Peter Jones Tycoon ITV Show Bladez Toyz Shares

topaz13

I sent the share centre an e-mail saying how unhappy I was with the charge and that I wanted to close the account. This was the reply:

[FONT=&quot]I regret I cannot close your Share Account as you currently hold Bladez Toyz. Please note as these shares have yet to come onto the Asset Match trading platform, we will not levy a monthly fee to your Share Account. In the event that this investment starts trading, or you place cash or other investments into your Share Account the monthly charge of £1.50 plus VAT will become due. I have amended our records so all future Valuations are sent by email too. This will ensure you do not attract the monthly postal documentation fee.[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]An alternative would be to gift these shares to Giftshare – the share donation charity. We can do this free of charge and then arrange to close your Share Account.[/FONT]

And a few minutes later, a reply from a different person:

You hold Bladez Toyz which are not trading on any market, if you want to close the a/c these will need to be removed. You can either have the shares re-registered into your own name which will cost you £25 or you can gift to the Orr Mackintosh Foundation. Please let us know how you wish to proceed. Many thanks

I've asked them to gift the shares and close the account - I just want rid of them now

custardy

topaz13 wrote: »

I sent the share centre an e-mail saying how unhappy I was with the charge and that I wanted to close the account. This was the reply:

[FONT=&quot]I regret I cannot close your Share Account as you currently hold Bladez Toyz. Please note as these shares have yet to come onto the Asset Match trading platform, we will not levy a monthly fee to your Share Account. In the event that this investment starts trading, or you place cash or other investments into your Share Account the monthly charge of £1.50 plus VAT will become due. I have amended our records so all future Valuations are sent by email too. This will ensure you do not attract the monthly postal documentation fee.[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]An alternative would be to gift these shares to Giftshare – the share donation charity. We can do this free of charge and then arrange to close your Share Account.[/FONT]

And a few minutes later, a reply from a different person:

You hold Bladez Toyz which are not trading on any market, if you want to close the a/c these will need to be removed. You can either have the shares re-registered into your own name which will cost you £25 or you can gift to the Orr Mackintosh Foundation. Please let us know how you wish to proceed. Many thanks

I've asked them to gift the shares and close the account - I just want rid of them now

I read this as you wont be charged until the shares have a value.
so nothing has changed?

topaz13

I would assume that a charge would be made unless you contact them. The wording in the e-mail is ambiguous. Is it the account itself that generates the charge, or the monthly paper valuations?

I e-mailed requesting them to gift the shares and close the account last Monday, but have had no reply, so I still don't know where I stand.

mjm3346

Alidolly wrote: »

Would going to the media about it help given the numbers involved? Shame them into sending out an alternative prize (and cancelling the shares).

It was clear at the time the prize was shares which might never be worth anything so there is nothing to "shame" them about.
The company could still go either way but they have launched a range of licensed star wars stuff this year and the accounts appear to be improving.

http://companycheck.co.uk/company/06203046/BLADEZ-TOYZ-PLC/financial-accounts

rwgray

They handed out 20 shares each to 2,000 people, yes? Even if the shares were worth a quid each that's a £40k prize distribution plus the costs of distributing prizes to so many people. Quite a big giveaway - and with an obvious risk attached. I wouldn't complain. If the shares get listed and aren't worth your costs, then it's time for everyone to go the charity route!

Rich.x

jimp74

my account now shows the value of my shares as -£1.20 so I guess Thats how they plan to charge. does this mean if I close my account in a years time I will owe them £15.

apparently they sent out a share holders update via share centre last week but I didn't get it could someone fill me in?

micb1

I received the letter from the Share Centre with details about the proposed buyback of the shares.
£1 for each share, so a total of £20 plus a RC Heli worth £40.
Well, it is better than nothing but...
I have read they gave away 25% of the company to 2,000 viewers, so it means we each own 0.0125% of the company. If this is worth £20, then the whole company is worth £160,000.
Really !!
It must be way more than that ! Especially if they have done some Star Wars licensing recently...
Anybody knows any better what the alternatives are ?

diamondsp

I've read these forums for years but this is the first thing that's got my goat up enough to make me get my finger out and register.

Absolutely disgraceful offer - values the company below net assets so includes zero -in fact, less than zero - for any profits. And they seem to have spent the last 6 years turning things around and now, when growth ad profits finally seem like they could be just around the corner, they want to fob shareholders off with TWENTY QUID!!! And as for the helicopter, I ascribe negative value to that due to a) the effort it takes to answer the door to collect the package and b) the time it takes to throw it in the bin and c) the waste of resources sending radio controlled helicopters to disinterested and disenfranchised shareholders.


First step has to be to vote no to all propositions - but how do you get more shareholders on board? I can't find this issue being discussed anywhere other than here at the minute

Mark_Cooke

From a quick glance at the accounts it looks as though Peter Jones has had to finance the company over the last few years and the business has never made any significant profit. You are being offered £20 plus a toy helicopter for something that cost the price of a phone call. What were you expecting a real helicopter? If you don't like the offer don't accept it remain as a shareholder and take your chances as the business progresses.

euronorris

Whether you want to keep the shares or not, is up to you. They may one day become valuable, they may not. There's never any guarantees with shares.

If you want to gift them to charity, and they haven't processed it yet, then chase them up about it and stay on their case until they process your request.

If you want to hold onto them, and keep them where they are, then chase up the 'platform' (The Share Centre) about removing those charges as per their previous email.

If you would prefer to remove them from The Share Centre, then you may want to consider re-registering the shares into your own name. Though it will cost you £25 by the look of it. Whether you deem it worth the cost or not, is up to you.

They seem to be your only options at the moment.

But.....given that it is possible for you to re-register the shares into your name, I am unsure as to why you were requested to setup an account with an investment platform at all. One could even argue that, by them insisting on this, they have now left you in a position where the prize could cost you money through no fault of your own. So, if you are going to take it up at all, I would ask the prize provider why you were only given the option of holding the shares through The Share Centre and not in your own name originally.