Section 12J lies / misinformation / whatever you want to call it...

I should have checked HelloPeter before opening an EasyEquities (EE) account it seems, 1-star ratings all over the place, no wonder I’m battling getting my money out of them...

Any case, I bought a Section12J investment through EE just over 5 years ago, planning to sell it in 5 years’ time, as was communicated from EE via email, very clearly stating the following, specifically relating to this S12J investment: "As a Section 12J investment, shareholders are expected to hold the shares for a minimum of 5-years from issue ... etc etc … investors are expected to hold the shares for a period of 5 to 10 years."

You don't need to be a rocket scientist to gather from the above that 5 years is the minimum, right? But not according to EE, somewhere they decided it's 7 years, with no communication or evidence of this. Lots of back & forth emails, with follow up emails due to no responses in between. They are sticking to the 7 years, and in my last email I said I will publicly voice my concerns.

I will be closing my EE account after I get this S12J money out, please don't waste your time with EE.

BTW, I got this ****py news only after 4 follow up emails over the course of 2 weeks, not good support either