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Different shares possibly can come up some day under similar name (although it's a poor practice to pick up a name with spoiled reputation), but not these since company is bankrupt, previously issued shares are absolutely worthless, value is nil.
As per last administrator report (Interpath - Aug/2022) - pages 3 to 5: on average (weighted) unsecured creditors are getting back roughly only 5p in £1.
Is there any possible chance of these shares coming back again
INTU' case Administrator (Interpath purchased from KPMG) says unsecured creditors (including revolving credit facility lenders) are expected to receive only 7p for each 1£ owed to them (page 11 + appendix 9 of Administrator's progress report published on 03 Aug 2021) obviously leaving nothing to shareholders despite seemingly high net asset valuation (£2B NAV on 2019 report)
Not sure why this just suddenly reappeared...
Sent a shiver down my spine remembering my first complete loss here.
Just in case anyone is in the same boat, I have a question....
Without being able to sell the shares for Intu that show in my trading account, I would at least like to be able to use the capital loss to offset capital gains (to stay below the tax threshold for 2020/21). Does anyone have any idea if you can write-off the full value when you haven't sold them, with no way to sell them, and still showing in my account (with a value of about 1.8p each)?
What does this mean?
Shouldn't we as share holders get something back due to the fact that Intu already came to an agreement with creditors and are now keeping four of their centers. Surely if they don't sell up all of their properties and carry on trading than we should still get something
There is no hope, Intu is being disbanded and the shopping centres will each be fully independent from each other within a couple of months. What was 'intu' is gradually being dismantled to provide an orderly transition for the centre's to become independent, and once that process is complete it will then just be a case of dealing with any final shut-down measures for what was Intu, whilst the centre's themselves continue to function in their own right.
It doesn't change a thing for shareholders, size of gross equity is too low, if you adjust to net equity for losses, asset devaluations (market value or retail spaces is hammered) and writedowns (failed rent collections/AR, defaults) then equity gets negative (in range of -1B to -0.7B from +1.8B reported in dec-2019) meaning existing shares value is zero anyway, even debt holders are hit because there's no way they can recover full face value of it.
"- British shopping centre operator Intu Properties is in talks with shareholders and potential new investors to raise funds to shore up its balance sheet."
https://www.marketscreener.com/news/Companies-seeking-restructuring-to-secure-post-COVID-future--31192429/
From what i understand,
In voluntary administration..."voluntary" key word.
Company being restructured.
Talks ongoing as to exit strategy from admin. Believe discussions concerning liquidation on Aug 11th.
The above little snippet suggests maybe no liquidation and looking at a return to market?
Any thoughts?
what does this means to share holders? Does it going to help or still current shares are worth less?
www.propertyweek.com/finance/intu-sgs-confirms-agreement-of-range-of-financial-measures-to-protect-it-from-default/5109754.article
It will to let me PM you
Hi
I am new to all of this and I have been following this board now as I lost shares Intu. It was the first ever stock I purchased and really am not sure what the next step is. I only lost a small amount so it’s not too bad. After seeing your message I’m curious as to what can be possibly done. This won’t allow me to message your privately so would appreciate any information here please
Thanks in advance
Hi all,
I am trying to recover my shares in INTU thru a solicitor, it may still be hope. If anyone is interested to join in pm.. but quick.
Administrator just released proposal and it's looking bad for shareholders.
Cheers
Will we see these shares again or get our money back ???????
https://intu-public.s3.amazonaws.com/c/admin/200626-letter-to-tenants-customers.pdf
Are amazon their web host?? Or what connection does amazon have with intu?
Mmmm have you read any of the intu pdfs? One of them I opened come back to an Amazon address? Have amazon got a stake in it?? Or they after space for their amazon grocery stores that are set to open this year
I have seen small increase in intu?
I am on trading 212 .. bought 4000 last min@2.2p each 65gbp-80 odd usd .. so although trading withbthis instrument has been suspended .. i still have these shares .. so they been down 2.78 I think for since admin.. today them. 4000’turned green with just hit .60 cents so and increase of 3 dollars this week,, did any one else buy rock bottom
I think there has been a marginal change - and have slightly increased.. just have wait I reckon till the admin team realist on intu to sell what you have
This is a test
I wouldn't call it "usually", sometimes - yes, often - may be, but they do get it occasionally wrong too, even though article does mention £100m "profits" - if you allocate it across whole portfolio (including losing positions) then it might be not that much anymore.
it was cancelled from London stock exchange. the news said yesterday
Suddenly my dashboard shows Intu bid price at 177.60.. called broker and they are investigating.. anyone else have similar posting?
the news said intu shares had benn cancelled,so all shares is ZERO