Save Dragon Oil
Rescue Dragon from the clutches of ENOC
Nominee Accounts
The idea with this page is to share your experiences registering your nominee votes to make things easier for others who may use the same broker as you.
Please comment below with details of how you voted at your broker.. email addresses telephone numbers and how the conversation went and the experience in general.
Why HSBC sucks
Just thought I’d single out HSBC including their FirstDirect brand (and probably every other brand they operate under); Basically HSBC is refusing to allow any of their clients to vote against this deal. HSBC is owed £11 billion by Dubai and also were involved in arranging and recommending this takeover scheme. I certainly will never be using HSBC again and I would advise anyone who is currently using them to start looking for alternatives. How can anyone do business with a firm that deliberately works against their client’s interests in this manner?
November 20, 2009 - 6:10 am
Natwest stockbrokers have just launched their on line voting. Click on the maintenance tab and then voting and information preferences, looks like it will be live today, Friday.
November 20, 2009 - 9:04 am
With respect to nominee accounts, Barclays Stockbrokers online have a detailed FAQ section on “Corporate Actions”.
With regard to takeover bids, Barclays Stockbrokers should send out the respective “Corporate Actions” letter (not the offer document – you have to request that) to which the shareholder must promptly respond to – because they have to process many of these before the meeting deadlines:
– Why is Barclays Stockbrokers deadline for reply different to the registrars?
We need to be able to process the instructions for all of our clients so we can send the completed documents to the registrars in time to meet their specific deadline. The cut off date by which our Corporate Actions team must receive clients’ instructions is usually 5 business days before the registrars deadline date for the offer.
We cannot guarantee that your instructions will be processed if your instructions are received after our quoted deadline. –
– How do I respond?
You can either send a secure e-mail through ‘Contact Us’ , telephone or fax our Corporate Actions team or tear off the slip provided and mail it to us. –
I hope the above information is useful.
Thanks Robert for setting up this section.
November 20, 2009 - 9:07 am
I have just logged my response by phone to Barclays Stockbrokers (Corporate Action Line 0141 352 3971).
The guy on the end of the phone didn’t know about the date of the meeting, however, he has taken my vote and will lodge it with the Corporate Actions Team.
Oh yes, and I voted “No”. Obviously.
November 20, 2009 - 9:07 am
IMPORTANT Re last post: “meeting deadlines” should have read “registrars deadline date for the offer”
November 20, 2009 - 1:55 pm
Registered my NO votes by phone for my ISA with Selftrade, and for more with Hargreaves Lansdown and Selftrade not in ISAs. I have tried to buy certificated ones locally, but NatWest, Barclays, and HSBC banks within 50 miles were unable to do it – the joys of living in wildest Wales !
November 20, 2009 - 7:14 pm
I have just contacted my brokers iweb (nominee account) with whom i hold DGO shares and asked if i would be able to vote no.
They told me they could set in motion the appropriate settings on my account to enable me to vote, but did not think that this could be completed in time for the meeting.
I pleaded with them to at least give it a go.
if possible that’s a ‘No’ from me………
i pleaded with them to
November 20, 2009 - 11:37 pm
Have asked twice by the message facility on the account for a “NO” vote to be registered – they have not read my message yet.
Will be phoning and asking for confirmation on Monday
November 20, 2009 - 11:39 pm
http://www.iii.co.uk
Although they have put a note on “corporate actions” part of my account, they have not sent me any forms yet – they did tell me these would be sent via the post although “glo” on iii bulletin board had a different answer from the same people!
November 23, 2009 - 11:04 am
I have DGO in both ISA & Dealing account with III. I have asked them to send any voting documents for DGO. I have also mailed them at iiaccounts@iii.co.uk. The reply was a customer team memeber will contact me.
November 23, 2009 - 2:32 pm
re selftrade –
Received this response – (Don;t like the response)
Dear Mr XXXXXXXX
Thank you for your message.
I have insured that your election details have been passed to our Operations team. This vote is taken on a best endeavours basis.
Further information may follow in due course.
If you require any further assistance, do not hesitate to contact us.
Kind regards,
Marc
Selftrade Customer Services
November 23, 2009 - 3:44 pm
Hello once more,
I have been in touch with my stockbrocker
Jarvis Investment Management Plc.They have
informed me that they will issue a NO vote
for me re: ENOC t.o. bid for DGO but will
charge a fee, good eh,but must go for it.
Imatome.
November 23, 2009 - 5:33 pm
anybody hold DGO with idealing
they are charging me 30 GBP
this seems too much to me
any suggestions guys
November 24, 2009 - 9:05 am
I have my Dragon shares in an ISA with Barclays Stockbrokers. I have not yet received any correspondence about the bid, has anyone else?
November 24, 2009 - 2:52 pm
My shares are in HSBC InvestDirect. Their response to my asking for voting forms was as follows:
–
Thank you for your email dated 02 November 2009
Please be advised that, unfortunately, as you hold your stock in
a nominee account we are unable to process AGM/EGM Requests.
To be able to participate in this you would need to hold your
shares in an ISA.
Yours sincerely,
Nick Cashmore
Senior Investment Services Manager
–
The stuff about ISA is confusing nonsense, as the response to my subsequent request for clarification reveals:
–
Thank you for your email dated 6 November 2009.
I can confirm that you will have the right to attend an AGM if
your shares were held in your own name, as a share certificate.
In order to arrange this, the shares would need to be transferred
out of HSBC InvestDirect and sent to you in paper form. You would
then not be able to sell these shares through the InvestDirect
service.
Please advise further how you wish to proceed with this.
–
… so I asked to transfer out one share and received the following:
–
Thank you for your email dated 12th November 2009.
Please be advised that your request has been sent to the relevant
department and will acted on in due course.
–
Whether I will receive the actual certificate and therefore voting forms in time remains to be seen.
November 24, 2009 - 3:27 pm
Nominee account:
Today received email from Barclays Stockbrokers online, regarding my request for info regarding DGO – I’m not panicing yet, but the reply wasn’t conclusive. If nothing arrives in the next few days, I will telephone them. I prefer to vote either electronically or by paper for recording puposes, but as a last resort will use a telephone vote as the deadline nears.
Here’s the contents of the email:
— Hi Mr Jones,
Thanks for your email,
With regards to any corporate action I can confirm that if Dragon Oil have a corporate action then we will contact you by letter with your options. If you have any more questions on any subject then please do not hesitate to contact me on the number below.
I hope this is helpful and if you require further information please send an email or contact me on 0845 601 7788*.
Kind regards
John —-
November 25, 2009 - 12:30 am
Telephoned Halifax today.
Holders registered for voting rights will get their voting papers within the next few days. Voting papers are now going into the post.
November 25, 2009 - 11:46 am
response from selftrade on my insistance they register my vote as “best endeavours was not good enough – I have asked a question “what is custodian and how does this work”
Dear Mr XXXXXXXX
Thank you for your message.
I have forwarded your election to our Operations team, who will pass this on to our Custodians to make at the meeting. In this instance, we will ensure that the vote is given to our Custodians.
I can confirm that your election will definitely be passed on to our Custodians.
If you require any further assistance, do not hesitate to contact us.
Kind regards,
Marc
Selftrade Customer Services
November 25, 2009 - 8:45 pm
See below for my response from Barclays. As yet no documents received. Not panicking yet but may well drop them another email to register my no vote with them.
Hi Matt Thanks for your email. Reference: xxxxxx. Our Corporate Actions Team are aware of the proposed offer from ENOC for Dragon Oil. At this time neither company has issued any information to give to shareholders, which means we don’t have any information to send at this time. Checking their website there was an announcement on 2 November 2009 which advised a document containing further details of the acquisition, including notice of an EGM, will be issued within 28 days. Once we receive this document we will write to all Dragon Oil shareholders with details. If you wish to vote at the EGM we’ll be able to arrange for you to vote by proxy, or we can arrange for you to attend the meeting, once the date of the meeting has been confirmed. Dragon Oil wont accept any vote until then. Once the date of the meeting is announced on the company website http://www.dragonoil.com/Investor_Centre/Home.aspx?id=3 simply contact us and we’ll make the necessary arrangments for you. I hope this is helpful. If you need more information please email or call me and I will be happy to help you. Kind regards Simon Simon CoyleClient Service Team Barclays StockbrokersTay House 300 Bath Street Glasgow G2 4LH Telephone: 0845 601 7788*EMAIL: stockbrokers@barclayswealth.com
November 26, 2009 - 8:35 am
IMPORTANT FOR BARCLAYS STOCKBROKERS NOMINEE ACCOUNTS:
As per my post of 20th November with respect to Barclays Stockbrokers nominee accounts:
“The cut off date by which our Corporate Actions team must receive clients’ instructions is usually 5 business days before the registrars deadline date for the offer.
THIS MEANS THAT THE CUTOFF DATE IS the1st or 2nd of DECEMBER 2009 i.e. NEXT MONDAY or TUESDAY.
(To Matt, can you state when you received this email from Barclays as it seems a bit out of date?)
November 26, 2009 - 9:39 am
Just found this on the “Corporate Actions” page on Barclays Stockbrokers online site.
You MUST TELEPHONE (0845 941 2222) them if you intend to attend or VOTE (I guess this means by proxy) by NO LATER THAN 4th DECEMBER 2009.
—
Corporate Actions
Dragon Oil ORD EUR0.10
The following information relates to the terms of the acquisition of Dragon Oil plc (Dragon Oil) by Emirates National Oil Company Limited LLC (ENOC) through a scheme of arrangement. You will find more information in the letter we will send to you on 25 November 2009.
Please note that the scheme of arrangement is subject to shareholder approval at the Court Meeting and at the Company’s Extraordinary General Meeting (EGM), both of which will be held on 11 December 2009. To attend or vote at the Court Meeting and/or the EGM please call our Corporate Actions Helpdesk on 0845 941 2222 by no later than 4 December 2009.
Basic Terms:
FOR EACH DRAGON OIL SHARE HELD AT CLOSE OF BUSINESS ON 15 JANUARY 2009, YOU WILL RECEIVE 455p IN CASH.
As an example if you hold 1000 Dragon Oil shares, you will receive £4,550.
We wish to remind you that in accordance with our terms & conditions, funds which are in the Cash Management Service facility within your account are held on the understanding that they are for the purposes of dealing.
Overseas Residents should consult their professional advisers as to whether they require any governmental or other consents or need to observe any other formalities to enable them to accept the Scheme of Arrangement.
The full document for this corporate action can be accessed via the following link into the Dragon Oil website:
http://www.dragonoil.com
The information in this document was provided by Dragon Oil not Barclays Stockbrokers. The information is believed to be correct but cannot be guaranteed.
—
November 27, 2009 - 3:21 pm
Posted 14 letters to my page of PI’s as all were ex-Directory, now trying the 2nd page.
As a nominee holder with Barclays SB, Hargreaves Lansdon, Charles Stanley and iii I have found a very mixed performance over this offer. Came to the conclusion that the only way to handle them was a phone call followed by an email. All have now responded but frankly have doubts that some of the instructions will be lodged- have requested Attendance from three of them and it will be interesting to see which deliver.
November 28, 2009 - 2:35 pm
I received my voting papers, – a few sheets of flimsy photocopies, on Thurs 26th and Fri 27th. I was surprised to see that it is an either/or situation regarding proxy voting/attending. I emailed Halifax and the guy replied very quickly saying that this was at the instructions of the Company (i.e Dragon). I asked what the timescale was for delivery of attendence cards and he said they would be issued 4 days before the meeting. I just don’t know what to make of all this, – so many obstacles being put in our way. It seems to me that Dragon is trying to stall the Nominees as much as possible, – probably because we are a large group of shareholders. But maybe I’m paranoid.
November 30, 2009 - 8:46 pm
I received my “Corporate Actions” letter from Barclays Stockbrokers today (Portugal) … no proxy voting forms included. So I rang them to lodge my “Against” vote and was told that I had already had an “Against” vote lodged on my account!
This puzzled me, I told them I had certificated shares but they said they had nothing to do with them (confirming my earlier posted comments regarding nominee accounts i.e. you must contact your nominee to get your nominee vote counted).
Then I realised that in the email I originally sent to them I had requested information on how to vote “Against” on a nominee account and hence they lodged it.
Why tell this story, well it gives me a little more confidence that at least the votes are being recorded on the Barclays Stockbrokers system, so full marks to them so far.
Remember the closing date for Barclays Stockbrokers Nominee Account holders to lodge their votes is FRIDAY 4th DECEMBER 2009.
Martyn
December 1, 2009 - 9:06 am
**IMPORTANT**
SORRY TO SHOUT!!
I received my letter from Barclays dated 25th November – there were no voting forms with it so I decided to try and register via their website. This worked fine until I was asked for a nine-digit corporate action reference. There was not one on my letter.
I have just called them on 0845 941 2222 and registered my NO vote, this was really easy. I informed them that I’d tried to vote online with no success. They admitted a mistake and the fact that on my letter there was no 9-digit corporate action reference.
I will not receive a voting confirmation but was told that the call was recorded.
I may try to vote again later to see if they prevent me from doing so in which case they will have obviously successfully registered my vote.
Matt
There was not one on my letter.
I have just called them on 0845 941 2222 and registered my NO vote, this was really easy. I informed them that I’d tried to vote online with no success. They admitted a mistake and the fact that on my letter there was no 9 digit corporate action reference.
I will not receive a voting confirmation but was told that the call was recorded.
I may try to vote again later to see if they prevent me from doing so in which case they will have obviously successfully registered my vote.
Matt
December 2, 2009 - 4:52 pm
Attached is my note on ADVFN suggest all iii shareholders take appropriate action
Just spoken to Ewan Macleod a iii supervisor. Despite being assured my vote would be counted over the phone on 3 occasions in previous weeks after my last chase up for written confirmation he has now advised me without return of the signed form my vote will not count. My form has not arrived despite apparantly having been sent on the 24th November. They will not accept an e-mail to confirm the no vote. I do not want to dwell on iii service/motives as the priority is getting all our votes to count. If you have a form they will accept faxes so suggest pass on quick. If you have been similarly given misinformation I suggest you contact iii to see if a pdf can be e-mailed to you and returned by e-mail before Friday, Ewan has agreed to suggest this to his senior management
Suggest all iii/halifax nominee holders double check their situation
December 2, 2009 - 6:54 pm
Just to confirm that i have just received voting forms from IWEB (see earlier posting) and have been told to return instructions by 7th December.
They have even enclosed post paid envelopes.
Well done and thank you IWEB.
That’s more ‘no’ votes then!
December 10, 2009 - 1:33 pm
I have finally received Voting papers and attendance card from Capita following a request to transfer out 1 share from HSBC Invest Direct.
(I cast the 1 vote online a few days ago)
Affter various letters I have also (today, 10th!) received a letter allowing me to act as a proxy for the amount of shares I hold with HSBC ID in my ISA and attend the Meeting / EGM
Not ideal in any way, but at least HSBC did honour the ISA right to vote and processed the transfer out of my 1 share free of charge.. Lucky for me I will be able to attend in person to cast my ISA votes against this Stitch up of a bid.
Good luck to all,
GTA