Sold debenham shares, not received money

ThomasUK

Good afternoon.

Bit of a newbie to share dealing. I purchased a number of shares using AJ Bell a few weeks ago.
I sold them the day before they were delisted (at around 13:00) again using AJ Bell, I've been told I won't get the money for a few weeks because the stock was delisted.

They confirmed that it was done before they become delisted and I will get paid. Do you know on average how long this takes.

Thank you,
Tom

System

Dear Mike, nobody is likely to be able to give an accurate timeframe as it is not a common event (and one that most of us would want to avoid).
PS: a good idea not to use your real name!

Chino

ThomasUK wrote: »

I sold them the day before they were delisted (at around 13:00) again using AJ Bell, I've been told I won't get the money for a few weeks because the stock was delisted.

(yes, I can see someone sold 278 Debenhams shares at 13:01 on 8 April)

You should to contact AJ Bell and ask for a specific reason why they are withholding your money. Whilst the fact that subsequent to your selling the shares Debenhams was delisted may cause AJ Bell problems, that's no excuse for them not to pay you.

System

Selling 278 shares would probably not cover the dealing charges!

Alexland

Well if you are new to this then it might be a valuable experience in the advantages of investing in diversified funds and avoiding individual company shares.

System

I learned that lesson with Marconi, not believing such a long standing stalwart of the tech industry could fail. Fortunately I liquidated half my shares whilst it was still bobbing up and down in the low tens of pence so overall I didn't lose.

Reed_Richards

Tarambor wrote: »

I learned that lesson with Marconi, not believing such a long standing stalwart of the tech industry could fail.

The problem with tech is that it can be very rapidly overtaken by other tech.

However share deals have a settlement period which I believe is 2 days. If you buy shares you have two days to deliver the money and if you sell shares you have two days to deliver the shares.