What is the name of your state? Victoria
My issue is as follows:
1) I bought few months ago some installment warrants via broker.
2) Later, I decided to pay strike price and take delivery of the
underlying shares. I sent the money to the issuer of the warrants
and week later received the shares.
3) However, the installment warrants, due to processing error by issuer, were
not cancelled from my holding and they were left as available for sale.
4) As I am an active trader (50-70 trades per month), inadvertently,
prior to going on holiday, I sold the installment warrants via broker as they
were about to expire. At this point, I didn't realize that they shouldn't
have been there (my holding).
Now, issuer demands the money back. However, I have applied the proceeds
from sale of those warrants to different trades which are currently showing
loosing positions, therefore, I don't want to sell them now as I would incur
a loss.
My question is:
Has the warrant issuer, who made a mistake of not cancelling the installments
from my holding, the right to demand the money back and by specific date ?
Your answer would be much appreciated, thanks.
My issue is as follows:
1) I bought few months ago some installment warrants via broker.
2) Later, I decided to pay strike price and take delivery of the
underlying shares. I sent the money to the issuer of the warrants
and week later received the shares.
3) However, the installment warrants, due to processing error by issuer, were
not cancelled from my holding and they were left as available for sale.
4) As I am an active trader (50-70 trades per month), inadvertently,
prior to going on holiday, I sold the installment warrants via broker as they
were about to expire. At this point, I didn't realize that they shouldn't
have been there (my holding).
Now, issuer demands the money back. However, I have applied the proceeds
from sale of those warrants to different trades which are currently showing
loosing positions, therefore, I don't want to sell them now as I would incur
a loss.
My question is:
Has the warrant issuer, who made a mistake of not cancelling the installments
from my holding, the right to demand the money back and by specific date ?
Your answer would be much appreciated, thanks.