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Hey, this is the first company that’s de listed on me. I kept my shares and they show up in my trading account albeit of course I can’t trade them. I didn’t request paper share certificates. Thought leave them recorded on my platform may be easier. Is this something I should do? Who would I ask my platform or allied minds direct? Lastly how to we establish what they may be worth and how do we go about trading them? Any help/opinions appreciated
Tuesday 29 November
When is scheduled to delist?
I note, having looked at the Circular again, that consideration is being given to arranging a matched bargain facility. Expect the shares to rally should this be confirmed before delisting.
I would regard the situation as similar to a company going into voluntary liquidation [most definitely not a liquidation due to solvency issues]. The shares will probably still be displayed on your account at book cost but nil value. It is very important to read the corporate action statement from the broker, especially if held in an ISA, as they would have to be transferred out. I'm not sure if they are planning to cancel the CREST facility, but if they are, they will sent paper certificates to be held by your broker.
It also appears that there are no plans to set up a matched bargain facility, so it will be impossible monetise your holding at will.
The plan is to liquidate the holding over a medium term period [18-24 months]. As they do this, they should make returns of capital, which of course will be credited to your account as and when.
In my opinion there is massive value on offer here at the current SP for the patient investor [just look at the PDMR dealings]. I think a 30p total return is a possibility, but I would still be more than happy with double the current SP [9p offer] as I write.
I suspect a lot of people hold these in an ISA and are worried about what happens after delisting so have become forced sellers.
Correct me if i'm wrong but after delisting it would be difficult to monitise your holding. If I was holding I would be selling pretty darn fast. But please DYOR and this is only my uneducated view, which may be wrong
Hi, please can someone in the know explain to a simpleton like myself if I held the share after it delist how will I be able to monetise it in the future? Thank you for your help
Sorry. Of course it had put itself up for sale. Managed to forget that!
Why the above starting to come in. I assume to do with potential delisting but still ‘potential’ atm?
They have circa 9m cash so would not be able to continue to be listed. Alm is around 75% institutionally held so yes they must be onboard. PI’s don’t generally vote in the Agm’s and if you look at the voting pattern, it matches the institutional holdings for votes against remuneration. My take is they back the delist but not the remuneration package directors want. Effectively they do f#ck all as the subsidiaries run themselves.
Companies generally sound out larger holders before any major decisions.
Delisting is not actually bad. Anyone still holding now ain’t selling anyway so what’s the difference. Cash will be returned to shareholders as and when the various subsidiaries are liquidated.
Agree - Crystal Amber will need to something here. Maybe buy more shares and take action.
I would presume they already have the backing of the institutions. Not sure on the numbers for this but guess they would need 75% support to delist.
At the end of the day they have circa $9mill in cash and £6 mill running costs so would not be allowed to stay listed anyway.
Hopefully the remaining $ can be used to support financing for orbital. Give it another year and those that haven’t sold now should be rewarded. GLA
i;m guessing there's a big sell in the background as there's no movement.
I’m surprised this did not drop further!
they will probably end up being traded privately which overall means you'll struggle to get anything decent for them even if you can find another buyer wanting them - i write off any shares which delist in the past though my holdings were minimal
This is shocking - so what price will you get for shares once they delist?
you wont give me any money so im going to delist...
Yet another dud from IC/ST. Subscribing (in the past) to that mag has cost me a lot.
Really disappointing. They have some good assets but absolutely rubbish BOD. Considering reporting them to FRC for this farce!
40% drop ! Absolute dog of a company. Totally mismanaged.
So do we think these are good addition?
This company & share price have taken a real battering under the appalling leadership of Mark & Harry, not to mention the damage done by the scandalous Neil Woodford.
Glad I sold out ages ago, but sadly even with new leadership it could take a couple of years to bed in new culture, and get real meaningful change to help the share price recover. Good luck to anyone still holding here.
That's it. Harry has thrown in the towel and Crystal Amber have got their way - see the RNS.
Placed my vote today via the broker. Went with CA.
I’m on the fence till CA communicate a plan.