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Dirty H:
1. Who is NM? The new company incorporated in Delaware (tax haven) in the States for the sole purpose of buying Rhapsody / T/a Napster
2. You mentioned we are voting for delisting and sale valuing shares at 1p. That means if I buy, I will be in inevitable profit? In theory yes, but only if we are able to dispose of our shares some day (through further buy out or a US listing eg NASDAQ) with a sp of at least £7.50
3. You mentioned £7.50 per share. I was confused between this and 1p per share as per point two.? Your 1p share in NAPS will be worth £7.50 in NM Inc (multiplied by 750), but your shares will be consolidated / divided by 750 to make the ratio of shares to value / cost the same. In other words, you will have fewer shares for the same value using a 750 multiplier.
4. Is there any way I can buy today and keep hold of my stock until listing in the USA? YES - see point 2 above
5. When is US listing expected to take place? In 18 months (could be longer than this but they also say this cannot be guaranteed)
...and to be clear, our consolidated shares will be with NM Inc, not left with the Napster Group PLC Shell (worth £Nil)
NP - it's the de-listing + associated sale (the price of which has already been agreed valuing our shares at 1p) that we are voting on
Thanks MrH_m
It was just because of are vote on being bought for $46m as like a normal take over
As I said it's s new one for me
We are voting re "The proposed disposal of Rhapsody (a subsidiary of the Company containing almost all of the Group's assets and liabilities) to NM Inc for US$45.6 million." If passed then your shares will automatically be consolidated to £7.50 per share
No Dead - to do that they would have to offer to buy your shares
I've personally not been involved with a company going private (have been in one's to be bought out thou ),out of curiosity could the directors and major shareholders oust pi's
I.E- if over 75% say yes then is that saying yes to the majors buying out the pi's for 1p a share
Just like when a company normally gets taken over and the pi's vote for how much they want per share