Restricted Shares

This is a discussion on Restricted Shares within the First Steps forums, part of the Reception category; Hello All. Sorry if this has been dealt with before, it's my first post. I too am a novice trader, ...

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Old Sep 24, 2008, 5:35pm   #1
 
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Joined Sep 2008
Restricted Shares

Hello All.

Sorry if this has been dealt with before, it's my first post.


I too am a novice trader, well I used to be (can't afford it any more!). I bought about £65k of shares, mostly on advice from "advisors" and all shares were in IPO's. none has done well as far as I can see and some have been lost for ever, World wide bio refinaries (UK)to name but one. I have some shares in an Americam company called Prime time (PRTH) though now Hunt gold. The shares are restricted. Does anyone know how I might get them derestricted, (they are well out of the time restriction).

Thanks

Hugh Fixsen.
Hugh Fixsen is offline   Reply With Quote
Old Sep 25, 2008, 8:22am   #2
Joined Feb 2004
Hi - Which broker did you buy them through? Reg S shares are often sold by scam artists, so it's worth checking this out. Have you read the 'Boiler Rooms' thread here? Is your broker based in the UK and FSA registered? If so, they should be able to help you. Whatever you do, don't pay any money to any agents who cold call you offering to have the restriction lifted.
ns1000 is offline   Reply With Quote
Old Sep 25, 2008, 8:41am   #3
Joined Dec 2003
Hugh, sorry but the money you've invested will have been lost and stolen from you by the scammers. There is very little if anything you can do about it and the shares are probably worthless.

Just remember in future not to believe anyone that cold calls you plus that you do not fully check out and research. The scammers will remember you and try and offer to buy the shares back at a great profit. But first you'll be asked to pay some sort of a bond or fee, pay that money and it will again be stolen from you......
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