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I've never been in a share until it has been bought. What is the procedure if I don't sell my shares before they are suspended from trading? Would I get paid out at £19.21 from the account where i hold my shares like a normal sale, but have to wait a few days? All answers appreciated. Ta.
Same here but I expect the full cash at 19.21 per share will be in my HL account on 16 Jan
You'll have to wait c14days for cash as previously stated in RNS.
Ah, I see. Thanks for the heads up!
I was going to hold until the end to get the 19.21 but got a bit nervous today given the news stories and I don't trust the people involved tbh...closed out my holding in a couple of trades at 19.165 and 19.18. "happy" with that and will find a better alternative for the cash.
Good luck to all!
I hold via IG Index. Would I still get charged the commission if I just let the shares lapse naturally? If yes, I am just gonna sell out. I don't see the legal action as being very material.
Still annoyed about the low takeover price... what a waste of time.
No you won't be charged , the cash will just appear in your account.
Suspended - why?
Taverham. I expect the next RNS will be telling shareholders that the transfer of the shares has been completed and GEO now own the entire company and assets. AMER no longer exists. Transfer of monies for those shares will probably be made in the next couple of weeks.
From the RNS 14th Jan
The boards of Amerisur and GeoPark are pleased to announce that the Court has today sanctioned the scheme of arrangement under Part 26 of the Companies Act 2006 (the "Scheme") by which the recommended cash acquisition pursuant to which GeoPark Colombia, a wholly owned subsidiary of GeoPark, will acquire the entire issued and to be issued ordinary share capital of Amerisur (the "Transaction") is being implemented. The Scheme will become Effective on the Effective Date, which is stated in the Court Order as 16 January 2020 and is when the Court Order is expected to be delivered to the Registrar of Companies. A further announcement will be made when the Scheme becomes Effective.
The Scheme Record Time for the Scheme will be 6.00 p.m. on 15 January 2020 and all Scheme Shares in issue at that time will be subject to the Scheme.
Next steps
It is expected that dealings in Amerisur Shares on AIM will be suspended with effect from 7.30 a.m. on 16 January 2020 and, subject to the Scheme becoming effective later that day, the admission to trading of Amerisur Shares on AIM will be cancelled with effect from 7.00 a.m. on 17 January 2020. It is also expected that the consideration payable to Scheme Shareholders will be paid by GeoPark Colombia within 14 days of the Scheme becoming Effective.
leas, thanks and appreciated.
Well RIP AMER. Company now in the hands of GEO. 19.21p per share payable in 2 weeks. Warden and Clarke have resigned.
Wouldn’t surprise me if some advisory role vacancies will surface within a year. No doubt that formed part of the takeover deal.
The ‘gravy train’ rolls on. Good luck to all LTHs and their future investments.
Wardle and Clarke...