littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,045
Likes: 1,862
|
Post by littleoldlady on Jul 1, 2018 15:54:23 GMT
The 'Amount Invested' is only the amount currently invested. The 'Portfolio Value' belongs on the 'Fiction' shelf. I cannot make any sense of the items in 'Account', and you can only download 3 months to analyse. In the Account, mine shows all the money I deposited and withdrawn since day 1, the 3 months restriction is for file export. In 'Account' bank deposits and withdrawals are not explicitly shown. They appear to be some, but not all, of the 'Credits' and 'Debits'. I have painstakingly downloaded several 3 month tranches and merged them together then stripped out debits and credits and tried to match them to my bank statements to no avail. I have funded my PM account from multiple bank accounts and sometimes by bank transfer and others by debit card, over several years. It would theoretically be possible to trawl through all my bank statements but frankly it is not worth the effort. If this was not an equity platform PM would legally have to report earnings each year for my tax return. It is a poor show that overall performance is not shown and cannot easily be calculated.
The total of debits exceeds the total credits, so if these really are withdrawals and deposits then I am already in front and whatever return I get from the rump of my portfolio will add to my profit from the platform. But somehow it does not feel like that.
|
|
jnm21
Posts: 441 
Likes: 167
|
Post by jnm21 on Jul 1, 2018 19:11:34 GMT
Less than 1 week to decide on a life changing vote - thanks propertymoose! Anyone else wondering if a 75% vote by each SPV should be needed - surely that is the rule? If anyone has a DeLorean, I'll give them £1000 to warn me off PM 15 months ago!!! |
|
jnm21
Posts: 441
Likes: 167
|
Post by jnm21 on Jul 1, 2018 19:17:06 GMT
Have they announced what the haircut will be to the pound? That will probably be confirmed as an average 3 weeks after the payouts. If they do confirm beforehand and/or by SPV, don't rely on it being correct.
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,315
Likes: 11,523
|
Post by ilmoro on Jul 1, 2018 22:51:12 GMT
Still no sign of any email for me
|
|
jnm21
Posts: 441
Likes: 167
|
Post by jnm21 on Jul 2, 2018 7:40:29 GMT
Still no sign of any email for me That could be good or bad - either you are in a later group and have more time or you clicked the "don't send me important updates" link & won't be able to vote. 
|
|
crapo
Posts: 40
Likes: 26
|
Post by crapo on Jul 2, 2018 10:12:08 GMT
Still no sign of any email for me Nor me, and less than a week to go you (jnm21) say?  
|
|
m203
Member of DD Central
Posts: 54
Likes: 6
|
Post by m203 on Jul 2, 2018 16:45:56 GMT
Recieved email today.
What is a reasonable haircut? Hard to decide for option 2 when not knowing.
|
|
kaya
Member of DD Central
Posts: 1,150
Likes: 718
|
Post by kaya on Jul 2, 2018 16:58:06 GMT
Apparently the voting is 'staggered' so is done in batches. They say about 76% have voted for option 1.
It is unclear to me whether a vote for option 2 is an irrevocable decision to sell, but I voted for that anyway.
What a joke of an 'investment' propertymoose turned out to be. Bunch of jokers as dodgy as the directors of Collateral, taking our money, then changing all the rules & complete set-up.
The only honourable thing they could do is offer a 100% exit and take the hit on any loss themselves. Absolutely awful company, which goes to show that this world of p2p investing is a very dangerous world indeed, and effectively completely unregulated.
|
|
|
|
Post by sayyestocress on Jul 2, 2018 17:00:31 GMT
Me too. They explain the e-mails are in batches to manage the number of calls / inquiries they're expecting to have for investors. Most people (76%) have voted for option 1 thus far.
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,315
Likes: 11,523
|
Post by ilmoro on Jul 2, 2018 17:14:51 GMT
Received mine after a nudge. Why they couldn't tell people it was staggered voting I don't know. Seems odd to tell people current voting as may sway vote.
|
|
m203
Member of DD Central
Posts: 54
Likes: 6
|
Post by m203 on Jul 2, 2018 17:50:33 GMT
It is unclear to me whether a vote for option 2 is an irrevocable decision to sell, but I voted for that anyway.
This, does anyone know?
|
|
markm
Posts: 45
Likes: 33
|
Post by markm on Jul 2, 2018 19:41:32 GMT
It is unclear to me whether a vote for option 2 is an irrevocable decision to sell, but I voted for that anyway.
This, does anyone know? Yes you do - it's in the separate FAQ -as follows... What happens after the vote and what are the time scales?
After the vote, and assuming that the portfolio option is voted for, a number of actions need to happen including the valuations, the setting up of the PLC and the registration of the PLC with the FCA.
We anticipate that the portfolio could be created within around 1 month of closing the vote although, as mentioned, the registration with the FCA does place the timing in their hands.
Once the valuations have been received, the relevant share values will be calculated and an email sent to all investors notifying them of the final details of the transfer. We will give some warning of when this email is coming as all investors will have 3 days to then swap between Option 1 and 2.Although it is not possible to give an indication of how long it will take to redeem exiting shareholders investments, the team will strive to repay those exiting shareholders as soon as possible. There may be an opportunity for existing shareholders to invest additional capital to be used to redeem exiting shareholders. We’ll be in touch about that should it be relevant.
|
|
kaya
Member of DD Central
Posts: 1,150
Likes: 718
|
Post by kaya on Jul 3, 2018 15:45:21 GMT
Received mine after a nudge. Why they couldn't tell people it was staggered voting I don't know. Seems odd to tell people current voting as may sway vote. Odd? Hah! yet another deliberate 'spin' to make sure the vote goes the way intended.
First they skew the voting to make sure properties are retained. Then they skew the voting to get a 'sell' result.
Then they seem unable to sell anything (did they even get a 'for sale' sign up for SPV's ended months ago, with a voted to sell, I wonder)
Now they spin the vote again (as if many would vote for becoming liable for ongoing expenses, hah!).
So they make sure that the 'vote' goes for the new - already decided - structure.
Just my opinion of course!
|
|
jnm21
Posts: 441
Likes: 167
|
Post by jnm21 on Jul 3, 2018 20:06:33 GMT
Is it spin or bully the vote? I would say that the precedent of interest free loans from PM was strong, so the strong arm of threatening bridging loan interest was quite shocking. That said since the new boss went in, things changed in that direction!
|
|
|
|
Post by ragtagarmy on Jul 4, 2018 22:10:46 GMT
Erm, ? No email, no notice on site... |
|
