Forum Archive Index - November 2003

["Malcolm Cameron" <malharcameron@hotmail.com>]

>From: "tennyson@caverock.net.nz" <tennyson@caverock.net.nz>
>Reply-To: sharechat@sharechat.co.nz
>To: sharechat@sharechat.co.nz
>Subject: Re: [sharechat] Disgraceful Service, BK Registries and TLS
>Date: Fri, 28 Nov 2003 12:31:18 +1300
>
>Hi Malcolm,
>
> >
> > Snoopy they are only doing what Telstra instucts them to do and
> > Telstra seems to have screwed down the price it pays for the service
> > as well. Had similar problems with both B K and computershare with
> > other companies over dividend payments Both Carter Holt will only pay
> > dividends in NZ dollars to those on NZ register and Australian dollars
> > to those on Australian register.
> >
>
>I think that is understandable as I believe most shareholders on the NZ
>registry would be New Zealanders and most shareholders on the Oz
>registry will be Australian.   If you don't like that and you are a New
>Zealander who wants Australian currency, there is nothing to stop you
>going onto the Australian registry.    In the days of internet it really 
>isn't
>a problem, as we can all readily buy and sell shares in Australia.
>
HI Snoopy since when has a share registry been an expert on taxation or is 
expected to be. They only put stuff in envelopes the companies provide. 
Surely the companies that operate here such as Telstra use tax accountants 
for their own company tax matters so Telstra should know more about NZ tax 
obligations of shareholders than a simple clerk in a registry.

>What I am objecting to with BK, is that information was knowingly sent
>to New Zealand shareholders that was IMO badly misleading.  There is
>no excuse for that.    An Australian company might not be expected to
>know the intricacies of every other country's tax laws.   But surely BK
>registries should be familiar with their own home country tax laws.
>IMO it was negligent of BK not to point out to Telstra that the Telstra
>documentation was badly misleading.
>
> >
> >Where choice of currency etc would be
> > very beneficial to shareholders of dual listed shares.
> >
>
>You have that already.   Just write to the existing registry and ask them
>to transfer your shares to the other.  It will only cost you a 40c stamp.
>
> >
> >Tower had a bad
> > problem with the Australian equivalent of B K registries somebody put
> > the wrong letters in the envelopes to shareholders there was supposed
> > to be different letters depending on size of share holding. They were
> > supplied by Tower but postage, sorting & addressing were part of the
> > registry service.
> >
>Yes snoopy a registry is responsable for a mistake when they put the wrong 
>documentation in envelopes. But not for company errors in printing of  the 
>documentation Especially if it arrives with just a few hours to get it into 
>envelopes address them and post them.

Also snoopy I thought you were moaning about currency when Telstra asked you 
for a NZ bank account  number to credit your dividends into. I take it now 
you just wanted a cheque. I thought from your original email you wanted a 
cheque in Australian dollars.


>So now you are blaming the registry, in this other case?    You admit
>that the registry can be responsible for mistakes?  I agree with you, if
>that is what you are saying.
>
regards Malcolm

>SNOOPY
>
>
>--
>Message sent by Snoopy
>on Pegasus Mail version 4.02
>----------------------------------
>"Dogs have big tongues, so you can bet they don't
>bite them by accident"
>
>
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