Speak EV - Electric Car Forums banner

1 - 6 of 6 Posts

·
Registered
Joined
·
756 Posts
Discussion Starter #1
Are there any UK Tesla shareholders around who know how to participate in shareholder voting? My shares are through Hargreaves Lansdown. Many years ago, I managed to cast my vote by getting through to a US based company that were contracted by Tesla to collate votes. This only seemed to be a one off for a specific shareholder vote though. Another time, I was able to cast my vote by sending Hargreaves Lansdown a message and I was told that my vote would be "passed on". Lord knows if that happened or if my vote was manipulated to the preferences of some shareholder.

Anyway, has anyone figured out a better way to cast shareholder votes from the UK?
 

·
Registered
Joined
·
635 Posts
Are there any UK Tesla shareholders around who know how to participate in shareholder voting? My shares are through Hargreaves Lansdown. Many years ago, I managed to cast my vote by getting through to a US based company that were contracted by Tesla to collate votes. This only seemed to be a one off for a specific shareholder vote though. Another time, I was able to cast my vote by sending Hargreaves Lansdown a message and I was told that my vote would be "passed on". Lord knows if that happened or if my vote was manipulated to the preferences of some shareholder.

Anyway, has anyone figured out a better way to cast shareholder votes from the UK?
Buy 10% of the Tesla, then they have to listen to you.
 

·
Registered
Joined
·
1,184 Posts
Generally it would depend upon how the shares are held. If it's through an ISA or SIPP, then you personally don't own the shares, they're held on your behalf by a nominee company which is legally separate from whichever platform you're invested in such as Hargreaves Lansdown. That means you don't have any voting rights.
 

·
Registered
24 kWh Nissan Leaf
Joined
·
111 Posts
Ah. Thanks for that info. Mine are in an HL ISA. I wonder if the nominee company exercises the voting rights (😒) or abstain which seems fairer?
 

·
Registered
Joined
·
756 Posts
Discussion Starter #6
I hold my shares with HL via their Fund and Share account (so it's neither ISA nor SIPP). I got an official reply back from HL about this:

Thank you for your enquiry. We have checked our records and can confirm that we will unfortunately not be able to facilitate attendance or voting at the Tesla Inc 2020 meeting. The reason for this is because Tesla Inc is an overseas registered security. In order to be able to hold and trade overseas stocks, Hargreaves Lansdown holds the stocks as CREST Depository Interests (CDIs) as under UK law foreign stocks cannot be handled directly in CREST (the UK settlement system).

CDIs are issued by CREST, and one CDI is the equivalent of one share of an eligible foreign stock. Essentially, for each stock available as a CDI, CREST has the required number of shares held in its name (or the name of an intermediary acting for it) at the central securities depository in the company’s home country (these are the foreign equivalents of CREST – for example, DTCC in the US, Euroclear in much of Europe, Clearstream in Germany, SIS in Switzerland).

As the shares are not held in the name of Hargreaves Lansdown, we are unable to submit voting or attendance requests for overseas General Meetings as we will not appear on the register of shareholders. We apologise for this inconvenience, however if you have any further queries or questions please do not hesitate to contact us.
Is there any way to own Tesla shares in the UK that allow me to participate in shareholder votes?
 
1 - 6 of 6 Posts
Top