Bought BOI shares a while back through SHAREWATCH (over the phone).Decided to sell them last week,through SHAREWATCH (agreed shareprice @ 2.15 over the phone).Shares now much higher (2.55 each).Can I change my mind and hold onto my shares or do I have to sell them at the agreed price?.I still have share certificates and haven't signed any consent forms etc.
Can I change my mind about selling shares?
- Thread starter OLD MONEY
- Start date
P
pjmn
Guest
If the shareprice had fallen to E1.55 -would you be happy if SHAREWATCH decided to rescind the deal?
pjmn,
Very GOOD point.I would not be happy.Just to explain - this is my first time to buy/sell shares, and was wondering where I stood with regards to the deal.But you're right -the buying/selling of shares must rely on TRUST between the parties involved,otherwise the system would not work.I will make a profit selling at 2.15,not as much if I could sell at 2.55-but could be worse, I could be selling at a loss.
Thanks for your comment.
OLD MONEY
Very GOOD point.I would not be happy.Just to explain - this is my first time to buy/sell shares, and was wondering where I stood with regards to the deal.But you're right -the buying/selling of shares must rely on TRUST between the parties involved,otherwise the system would not work.I will make a profit selling at 2.15,not as much if I could sell at 2.55-but could be worse, I could be selling at a loss.
Thanks for your comment.
OLD MONEY
I've never dealt with sharewatch (any shares I've bought/sold been done online so happens immediately if the markets are open).
So if they are paper based & need forms signed etc, you should call them & ask them - if the deal is done, it's done. If it not, they may be able to stop the transaction. I'm not really involved with shares anymore (but do plan on re-investigating : I reckon you need time to do loads of research & planning)
So if they are paper based & need forms signed etc, you should call them & ask them - if the deal is done, it's done. If it not, they may be able to stop the transaction. I'm not really involved with shares anymore (but do plan on re-investigating : I reckon you need time to do loads of research & planning)
Just to clarify one small point - it is not just a matter of trust. Telephone instructions to your broker form the basis of a legally binding contract. As far as I am aware, all such telephone instructions are recorded - for your protection and theirs.
M
mercman
Guest
And if you do not send in the certificate fairly quickly, you will be hit with all types of penalties. If you didn't want to sell them then you should not have sold them. It is not a lucky dip scenario you're playing with
Complainer
Registered User
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What a coincidence. They were my shares that you bought a while back. You bought them from me at 1.75, but I've now changed my mind. I didn't want to sell them to you until they got to 2.15. Please send the difference to me soon.
