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Hi Kebark,
This wasn't really a dividend even though 212 have classed it as such. This is part of the sale deal.
We had the initial payment upfront and this second payment just received was the Escrow, a third possible payment will be the security holder representative reserve. That third payment is around 9 cents a share. However I suspect the security holder representative (AM) has probably burned though much of that.
Finally will be the tokens, which we are working on collecting, but may take some leg work on your part. I have been in contact with the CFO to this end and hope to relay more information here next week, after a hopefully successful token transfer.
...are we set to get more dividends in the future, or was that a one off? Rather funny seeing a payment on T212 and not actually having Nap show up on my portfolio on there...
This time IBKR was fast :)
2023-06-14 NAPS.OLD(GB00BN326503) Cash Dividend USD 0.917446 per Share (InterimLiquidation) - $1,099.10
We will be subject to a lock in period and they aren't formally released so no trading for a while.
I tend to agree, I don't think they will be too volatile, and could even be pegged. Others think they will be volatile and actively traded. All guesswork at the moment but time will tell
So are the napster tokens being traded anywhere?
Are they likely to go up in value in the coming years?
I thought they were just tokens to be used for downloading music. So can't imagine they will be very volatile in price. Any thoughts on this?
Very good of you PG.look forward to hearing further as and when.
Hi guys
Glad to see the payments coming through. I also received my payment for AJ Bell earlier today. I am making progress with tokens and have been advised to allow two weeks for the process. If successful I will report back on the steps I took so the process can be easily repeated by yourselves. I may be a little slow on giving you guys updates as I am buying a house and will be moving e.t.c so please be patient with me!
Mine has arrived as well. Already converted into sterling by the looks.
I gave them a bit of a nudge at the week-end by way of a secure message. I don't know if that did the trick. (Do I get a bonus??).
Yes - received cash today which is good. Fingers crossed to everyone else
Just for the tokens now
Good news for those on II.
Good news for users of the ii platform. I received this today:
Cash Distribution
Terms: Approximately USD0.918491 in cash for each share held
Pay date: Upon receipt
Napster Music Inc has announced a Cash Distribution, whereby Holders will be issued with approximately USD0.918491
in cash for each existing share held.
The cash will be issued to entitled shareholders upon receipt from the company.
Your account will be updated upon receipt of the proceeds but in some circumstances there may be delays in the
proceeds being credited to us. Please allow 10 working days for your account to be updated.
Evening albert and PG. yes albert ,i would get on to II asap, as they need to adopt a responsible and professional approach to matters,rather than the dismissive one they seem be currently adopting. very interesting news ,PG.look forward to hearing further if you get any more news.
Yeah, well done italian.
Time for me to contact ii on Monday, I think. Once they were at the forefront. Now they are behind everyone else.
Great news Italian.
I understand someone who held through Halifax (?) Managed to break the deadlock and has received their tokens directly. I have attempted to follow the same route and will report back if successful
Just to confirm the i have also received payments at 71p per share into my HL accounts.so just the tokens left now.
Afternoon albert et al.i will have to check my hl accounts at weekend in view of offler's post.perhaps I've missed them as i don't really check the cash section on a regular basis. have to say im not particularly happy with II,as i have an account with them for some non uk shares which i couldn't hold in HL.i think they have become very expensive with the monthly fee and i don't find it a particularly user friendly platform.just my opinion of course. others may feel otherwise.will let board know if I've had further payments tomorrow.
I’ve chased II again today, we were amongst the first to receive payment last year but apparently they have nothing to tell us at the moment!
Offler - 3x payments!? What was the amount per share you were given from all 3 ?
Morning all,
I have received payments into my HL account, one on 9th June and two 22nd of June, two listed as coming from Napster and one listed as coming from NN Inc
Thanks Glennstar. I guess that's something although progress is being made at random.
I'm no further with ii than you are with HL, Italian.
I've been unwilling to 'nag' at them before, as they were on top of everything to begin with.
But I do pay them a monthly fee, which keeps the account open, but not much else.
That said, it's likely they can only do things when they get told. Everything is being done piecemeal even before we get to the tokens
Very helpful,glenstar.appreciated. i will wait a while to see if i hear from hl,without having to press them.agree that the escrow payment is better than we might nave expected.
I have received a corporate notice from Halifax on the payment of the 2nd/3rd tranches of consideration. This was made into my account on 21 June at a rate of $0.918935 per share and was translated at $1.27 to equate to 71p per new share. Interestingly the escrow funds were set at $5.2m and $0.5m which in total based on 4.6m shares were worth $1.23 per share max so the final payout is around 75% of that. A far better outturn than I expected.
In terms of the $Napster Halifax has reiterated that tokens are not eligible on their platform, though they continue to investigate options. It is noticeable that in the US, EU and UK (debated as recently last week in Commons Committee) that regulation of tokens as securities is actively being sought and once these are in place the UK banks may be allowed to work with them. Given the $Napster are not operable till March 2024 that may play out well.
Halifax did not quote the 129 $Napster tokens per share other correspondents below have mentioned, leaving the matter open.
Sea tank,it is just a suggestion but i think you might have to be a bit more proactive with II.if you read pension deficit's post at13.28 on the 9th june, you will see he sets out verbatim the email that holders on HL have had quite recently.i think it is a reasonable approach by them to matters atm and you will see it clearly acknowledges, in effect, that they as a platform have some continuing involvement in matters.i fail to see how II can properly seek,as it sounds like they are trying to do, to absolve themselves from any further responsibility towards you.if you care to advise them of the content of HL's note they may perhaps be more inclined to assist.as the registered holder of your shares they are the first line of communication with NMinc( from whom the consideration payments etc are due) and it seems to me that if they refuse to assist you would have good grounds for a complaint.
Jambor's post 0n 10/5/23 refers to an email he had from pete wylie, the napster CFO. perhaps if he reads this he might be able to provide the email address, which might help.
there may also be a general enquiry email address for the napster foundation,which you might be able to find,as it seems that the foundation is overseeing the arrangements(whatever they may prove to be)regarding the tokens for those investors holding on platforms like HL.
sorry if this is already clear to you,but hope it may help a bit.
From Napster document
https://docs.publicnow.com/viewDoc?hash_primary=C243C084BBACCC4CD2FA94494D5A4CDBAF567183
"Shareholder wish to receive a stock certificate in respect of their NM Inc Shares, this can be
requested by contacting the Company on the following email address transfers@napster.com
But i don't know if this is a valid email address?
Hi, could someone help provide the contact email of someone at Napster or Algorand or the administrator of the scheme so that I can claim my tokens? Interactive Investor have told me that they are writing off the shareholding I had and have not been in touch about tokens.
I need a contact for someone who can help me claim.
thank you for any assistance
Is it possible to keep my paper shares in napster group plc?
Or do I have to exchange them for tokens?