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IG said something similar…..
With regards to your query, we see the the stock is undergoing liquidation. There has been no further updates received from the market as the liquidation is still ongoing and there has been no confirmed key dates of the event, also our custodian confirmed the same.
Once the paydate is confirmed, proceeds would be allocated to your account accordingly.
Please let us know if you still have any further queries.
Regards
Corporate Actions
IG
17th Jan
Thank you for your message.
There is currently no update regarding Conduity Capital plc. Please be assured if we receive a payment for any liquidation proceeds we will credit your account without delay and send you confirmation of this.
I hope this has been of assistance. Should you have any further queries, please do not hesitate to get back in touch.
Kind regards,
Corporate Actions
Hargreaves Lansdown
Any latest on getting cash back yet?
Advisory 1:
Conduity Capital plc – Voluntary Liquidation
Your holding of xxxxx shares within your Fund & Share Account
What is happening?
The board of Conduity Capital plc has announced details of a proposal to liquidate the company and return cash to shareholders. The company will appoint a liquidator subject to shareholder approval at an extraordinary general meeting (EGM) on 29 September 2023.
How much will I receive from the liquidation and when will this be paid?
The company is expected to have sufficient cash resources to make distributions. The date for these has not yet been announced. We will contact you again once we have received confirmation.
Yours sincerely
Corporate Actions
Advisory 2:
Thank you for your enquiry.
I hope this message finds you well.
We can confirm that the liquidation resolutions have indeed been passed, and the company is now in the process of liquidation. However, it's worth noting that the company is in the early stages of this process.
As the liquidation proceeds and we gain more information about the timeline and distribution of assets, we will keep you informed. Rest assured that we are closely monitoring the situation to ensure your interests are properly represented.
If you have any specific questions or concerns about this process, please don't hesitate to reach out to us. We are here to provide you with the support and guidance you need during this transition.
Kind Regards
Corporate Actions
Hargreaves Lansdown
Please note the information contained in this email should in no way be construed as personal advice. If you are unsure about the suitability of a product or investment for your circumstances or do not know how best to proceed you should seek professional advice.
I tried to email greg.collier@earlyequity.co.uk but it states undeliverable.
Does anyone know if we will be getting anything back. Can’t seem to find anything out
Still nothing…
Any news anyone
Has an rns been released?
My thoughts also macmac, let's hope everyone else thinks the same......
I've voted against giving the Directors another 12 months nice salary to find another vehicle. Lets wind this joke up and get some cash back
From the advfn website....
I’m in touch with a group of shareholders who have a Telegram account and purportedly represent over 50% of our shareholder base. Their sentiment is to have a general meeting to approve a solvent liquidation of the company and the Smarttech shares + any residual cash to be distributed to the shareholders.
Apologies that this is dragging on but the delay is out of my hands as we’ve been finalising a large VAT reclaim that was finally submitted last month. I have not wanted to complicate this (with initiation of liquidation) as I am advised that we are eligible for the money and it is significant. We have had further questions from HMRC into the claim before it is paid and our accountants who have got a full reconciliation of each entry (and this has been where the time has gone) have already replied.
We have initiated the drafting of the circular and it will be published as soon as possible because we believe the consensus of shareholders is to pursue this route (liquidation and distribution).
Noted that the SM247 price has fortunately moved in our favour and I am hoping that further positive news flow will keep this strong with good liquidity. The rationale of Smarttech was to deliver growth and on that basis CCAP shareholders ending up as SM247 shareholders was always the intent (albeit the original terms for the RTO were on more beneficial terms but unfortunately that was taken out of our hands).
We hope to get the circular out before the end of this month/early next month.
Best Regards,
Greg Collier
WTF is going on with this? It has been a long time now and starting to feel as though I've been robbed and should call the police!
I wouldn’t hold your breath. Would be very surprised to see this return in any meaningful sense. And certainly not anytime soon, when directors have other going concerns to worry about. Always the danger with Shells.
When can we expect an update here?
Thats a betrayal and very poor
Nick Lee has left the company and apparently joining Smartech . If this happens, it will look VERY ugly. I wonder if he picked up a wage with us while the deal fell through?
I think CCAP still have cash in bank but the cash paid out to enable a reverse takeover will be paid in shares.
Die-diligence work and negotiations
So does that mean just the costs end up in shares & the company still retains the cash balance or the whole lot is in smart tech shares ?
All of the money CCAP spend on the failed reverse takeover will be paid back to CCAP in Smarttec shares.
Meaning CCAP will become and shareholder, we will then see more value in market return.
All that said we need a reverse takeover for CCAP to hit the market again and enable us to trade out CCAP shares; if they trade as CCAP…
Who knows...i was told they were Wiss kids...well i am not sure about that...
So does that make Conduity an Investment company and will relist?
Smarttech247 eyes GBP37 million IPO after rebuffing Conduity Capital
(Alliance News) - Smarttech247 Group PLC said on Thursday that it intends to list on London's junior AIM market, in "a new and exciting chapter" for the cybersecurity services provider backed by Pires Investments PLC and RiverFort Global Opportunities PLC.
Pires and RiverFort noted the announcement, as did Conduity Capital PLC, which had previously planned to acquire Smarttech247.
The Cork, Republic of Ireland-based artificial intelligence-enhanced cybersecurity services provider Smarttech247 said it expects to list on the London Stock Exchange's AIM market on December 15.
"We are excited to announce our intention to float on AIM, which represents a new and exciting chapter for the company," Smarttech247 Chief Executive Officer Raluca Saceanu said.
"Smarttech247 has demonstrated the effectiveness of its products with its wide range of existing clients and is embarking upon a campaign to win new mandates across Europe and the USA. The AIM quotation will provide us with the chance to raise the company's profile, fund the development of our proprietary technology and expansion into new products and geographies. We are well positioned to grow and benefit from a number of industry trends."
Smarttech said it plans to raise GBP3.7 million at GBP0.2966 per share. It expects a market capitalisation of GBP36.8 million on admission.
RiverFort Global and Pires Investments both said they were pleased Smarttech247 formally announced its intention to list, having both invested in May 2021.
Conduity Capital said it would be reimbursed for all costs incurred over its proposed, and failed, reverse takeover of Smarttech247, which will then be used to subscribe for new shares in the initial public offering.
Back in August last year, Conduity announced plans to buy Smarttech247 for GBP33.5 million through the issue of new Conduity shares.
In September, however, Conduity said that Smarttech247 decided it will seek a quotation by way of a direct IPO rather than by a reverse takeover.
I guess today Budget....or what ever you call it will help this now..must be some companys looking for a listing
Not as bad as it could have been imo not all is potentially lost, could be another potential acquisition down the road in time.
Sadly it is yet more time.