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Looks like those of us with brokers will be dealt with last, Italian. It's probably more complicated.
But if you download the Whitepaper (March 2023) from 'Napster.Foundation' there is a pie chart showing the distribution.
We would appear to be the 'Legacy Stakeholders 7%'.
There were 4.6m shares post consolidation. Not sure what that might have eventually have been.
Morning all.so what are we saying,129 tokens per NM inc share,i.e. post consolidation? i recall they were going to issue 10 billion tokens.is that correct and is that still what is proposed or has happened? nothing for me as yet on HL
The new shares after consolidation were rounded down to the nearest whole number.
So PureG's original number of 129 tokens per share looks to be in the ball park.
Hi Pure, yes that sounds about right. Can you help me with the maths then (in terms of the cash and tokens)? What has anyone else got? I don't think the napster tokens have any value yet, but hopefully they will in the future?
Psy is that 7261 before the consolidation? So 9.6 shares after? That's the only way I can make the maths math
Hey, I don't mind. I had 7261 shares (not many compared to most I guess?) I also got some money from SRS but after the wire transfer fee it was only £3.66!
To be honest I'm completely lost in all this! No idea about crypto, just hoping I get some thing back from my initial investment in melody vr.
Psy - what does that work out per share you owned if you don’t mind me asking?
For what it's worth, I've now received my tokens (1,105.99). I've had some email communications with Pete at Napster who was quite helpful with getting things set up. No idea what's happening now though?!
Yeah, likewise.
But ii said from the start that the tokens couldn't be used on their platform.
Presumably we will now be treated the same as the paper holders that PureG mentioned yesterday.
I’ve received a corporate action saying my shares are deemed worthless so will be removed from my account! Nothing more than that and nothing about tokens still
Thanks for the post PureG. Hope you are keeping well.
I don't think there is any lack of will on the part of Algorand/Napster to move things on. It is in their interest more than anyone's.
Inevitably it was always going to take longer than we would like. Patience is a virtue.........
Did he happen to mention how many tokens were allocated per share held?
Just to let you guys know someone in the telegram group who held paper shares has received the tokens, so at least there's that . . .
Jambor, just managed to find the new board after the recent glitch and seen you post re final payments. thanks very much. not great news is it, but will just have to be patient i suppose.par for the course here, i'm afraid.
Thanks Jambor!
From Pete Wylie, CFO at Napster
Just got this after emailing their office - great!!
The subsequent payments potentially due under the merger agreement are currently on hold as final matter regarding the purchase price of the business are resolved through arbitration.
I would expect to know if there will be a final distribution at some point in Q3.
Thanks,
Pete
Just to be clearer the thoughts on trancches 2 and 3 are my conjectures; I shared them with Halifax who did not rule them out or confirm them.
Interacted with Halifax again on the chat today to see where they might be in this transaction. It seems they have had some intelligence from Algorand but not a lot and their queries are not being answered. What they do seem to think is the 4th consideration is in tokens, but these are in “lock up” for a year, with the year running from 31 March 2023. They are unclear on the 2nd and 3rd tranches; one thought is the amounts have been rolled into the crypto and another is that Algorand exhausted the escrows so there was nothing to pay out.
yes, more than happy to wait out for the tokens, but its the cash payments I'm awaiting news on, their communication has never been their strong point!!
Being patient for the tokens is one thing, and there are a variety of understandable reasons to cut all parties involved some slack.
The other two outstanding payments however are causing some raised eyebrows over here! No news AJ Bell & 212
nothing from HL.
Anyone heard anything from their brokers yet? Nothing from II, really keen to find out on next payments
Interesting find nonetheless, thanks for posting!
morning albert.yes i would agree with that. the interviewers did ask a couple of searching questions which were pretty much sidestepped and i slightly got the impression that jon v was happy when it was over. all in all pretty superficial but as you say there for appearances