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Yes apologies - i misread.
Surely if you are a GGP holder, the trade is to sell existing GGP stock and buy SVE. Essentially doubling GGP holding for no cost.
Hi Dan - he could sell GGP but Halifax does not allow purchase (or sale I suspect) of SVE shares.
Why could you not sell your GGP?
You can trade SVE shares with Interactive Investor,they offer a pretty good service,I am with Halifax,and i wanted to sell my GGP shares and put the money into SVE and found i couldnt. having said that, i have been selling off my GGP on the rising market, DL
Hi - thanks for your messages - hopefully up and running shortlyā¦
Hi II still do. :)
Ii do . Remember though to only do it in a trading account as delisted companies cause all sorts of issues in an ISA or SIPP
HL did this morning.
Hi, looking to buy some SVE but my normal dealing platform (Halifax) no longer allows transactions in SVE - any pointers as to which platforms still facilitate trade in this company? Thanks
In the long run the rational thing is youāll end up with more GGP shares than you had before. Iām into my seventh year of being invested in GGP and iām very confident with my investment there.
Good luck.
Agreed Mark. Yesterday I sold all my GGP at about 8.5p and re-invested all of it in additional SVE shares at about 8.75p Once they convert I will be just about back to break even on GGP - assuming GGP price does not collapse from here. I'd better get on to II myself!
Hi Zarro, I think the spread is as has been for a long time just down to a lack of liquidity. Anyway just submitted my vote in favour via ii. I do agree with you both though,even with the spread and the recent rise of both SVE and GGP the maths still looks makes SVE look a good buy.
ATB
Arbitrage appears to be worth about 30% over a month. Surprised the spread has remained that wide....so maybe the de-listing is not as nailed on as it appears to be or the GGP price today is considered more than 30% too high - But what do I know? These are crazy times. Anyhow, I couldn't resist.....
Possibly the opportunity for a bit of arbitrage tomorrow if the SVE sp doesn't go too crazy and the GGP sp holds up?
Nd
I would like to think Ā£1 million in your thinking is much more than it will cost. To deregister a company costs a tenner. Reasonable admin costs may take it to 5 figures but then you have creditors to pay. There should not be too much to pay there. If any employees ( directors can be employees as well) and salaries involved then redundancy and potentially pension costs would need to be sorted. I would like to think the cash in the bank and the sale of assets other than GGP and AAU will more than cover it
Does anyone have any clue how much a liquidation such as this costs? Iām completely in the dark myself but using a (hopefully) high estimate of 1m to work out what shareholders should get.
Greatland and Ariana shares are worth about 6.5m at todayās prices. So even if you discount the other residual holdings to be sold pre liquidation and discount 1m for professional fees, weāre looking at 5.5m coming back to shareholders plus or minus Greatland and Ariana share movements in the couple of months or so that the process will take to complete.
Is that about the size of it?
I would agree, as a simple calc. assuming you have 10,000 shares in Star they would be currently worth Ā£700 @ 7p at todays increased price.
Under the proposal you would receive:
GGP: 10,000 x 1.33 = 13,300 shares at 7.4p worth Ā£984
Ariana: 10,000 x 0.199 = 1,990 shares at 2.1p worth Ā£42
Total value Ā£1,026 plus the potential of a share in any cash left after expenses
May therefore make sense to vote in favour rather than selling now
About time too!
Nd
So yes the GGP and AAU shares will be transferred in specie and anything else will be liquidated to pay expenses and if anything left that will be distributed in cash. Thatās my āat first glanceā understanding, but please check as only skimmed through.
Only had time to read quickly but think we will get 1.33 GGP shares for each SVE shares plus whatever Ariana plus a little extra if anything left from sale of the rest of the portfolio. Nice š
Does it mean they are giving us shares in Ggp and Aau or are they selling those shares and giving us the money?
Philip j Milton spent about 30k to increase
A bit of confidence at least
Wonder if there is anything happening here or we're just paying the people to log on and check emails. Seems like the investments in place are now reliant on other movement therefore no cashflow is needed right now.
Large trades shown on Yahoo Finance, but none here.
Why would that be?
Nd
I know that SVE had a sizeable holding at one point...this still a thing?