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SOLD OUT may have made more as it is leaving AIM but 30% profit and happy with that.
should do well on the Nasdaq
Good to see strong growth and margins but disappointing operating profit, on the back of rising operating costs/expenses and greater R & D expenditure. Again no mention of dividends which to say the least is disappointing for LTH's. The cash holdings now almost match the company debts which again makes the lack of a dividend surprising. I can only think that either the money is ready for another acquisition or more likely a sweetener for the planned pull out from the FTSE AIM and sole listing on the US Nasdaq market.
LIKE a yo-yo to day lol
The same thing happend with Amryt Pharma in November last year. Barclays at that time said they couldn't hold Nasdaq ADRs in an ISA Account. From what others have written this may not have been quite accurate. I then checked the position regarding selling and rebuying in a SIPP account (not with Barclays). I was informed that you can hold ADRs in a SIPP, but that you wouldn't be able to trade them as per a 'normal' share. I chose to sell Amryt, rebought in a nominee account and waited for them to be converted to ADRs. That transfer was pretty straighforward. The subsequent drop in the Nasdaq has meant that actually the better plan would simply have been to sell the holding! Also, just to note, there are tax implications with such holdings held overseas (assuming they go up...lol)
I forget the precise figures, but from what I remember Amryt justified the transfer to remove the cost of the dual listing and that c90% of trades in any one day were on the Nasdaq exchange.
Sadly, I suspect more companies will choose to follow Abcam simply because there is a far larger market in the US for trading shares. Given this possibility, I equally suspect more brokers ( and regulators) will in time facilitate the process to transfer holdings in order to not lose out on investments that move overseas.
My SIPP is with Fidelity. Can only hold foreign shares in an ISA or Investment Account. Pretty upset but total understand why they want to clear off abroad. May take a similar stance myself when Truss comes to Office.
To keep you all in the loop and to save Abcam the hassle of responding to everyone here is my response from them:
"...the Board of Directors have decided to pursue a sole listing on NASDAQ and will continue consulting with shareholders for approval to delist from AIM at a General Meeting later this year. Today, our shares are convertible on a 1:1 basis from AIM to American Depository Shares (ADSs) listed on NASDAQ. If we were to go through the process of delisting, in line with precedent, we anticipate there to be mechanisms in place to facilitate this conversion and support existing AIM ordinary shareholders.
We will continue to communicate with all shareholders in the coming months and will provide further details of the impact and the options available to all shareholders, including the publication of a circular which will cover all material information on the specifics on the matter, ahead of an expected shareholder vote later in the year."
Trouts, I contacted my provider and they said they are waiting on further information from Abcam before offering advice and actions.
Most SIPP providers will happily let you hold US shares in your account. You'll need to complete a W-8BEN (US tax) form to avoid being stung on taxes (your provider should have one online). It may be worth contacting them to see if they are making special arrangements for the transfer.
Great Britain - going down the Kazhi.
I presume that shares held in a SIPP will need to be sold? That will hurt the majority!
looks like a good move for ABC to get away from this country and of AIM might get to TRUE VALUE
Alas_Smith, yes it does. Thank you.
Transactional costs (broking and currency) I guess will increase whether it is in an ISA or not as it does for my company SAYE scheme, where they are on the NYSE.
SussexEngineer, shares listed on foreign exchanges can be held in ISA. An ISA is simply a wrapper to distinguish treatment from taxation. Within and gains and dividends can be taken without penalty. Without and dividend income is limited to £2k before attracting tax at 8.75% to 33.75% and capital gains can be made up to £12,300 free and thereafter at 10% to 20% depending on marginal rate.
Capital losses cannot be declared for assets held in wrapper.
Hope this helps
I also note that at the point the company abandoned its dividend payments (interim divi paid h/y ending Jun-2020 was the last one) in order to "maximise longer term returns for the shareholder", the share price was around £13.50. It's now below £12, so that's going well then.
I'm in a similar position - lots of questions here that I've not been through before. In addition to the ones you have, does this crystalise a gain/loss on the shares if they are transferred to Nasdaq?
We know that they still need shareholders approval to pass this but it is likely that management will not have gone out on a limb without having the buy in of major shareholders. Though I know that a similar venture by Unilever ended up as a fiasco where the UK delisted eventually ended up as a Dutch delisting, when there was a major shareholder revolt.
Have to be honest I don't want an argument, all I want is a fair deal and I have large concerns this might not happen. It might be a case of watching this space and see how the press and major investors react to the proposal. Have gone to Abcam Investor relations website to ask questions, as I am so shocked. With the Nasdaq element it is almost as though the tail is wagging the dog.
I have seen that Abcam are to go sole listing on Nasdaq and therefore to cancel the Company's shares on AIM. I have not been in this position before and I am not on face value too happy about this. I am a LTSH of this stock and have been happy with the history and overall performance. This though is a kick in the teeth. The statement does not say what is happening to existing shareholders on the UK stock market.
Clearly this is a voluntary delisting, as they are still to trade on the Nasdaq and the question comes what happens to us. Will they offer to buy the shares off us at what could be a derogatory price? Paid a market price from the listing on the Nasdaq for the extra shares they sell to compensate? Offer us a deal that we can't refuse? Perhaps transfer our stock holding to the US, though I don't know how this affects an ISA? Leave us to trade over the counter?
If any of you have been through this on another company please let me know and let me know what happened? Were you better off, worse off or it balanced out?
and this bb is not running lol just like abcam going down the toilet lol
well i HAVE CLOSED MY LAST SHORT today @ 10.97 quite happy with the profit :-)
2nd short closed
SHORT OFF LOLP
denby69 - what drivel.
THE SP on this site is not accurate this is as I have said before highly manipulated
and not really worth logging in to
Yeah right. That's why it says "Price 1177.00" alongside your latest post. And has since gone up to close at 1184.00. You really don't appear to know even your basic ABC.
down @1162 now lol lordloadsoflolly