Hi Guys
With no news regarding AMAL/TAWANA merger for JSE shareholders we have a few concerns... and require some advice regarding the possible option of transferring shares over to the ASX.
I have also emailed Tawana and await their response...
With the possible option of transferring shares to the ASX we would need a broker in Oz to assist in the electronic share transfer process. Any suggestions on which OZ broker/s we can use that can advise and assist in the transfer which have experience and knowledge within this transfer scenario and provide expedient service at a reasonable rate?
Some of the concerns we would appreciate some experience/feedback/knowledge or advice on:
* Do you think Tawana will delist from JSE?
* Do you think Tawana will effect a buyback for all JSE shares?
* Is the possible option of transferring to ASX worthwhile? re:Fees are applicable to tranfer shares out of JSE and transfer into ASX.
* Having share certificates in a unlisted public company will pose some challenges regarding sale of shares and lack of liquidity in trying to find willing buyer/seller through an administrator!
See my mail to sharechat forum below:
Dusty Mountain, on 05 Apr 2018 - 10:09 AM, said:
Trying to get dual listed Tawana JSE shares transferred to the ASX seems to be quite a frustrating process, neither my broker (Standard bank online share trading) or the administrators seem to know the exact protocols involved?
STD OST: Been 2 weeks with no positive resolution, now escalated to broker settlements and await their feedback... update = shares can be transferred electronically, shareholder to give instruction and appoint OZ broker to facilitate.
Computershare: According to Leon Naidoo,
- our brokers need to receive our instruction to materialise our shares and we receive the share certificates.
- We need to take the share certificates to our bank that can accommodate exchange control and get them stamped "non-resident".
- Our broker them need to apply to straight regulator for the removal process and to have the shares (assets) removed from the JSE.
- Our broker then need to apply to Exchange control to have the shares (assets) transferred to Australia, we need a ASX broker to assist in the process.
- Comply with Australian exchange control through broker.
- Tawana share registry administrators in Australia need to incorporate our shares onto the Australian share registry.
- Australian broker can then assist to dematerialise shares onto one of the ASX trading platforms
Dont take my word for it that this process is 100% but at least gives us an indication of the way forward until we receive more information to shed some light on this matter.
I implore all JSE shareholders who are interested in this endeavour to contact your brokers and we can share the information to assist each other.
This I feel is really important as should Tawana delist from the JSE, we will receive our share certificates of a unlisted public company, which can still be traded willing buyer/seller through either a appointed Tawana administrator or if no administrator appointed we could use a lawyer. This imo will have a negative effect on the price we could sell the shares for...
I have sent a email to Tawana australia to assist and advise us in this possible predicament.
Please email [email protected] as concerned shareholders to request clarity on this matter and the options on moving forward...
The more people email the quicker we will receive a reply to our concerns.
- Forums
- ASX - By Stock
- TAW
- Merger repercussions for Tawana JSE holders
Merger repercussions for Tawana JSE holders
-
- There are more pages in this discussion • 65 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)