Aim share in ISA - being delisted from foreign exchange

EdGasket

It is permissable to hold an Aim share in an ISA so long as it is listed on another approved market. I have an AIM share in my ISA which is being delisted from the other market meaning it's only listing will now be on AIM and hence it will no longer qualify for a S&S ISA. While I understand that I cannot then buy this share within an ISA, what will happen to my existing holding once the share becomes listed on AIM only? Will I have to sell it or can I keep it now that it's already in there?

Ark_Welder

Unfortunately, your holding must be sold because it no longer qualifies as ISA-eligible. It is the same when a company moves from the main market to AIM.

You could try to drum up some support for the following:

http://epetitions.direct.gov.uk/petitions/16111

EdGasket

Not what I wanted to hear but thanks anyway. If I don't actively sell them do you think the ISA provider will automatically sell them or will they just not notice?

Ark_Welder

I would expect the ISA provider to automatically sell them - but that is just a guess. If they didn't then they might be held liable for allowing non-eligible investments to be held. They should know about the change because they (or at least, the nominee company) will have received notification about the move.