MJ
Mayur J

1 reviews | Active since Aug 2012

12 Nov 2015, 14:35

Absa Stockbrokers contract breach

On the 5th November 2015, I purchased MTN Zakhele share's using my ABSA Stockbroker account. I bought 500 shares at R55 each. I have a contract note proving that I own the shares.<br> <br> During the course of the day on the 5th I was called by ABSA stockbrokers and informed that my MTN Zakhele shares would be sold as there was a system glitch on ABSA's side. I indicated that I do not want to sell my shares. On the 6th November they informed me that they had sold my shares at R62 - without my consent. They said the JSE had instructed them to sell the shares. Today the share price is R77. <br> <br> I would never have sold my shares as I am a long term holder of MTN Zakhele shares and ABSA Stockbrokers *******ly sold my shares. I demand that all 500 shares be returned to me!<br>

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Replies (1)
Absa
Absa's reply13 Nov 2015, 08:21
Official
Hello mviper,

Thank you for bringing this matter to our attention. We will investigate the matter and furnish feedback shortly.

Kind regards
Claudette Lewis
Group Customer Care
Absa Bank Ltd