Katherine Roe, CEO at Wentworth Resources talks through the Ruvuma gas development in Tanzania. Watch the full video here.
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I've heard nothing further from ii, so I think it's safe to assume they have not been updated either.
It looks like something Algorand are working on, and that they would like to go down the token route if they can.
If this happens, our life as Napster LTHs looks set to continue !!
thanks for that HG.it seems fairly clear from what HL have said that if they do issue the crypto there won't be a cash alternative. so unless the various trading platforms can come up with some scheme to get the cryptos to us we will lose out.if they don't launch the cryptos by the 30th march then there will be cash payment instead,so we may be better off if they don't launch in time.incidentally im still in correspondence with HL regarding the putative escrow and shareholders payments.they completely ignored my question regarding these and simply in effect repeated what we already knew about the initial cash payment. my latest message to them is,needless to say,somewhat more acerbic in tone,insisting that they address these specific issues. in fairness i have always been entirely satisfied with HL,but they are a professional service provider and i expect them to deal with my questions in a professional way.
This is the latest response has at 16:05:
The team have said that they are in contact with the company to receive the outstanding payment and also In terms of the crypto currency, they are also trying to establish whether there will be an option to not receive these. as we, more than likely wont be able to hold these or have any mechanism for crediting customers with these. Its in discussion at the moment and we will update customers when we know more. That's all what they can tell at the moment.
Do anyone got shares in Freetrade...
Looks like my shares of Naps erased and disappeared fully from january .anyone got same
I strongly suggest people making formal complaints to their brokers who are not paying the money. Demand a proper explanation of what is going on. Refuse to be fobbed off with nonsense. Ask for the situation to be looked over by the financial ombudsman.
It is outrageous in times of 11% inflation brokers hold onto clients money for an undisclosed amount of time. If more people do not stir things up, then they will drag this out a lot longer and take the pisf.
I would not be surprised if we get payment in Cows,Sheep's,Pigs and some Dollars and Mongolian currency;)))
afternoon albrert.thanks for pointing that out.agree the outcome may not be quite as bad as we feared(although quite bad).not sure how the current economic climate(and the likely worsening outlook) and the current problems being experienced by the crypto market,is going to affect the prospects of a new coin/token being issued in next 9 month or so,but i am inclined to agree that the cash payment is looking more likely than the tokens.we will see.would be good to get a clear and definitive statement which all holders could reference setting out exactly what the full position is.perhaps in time?
Many Thanks Italian.
In my post of 19 May I said the 4th payment (cash in lieu of tokens) would be $2.5m, rather than $25m
Two other posters did correct this, but my apologies anyway.
I've heard nothing more since from ii, but they have been on top of this all along and any update they might give, I will pass on.
In their December 2 RNS they said to contact 'Transfers@Napster' for any information required. It might be nice if they came out with something anyway. Personally I haven't got a clue what the company is doing right now.
IMO the most likely outcome will be the 4th payment in cash. A strong dollar would be good, and the damage not nearly as bad as we feared.
28Jjaczar ,if you scroll back to my post on the 27th may at 17.45 you will see i have copied the reply i had from HL with an extract from the reply they had from napster. you may be able to copy this to your broker. note the "snip",as they call it, does not include reference to the apparent additional payments we may get in certain circumstances(these are apparently possible additional payments not linked to, or dependant on, the outcome of the proposed crypto element ,which may give rise to a separate additional cash payment if the crypto is not launched by the 30th march). i am in correspondence with HL regarding these possible additional payments, which they have not addressed and am awaiting their reply. details of these can be found in a post by albert pode a while ago, but he was not able to post a copy of his broker's message detailing them, so all you can do in that respect, i suggest, is to refer them to your brokers as additional payments you understand are also possible. hope this helps.
Perhaps it's also worth contacting napster.
It really is dreadful that they haven't paid some brokers 3 weeks after others.
Just checked in on this BB to see if anything was progressing since NAPS got delisted and was surprised to see this thread about what has been happening in recent weeks….
Can someone who is able to, please kindly send a message attaching a relevant news article or similar that clearly outlines this payment plan that’s being implemented for NAPS holders.
I have a few hundred shares (post the consolidation) sitting frozen in my trading account, which is based overseas as I am currently non resident from UK.
My overseas account provider is claiming no knowledge of this latest development for NAPS and is not currently showing any real interest to take action to follow-up about it.
I therefore need to write to them attaching some evidence of the situation in order to get them up of their bums to investigate and hopefully pursue for the payment to come thru sometime soon.
Much appreciate for any help that can be provided.
Lloyds say they have not received any monies but are aware other companies have received it. They are still leasing with the company. Personally I don't think Lloyds care and will just wait until the money comes, If you are a Lloyds customer get on to them know.
I phone and email them around once a week.
Perhaps more people should be doing this and they will get the money quicker.
It really is unbelievable we have 10% inflation whilst they hold onto our money.
My initial payment appeared on Tuesday 14th.
seems pretty appalling if anyone is still waiting for the initial payment.i can understand and accept the there will be uncertainty over the crypto aspect and how to deal with it,but the initial cash element seems very straight forward. stroppy emails in order !
Im via the Halifax . No info, no money, at all.
Is anyone still waiting for their money on this?
ok sofas, understand now, thanks. i agree with your workings.there were a little over 3.4 billion old napster shares, but the broad picture is as you say. do we actually know what has happened to matchett and han****? personaly can't see them fitting into the algorand set up and presumably their holdings will have been diluted in the same way. obviously there may be other facets of the deal to which we are not privy, so difficult to say exactly how they have fared.
$12.5 expected payout=~£10
3B old Napster / 750 = 4,000,000
Expected payout resulting from takeover 4,000,000 X £10 =~ £40m
Price per old Napster share : £40m / 3B shares = 1.33p
So, if we realise £10 payout it will be for most long term holders a painful loss of 75% / 90% or thier initial investment. It looks that also the finance company got stung…and always AM & SH we’re laughing everyday and all the way to the bank.
sorry lofas.not following your drift.can you elaborate?
If the below comes …it would be 1.33p per old naps share.
Your figures sound about right to me. Would be useful to know how many Napster shares exist in total nowadays to try and fill in the gaps.
Just found a recent article on the plans for Napster tokens: https://www.benzinga.com/markets/cryptocurrency/22/05/27288669/napster-and-limewire-revival-how-nfts-are-bringing-former-music-download-platforms-back-to
So we should get 6.06 dollars per share in cash and another 5.5 dollars per share in crypto and perhaps another 1 dollar a share in cash within 12 months.
So the whole deal would be valued at around 12.5 dollars per share.