Easy Equities good or bad?

Toothless said:
I highly doubt it is true, but as always, I stand to be corrected.

Fact is, when GT247.com purchase the batch shares in Naspers as instructed by us, they will buy the shares in their own name. The JSE will report this acquisition to Naspers and indicate the buyer as GT247.com.

GT247.com have their own register in which they will note us as the beneficial owner. This is already noted on their website.

So, for all legal purposes, Naspers will have GT247.com recorded as the legal owner of those shares. GT247.com will have us noted as the beneficial owner.

When voting is required or dividends paid, Naspers will inform GT247.com to vote and also pay all dividends to GT247.com. In turn GT247.com will notify us that a vote is required and will then inform Naspers that we will represent GT247.com in the vote as beneficial owners of the shares. GT247.com will then also distribute the dividends between us in terms of the value we invested and full-shares owned.

Nowhere will Naspers have us, as beneficial owners noted in their share registers.
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What if there was an "opt in" from any given company EE deals with to also add the names of the beneficial owners to the company registers?

Might not be forced, but it's no more than a quick database sync every so often, say based on a certain volume traded.

It would cost them nothing.
 
Here is an extract of the standard bank OST mandate terms and conditions version 6.0

ImageUploadedByMyBroadband1451684602.659099.jpg

On first read, it appears to work in the same way as EE for whole shares.
EE has FWT nominees pty ltd
OST has SE nominees pty Ltd

I need to study this carefully and ask a few questions
 
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@midnightcaller

Can you ask SB if the share certificates are in your name? Is there any way for you to verify this?
 
SauRoNZA said:
I thought we've concluded already that its pretty common practise across the board?

Are people STILL paranoid about this now?
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No no, I thought we concluded this is done for "budget" providers.

I would compare SB to PSG, FNB, etc. They are "proper" brokers, certainly not budget.

My understanding from point 6.3 is that the share certificate is not in your name, but rather in the Nominee company.

We really need an official rep from one of these places to clarify this.
 
Shalin_ZN said:
No no, I thought we concluded this is done for "budget" providers.

I would compare SB to PSG, FNB, etc. They are "proper" brokers, certainly not budget.

My understanding from point 6.3 is that the share certificate is not in your name, but rather in the Nominee company.

We really need an official rep from one of these places to clarify this.
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Purple Group has a market cap of R600+ million. Hardly budget.

EE is fine for investment, not trading...
 
Mike Hoxbig said:
Purple Group has a market cap of R600+ million. Hardly budget.

EE is fine for investment, not trading...
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Firstrand has a market cap of R247.66 billion.

Not sure how the holding company value is relevant, but okay.
 
Shalin_ZN said:
Firstrand has a market cap of R247.66 billion.

Not sure how the holding company value is relevant, but okay.
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Firstrand is a banking group. Brokering is only one of the sectors they operate in.

If you want to draw comparisons, find a dedicated broker...
 
Mike Hoxbig said:
Firstrand is a banking group. Brokering is only one of the sectors they operate in.

If you want to draw comparisons, find a dedicated broker...
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PSG Group Limited: R51.74 billion

Coronation Fund Managers Ltd: R18.97 billion
 
Budget in terms of what they offer. EE (and GT247) is definitely budget. Not that it really matters as it's pretty common practice. Some have the option of registering in your name but not too sure how that would affect trading.
 
Swa said:
Budget in terms of what they offer. EE (and GT247) is definitely budget. Not that it really matters as it's pretty common practice. Some have the option of registering in your name but not too sure how that would affect trading.
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Yeah, when I say "budget" I don't mean that in a bad way. It's a good thing for me. If it wasn't for EE, I wouldn't be a shareholder today (beneficial or legal). I simply can't afford the other platforms at this moment in time.

But this really is important. If the big guys FNB, PSG, SB, etc are also registering the shares in their own name (via a Nominee company) then WTF. I don't think they are, but if they are that would be a massive fail.

We really need more info, coz at the moment it's all speculation.
 
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Shalin_ZN said:
No no, I thought we concluded this is done for "budget" providers.

I would compare SB to PSG, FNB, etc. They are "proper" brokers, certainly not budget.

My understanding from point 6.3 is that the share certificate is not in your name, but rather in the Nominee company.

We really need an official rep from one of these places to clarify this.
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I would argue that both FNB, SB and the other banks have "budget" products that work exactly the same way.

Just like GT247 has premium products for full blown trading.

So EE is to GT247 exactly what FNB and the other bank's budget ranges are.
 
Shalin_ZN said:
Yeah, when I say "budget" I don't mean that in a bad way. It's a good thing for me. If it wasn't for EE, I wouldn't be a shareholder today (beneficial or legal). I simply can't afford the other platforms at this moment in time.

But this really is important. If the big guys FNB, PSG, SB, etc are also registering the shares in their own name (via a Nominee company) then WTF. I don't think they are, but if they are that would be a massive fail.

We really need more info, coz at the moment it's all speculation.
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I'm pretty sure they all do. It's not the big issue Toothless made it out be, it's pretty standard practise.

Especially the banks that don't do brokering as a primary income.

PSG is also an insurance business, not just a trade broker.
 
SauRoNZA said:
I would argue that both FNB, SB and the other banks have "budget" products that work exactly the same way.

Just like GT247 has premium products for full blown trading.

So EE is to GT247 exactly what FNB and the other bank's budget ranges are.
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Do they though? For individual shares? I've looked, and the only ones I've found are for ETF's.

FNB Share Builder may be an option, but the share selection is extremely limited and the prices are quite high. I wouldn't consider it budget, especially not next to EE.

GT247 is for futures, forex, CFD's and other derivatives.

EE is PG's only "share" investment platform (for the everyday man, at least).
 
Shalin_ZN said:
:wtf:

PSG isn't budget. That's my point.

I don't know what you're on about. You were the one that brought up market caps.
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The point is that Purple Group isn't some mom and pop budget operation. EE is their investment platform and GT247 is their trading platform.

You said that SB and FNB are proper brokers. What do you define as a proper broker? Keep in mind that these are banks, you aren't really aware of how much their brokerage business units contribute towards the overall revenue of the business.

You can't think of it this way. They all have to abide by the JSE and FSB rules, which should be good enough. As it's been pointed out, what they do is common practise. Don't listen to House/Toothless and his fear-mongering. He also tried to tell us that we'd all be sitting in jail for not paying e-tolls as he had a source high up on the inside.
 
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