"
BSE Price at posting: 28.0¢ Sentiment: Hold Disclosure: Held
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Ann: Presentation - Energy Fuels and Base Resources Combination, page-158

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Ann: Presentation - Energy Fuels and Base Resources Combination, page-158

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