On the 4/9/12 I bought 1500 shares @ $1.54 = $2339.95
On the 5/9/12 I bought 3000 shares @ $1.46 = $4409.95
So I have a total of 4500 shares
On the 7/9 settlement took place for the 1500 shares
On the 10/9 settlement took place for the 3000 shares but on the 12/9 it got rejected because I had insufficient funds in my account.
I get a letter from commsec saying ring us urgently to make arrangements for this account or we will sell your shares to the value of the outstanding amount.
I rang them at 12.38pm that afternoon and spoke to a consultant. I told him that I deposited the extra funds into my account and for them to settle the transaction. I told him I am aware of the rejection fee and also the early settlement fee, which I was happy to pay. He said that he would organise
the trade to be settled by the end of the day.
I got home from work that afternoon and I had an email saying that they have sold 2170 shares @ $2.11 for a total of $4518.75 incl. brokerage.
I sent them a return email regarding the discussion I had with the consultant and told them to check their telephone recording. I also requested that they re credit my account with the shares sold and at the original price that I paid for them.
They said that they made a mistake and said that they would fix the error.
What they have done is re purchase the 2170 shares on market at a price of $2.15 and they have debited my account for $4665.00.
My question is, my average price that I paid for 4500 shares is $1.49.
So shouldn't I be reimbursed the difference of $2.15 minus $1.49 which equals 66cents x 2170 shares which equals $1432.20.
If somebody could help me please to see if I am right or wrong.
cheers
flinders
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