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Investment Q&A

Not investment advice or solicitation to buy/sell securities. Do your own due diligence and/or consult an advisor.

Q: The TSGI/Flutter conversion closed May 5, but the proceeds of the conversion have still not shown up in my account. Below is the response from my investment firm received on July 5.

"Thank you for your message.
In regards to TSGI/Flutter transaction, the reason for the long delay is because Flutters shares trade on the London Exchange and we are still waiting for the shares to be received. I believe I may have spoken to you originally regarding this and such transactions typically do take up to 10 business days to be completed.
I have now heard that when dealing with foreign stock takeovers the delay can be much longer than that and we have submitted everything required for our clients to have the shares received. Unfortunately, we are still waiting for them so it's hard to say how much longer exactly it will take to receive the shares.
Regards,
Steve
Investment Representative"

Could you please comment if in your experience their explanation is reasonable or any recommended action I could take to expedite the process? Have you had other clients identify this issue?
Thank you.

Read Answer Asked by Nick on July 09, 2020

Q: I am heartened to see that 5i members have jumped into Flutter London. I wonder what your prospect are. I am guessing for a long term hold and do you see as a target.
Also I wonder if Robert could mention who his broker is and when it happened because TD had not switch over to show the london listed shares in my account still? Thank you for your great service.

Read Answer Asked by mike on June 17, 2020

Q: Hi,

In all of the recent turmoil, I missed that The Stars Group was bought out. As such, I obviously didn't do anything and noticed today that I have the Flutter shares in my account - which are actually up quite nicely from the bought price. I'm content to continue to do nothing and let these Flutter shares hopefully continue to appreciate.

Any red or yellow flags from your perspective on Flutter, realizing that you don't follow it.

Thanks,
Robert

Read Answer Asked by Robert on June 16, 2020

Q: I sold shares from the stars group in my tfsa but kept my rrsp shares because I real like their longer term prospects. Now I am unable to see the share trading and this is the unreasonable answer that I got from Tdís back office.
ďThank you for your inquiry, based off the information we have with our depository CDS, the combination of the entities will result in a foreign incorporation in Dublin, Ireland. We will most likely have to hold the position through BONY/CREST (foreign Depository)

As per our processing team, the timelines to have the shares settled will be longer than normal due to the pandemic impacting the normal operations of delivery of physical certs. The settlement is expected to be within a few months due to the process involved to settle the physical certs and the transit time for the certs coming from overseas.ď
Does this make sense? Do you know how I can now follow the flutter shares on a timely basis. The thank you for your valuable service.

Read Answer Asked by mike on May 13, 2020

Q: In your April 20th response to Mike regarding FLTR, you said "We are not sure the company will list an ADR yet". I came across PDYPY which appears to be a FLTR ADR trading on the OTC market. It appears as if the ADR is .5 of a FLTR share.
- Is this correct?
- Is it possible to elect to receive the PDYPY ADR shares instead of the FLTR shares to avoid the excessive trading fees of buying and selling on the LSE?
- If so, are there downsides to owning the ADR other than making sure you put a limit price on any trade?
- I also noticed a PDYPF that appears to be FLTR shares trading on the OTC market but does not appear to have any trading volume. What is this and how does it compare to the ADR?
- if we can not elect to receive either of these in place of the FLTR shares and still want to be exposed to FLTR but not own LSE listed shares, I assume we would need to sell the TSGI shares in advance of the deal closing in May and buy one of these?
- which one would you recommend?
- will TSGI announce the closing date well in advance so those that want to sell have plenty of time?
Sorry for all the questions but I am confused and am hoping you can explain.

Many thanks
Scott

Read Answer Asked by Scott on April 29, 2020

Q: I just received a notification of a class action suit and it advises that you must opt out by March 25, 2020 which date has come and gone.
I guess I have no choice now .. I am part of the class action. Will this create a problem for me .. what should I do? I have been involved in stocks as part of a class action. The forms and info requiredwere very time-consuming and received pennies on the dollar for it.
AYX, AMD, NVDA, TTD, FIVN, and CRM. What type of ETFs would have these type of stocks in them? I was with Dundee Private Vestors for a very long time one of their very top picks was the Sprott Growth Fund which I did well by .. manager Peter Hodson. Thanks Dennis

Read Answer Asked by Dennis on April 20, 2020

Q: I'm trying to decide what to do with TSGI in one account. I'm holding 1000 shares (-12% @$35.43) which comprises 4.4% of my main account. Given the large amount I hold, the commission to sell on the London Exchange is immaterial so I thought I'd probably hold for the Flutter shares. However, with the move up today I'm wondering if I should sell and move on. If there is reasonable/substantial future upside I'd hold. My time horizon is likely 2-3 years, maybe longer. Sell or Hold?

Read Answer Asked by Earl on April 20, 2020

Q: Hi 5iTeam - I am interested in buying shares in an online gaming company. My first choice would probably be TSGI but since it is amalgamating with Flutter I would need to go through a broker to either buy or sell in the future. Since it very difficult to connect with a customer service representative over the phone these days (understandably) do you have any other suggestions for three or four companies in this field that trade on any of the markets in Canada or the U.S. They don't have to be companies with pristine balance sheets but at least ones that have decent fundamentals and management along with a good chance of coming out on the plus side in the next few years. Thanks.

Read Answer Asked by Rob on April 17, 2020