JS
Johan S

1 reviews | Active since Mar 2012

16 Jul 2018, 10:11

VERY BAD SERVICE

The following was sent to Link Market Services (LMS)on 5 July 2018. "J P Smit share account number ********** 214 On receipt of the Old Mutual Managed Separation (OMMS) documents by ordinary post I opted to use the free fee service to sell my shares. The applicable document was completed and returned in the reply paid envelope provided for this purpose. With no response to the proceeds of the sold shares I called LMS on 3 July. I had to leave a message. I again called on 4 July and again had to leave a message. Mtanga responded on 4 July (call id 198) and confirmed that my documents have not been received. He was adamant that it was my fault that the documents are missing, notwithstanding the fact that I followed the prescribed return instructions. I told Mtanga that I want to sell my Old Mutual shares and was then informed that I will now be responsible for any applicable fees....I strongly expressed my dissatisfaction that the missing instruction is not because of my wrong doing....he was not aqt all interested in my explanation. A C Smit share account ********** 960 (MY WIFE) Because of outstanding FICA compliance documents, her documents were send at a later stage, also using the reply paid envelope provided. She also wanted her shares to be sold using the free fee service. Guess what...her documents are also missing because her shares have not been sold as per her share account.

PLEASE EXPLAIN HOW CAN DOCUMENTS, POSTED TO THE SAME COMPANY, USING THEIR PRESCRIBED METHOD OF SUBMISSION( PREPAID BUSINESS REPLY SERVICE) , ON DIFFERENT DATES, DISAPPEAR IN THIN AIR.

Please don't pass the blame to the Post Office.....that will be a lame excuse to pass responsibilty. " (LMS used the same Post Office service to send the bunch of documents to the shareholders!!!!)

LMS has not yet responded to my complaint.

For my shares sold I have not received a share dealing statement. I am sure that I lost on the market value of my shares sold.

OLD Mutaul will not be satisfied with the way LMS conducted the handling of the OMMS action.

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Replies (1)
JSE Investor Services (PTY) Ltd
JSE Investor Services (PTY) Ltd's reply20 Jul 2018, 08:54
Official

Good day

A senior member of the Old Mutual administration team has been in contact with you. We apologise for the inconvenience and hope to resolve all your complaints timeously.

You have the details of the person handling your complaint and should you have any further queries, please do not hesitate to contact Link Market Services directly.

Kind regards

Link Market Services