Having had BDR shares with ANZ and Westpac and making further enquiries it is clear to me Computershare Canada's letter is extremely misleading and at worst disgraceful. I am referring to the sentence starting "To trade New Great Panther shares ......
If the broker you use here uses a custodian for international shares then this sentence is wrong ie you cannot transfer the shares easily. ANZ, Westpac and I think NAB do use a custodian (anyone know if CBA do?) so this would adversely affect a lot of us.
I am advised the only way to get this sorted is to open a US/Canadian broker account and only then can ANZ etc transfer the shares here. Not only will this be painful but for anyone like myself who holds their shares in a superfund opening such an account will be horrendous. I have queried whether a US broker would do a one off transfer like here but have been advised the process will be even more difficult as extra safeguards are in place.
For what it's worth I will get in touch with Computershare Canada for what it's worth.
Anyone had any success yet? or have an Oz broker who doesn't use a custodian?
BDR Price at posting:
6.5¢ Sentiment: None Disclosure: Held
