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Since the thread is now calm, unlike last week, I'll bring this up again: I think that for first transfer Havelock->lmb-holdings there should be no fee.
I bought Neo shares on Havelock the first day of the IPO, and I don't see why I should pay an additional fee to have them on the official platform, which was not avaible back then. If the shares I bought on Havelock are "real", then why do I have to pay a fee for having them validated by lmb-holdings?
It would seem reasonble to me that the lmb->Havelock has a fee, since exporting your shares on a non-official platform with more liquidity is indeed a service TAT is offering, but not the other way around. Instead it's exactly the opposite! I would like to hear your (TAT's and Danny's) reasoning on this
I bought Neo shares on Havelock the first day of the IPO, and I don't see why I should pay an additional fee to have them on the official platform, which was not avaible back then. If the shares I bought on Havelock are "real", then why do I have to pay a fee for having them validated by lmb-holdings?
It would seem reasonble to me that the lmb->Havelock has a fee, since exporting your shares on a non-official platform with more liquidity is indeed a service TAT is offering, but not the other way around. Instead it's exactly the opposite! I would like to hear your (TAT's and Danny's) reasoning on this
1. When you bought shares on Havelock, you bought passthrough shares. Every right that you assumed when you bought those shares remains. There was never an implication of converting, migrating, or managing your shares in any way unmentioned in the prospectus.
2. There is cost, time, and liability involved with facilitating the management of your shares. There are monthly fees to even exist on Havelock at all.
3. Havelock shareholder records are backed up to multiple parties twice daily. No shareholder "needs" to move to direct shares. It is an optional service, and therefore, one with a fee.
4. People who buy new shares directly from Neo at original price are able to move those new shares to Havelock with no fee required. The reasoning here, again, is that we don't want to force anyone to pay a fee. This service still has the same internal costs to manage, but since everyone needs to sell shares eventually, and being that Havelock is currently the only place to do so, we understand charging a fee in that case would be unfair.
5. The fees also serve as "friction" to prevent people from abusing the service and to curb overwhelming customer service needs. People should only really be moving shares when they want to sell them, or if they feel safer storing them with Neo.
6. With security being a priority, manual oversight is currently required for every single transfer. Over time, we may automate aspects and add features and conveniences for shareholders.
