SIPP issue

Benny2020

One of the shares in my SIPP is about to be bought by a russian listed company whos shares cannot be held in my SIPP.
If the deal is in shares what will happen as i cant hold the shares in a SIPP and the shares surely cannot be transferred out of the SIPP?

garmeg

Benny2020 said:

One of the shares in my SIPP is about to be bought by a russian listed company whos shares cannot be held in my SIPP.
If the deal is in shares what will happen as i cant hold the shares in a SIPP and the shares surely cannot be transferred out of the SIPP?

Sell the shares before the takeover?

Benny2020

Have to wait for the takeover as it will be at multiples of todays share price.

Alexland

Have you asked the SIPP provider?

tacpot12

The T&Cs for the SIPP probably cover this situation. It might include the right for the platform provider to sell the shares at best. 

Thrugelmir

Benny2020 said:

Have to wait for the takeover as it will be at multiples of todays share price.

Market price will adjust to reflect the takeover terms well before the actual legal formalities are completed. 

Dox

Benny2020 said:

One of the shares in my SIPP is about to be bought by a russian listed company whos shares cannot be held in my SIPP.
If the deal is in shares what will happen as i cant hold the shares in a SIPP and the shares surely cannot be transferred out of the SIPP?

The SIPP provider will sell them and the cash will be re-invested in your SIPP in line with whatever instructions you've given/terms of your SIPP specify.