Markus (@_xempex_) on getquin

7Mon·

Since I have both $GLAD Gladstone Capital and $SOLV WI (+0.75%) Solventum as a 3M spin off in my Scalable portfolio, I asked Gettex today when to expect the new shares to trade. Here is the answer:

"there is no settlement confirmation from the German central securities depository Clearstream for either share.

No orderly stock exchange trading is possible without a valid settlement confirmation.

The resumption of trading in Gladstone Capital or the inclusion of Solventum in trading is not possible under these circumstances."

If SC can't manage it with Solventum, there is always the detour via a securities account transfer. I'm not so sure about Gladstone because I still have the old ISIN in my securities account before the reverse split and not the new one. I don't even know whether the old share can still be transferred. I've already had a "normal" share split at ING, but that went without any problems. A reverse split shouldn't be rocket science either.

I'll just have to be patient now. At the moment, I can't imagine that the money will simply disappear at some point.

13 Comments

Ella Marie Waschbär@DividendenWaschbaer

7Mon

The problem with Gladstone is actually the new ISIN. A transfer of the old one is probably not possible and if it is, you still can't sell it.
The new ISIN is also up to clearstream. As soon as the new ISIN is entered, you could transfer it and then sell it.

At TR, for example, Solventum is registered, but it is not tradable and there is no price information. Nevertheless, I could transfer the share to another broker, where I could then sell it in New York, for example.

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Divids@Divids

7Mon

Gladstone Capital has been correctly booked at ING for a few minutes and is also tradable again via Munich. At 3M I am waiting for the new Solventum shares

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Markus@_xempex_

7Mon

A brief update: the new GLAD shares have already been deposited when logging in via Baader Bank. The number of shares has been halved and the price doubled. It is not yet visible in the login via SC. But I have already read a few times that this can take longer.

And there are already prices for Solventum. So things are progressing slowly. ^^

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Smudo@Smudeo

7Mon

Hello Markus, when was the spinoff of Gladstone Capital, or when did you have to hold 3 M for them to be booked? I don't have them in my portfolio. @_xempex_ @DividendenWaschbaer or am I getting it wrong and you bought Gladstone that way?

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Daniel O.@Blueyy

7Mon

It can become difficult if clearstream locks up. This is the case with Russian ADRs. If clearstream as custodian does not allow a transfer here either, you cannot get away from SC

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Daniel@DB2310

7Mon

Same with TR

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