Link Market Services

[nev25]

Who are Link Marketing Service

I just got some mail from a Telstra that I have shares in saying-

Your CHESS sponsor (Broker) has requested Link Market Service Limited to amend your Bank Account details

Now Ive just opened a CDIA account and Details in the letter indicate the Dividends will now be paid into this account

Firstly Do I have an option (doesn't bother me But would have been nice to be asked)
Secondly how did Telstra find out (Privacy act???)
Thirdly Whats it got to do with Link Marketing Service I thought Telstra would have handles this them self??

 

[skc]

Re: Link Marketing Service

Who are Link Marketing Service

I just got some mail from a Telstra that I have shares in saying-

Your CHESS sponsor (Broker) has requested Link Market Service Limited to amend your Bank Account details

Now Ive just opened a CDIA account and Details in the letter indicate the Dividends will now be paid into this account

Firstly Do I have an option (doesn't bother me But would have been nice to be asked)
Secondly how did Telstra find out (Privacy act???)
Thirdly Whats it got to do with Link Marketing Service I thought Telstra would have handles this them self??

All listed companies have a registry company to handle their paperwork / voting / payment of dividends etc with shareholders. Link market service is the 2nd largest shareholder registry company in Australia. The leader being computershare.

I think most companies don't send out paper cheque in the mail anyway so you must nominate an account, but you always have a choice which bank account you want your dividend paid into.

I don't know what CDIA account stands for so no idea how Telstra finds out...

 

[Bill M]

Who are Link Marketing Service

I just got some mail from a Telstra that I have shares in saying-

Your CHESS sponsor (Broker) has requested Link Market Service Limited to amend your Bank Account details

Now Ive just opened a CDIA account and Details in the letter indicate the Dividends will now be paid into this account

Firstly Do I have an option (doesn't bother me But would have been nice to be asked)
Secondly how did Telstra find out (Privacy act???)
Thirdly Whats it got to do with Link Marketing Service I thought Telstra would have handles this them self??

As skc rightly points out, linkmarket services is a share registry, it is bound to be looking after some of the stocks you hold and I know Telstra is one of them.

You are probably with Comsec, am I right? If so they are changing banking arrangements right now. They are closing down the present bank accounts and will be using the new CDIA account with their customers. As Comsec is your broker it is their duty to notify the registry of any changes. This would happen if you change address or banking details. Comsec are doing the change of banking details for you so you don't have to do it yourself. If you don't want your dividends to go into that account then yes you can change that.

I would not be to concerned about it but if you were really worried you could call linkmarket and they will probably tell you what skc and I have told you anyway. All the best.

 

[DocK]

If you are with Commsec - go to the Portfolio tab, then the Accounts tab, then Account Details - there's a Settlement Accounts section that sets out where you've directed your dividends to be paid. If you scroll to the bottom of that page you'll see a section called Dividend Direction where the choices are to have divs paid into your settlement account electronically or notify the relevant share registry (Link or Computershare) yourself - you've probably nominated the first, or it may simply be the default.

 

[Miner]

Hello @Joe Blow
It appears to be the thread for LNK and if you can change the header would be great. I searched using LNK before posting and could not find any.
Any way some observation on the trading update and market reaction today.
https://www.asx.com.au/asxpdf/20190531/pdf/445hmckpssygqc.pdf
Face value annual turnover change is not much.
However, some of the points on the report are concerning.
Link Administration services and super fund implication.
Additional cost towards client migration would continue in 2019.
But does that only affect the massive fall on share price today?
Some of the recommendations immediately changed from buy to hold. You would question what kind of idiots these experts are who change their face watching the wave? We call them experts? What risk management and forecasting they really offer? And we pay 1 to 2 % fee for these jokers.
Morning star on 24 May 2019 said the stock was undervalued on 24/5 and fairly valued on 23/5. and every day since 24/5, the share was undervalued. The quantitative method did not probably allow the risk factor here. Two brokers prior to the crash of 31 May declared LNK as a strong buy.

Recommendation Price Target and Rating History
24/05/2019 undervalued Fair Value--Liquidity--Fairly Valued on 23/05/2019
Morningstar™ Quantitative three-star rating

Stock price as per closing on 31 May 5.970 - It came to lowest on 31/5 in last 52 weeks unless Monday lowers it further.
31 May 2019
DAILY-1.790-23.067% DAILY VOLUME 20,898,488 (almost 17 times more than the shares sold on 30 May)
MARKET CAP
4.14bn
BID5.930 OFFER 6.020
My guess is LNK probably will offer more opportunities on next week for high-risk buyers.
Declaration - I gambled to buy a small lot today as an opportunity as I have been looking to invest in LNK for some times and always felt the share was a high price for its value. But today's drop has changed the basis.