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Share certificates will go out to all the registered shareholders on the register at the ex date.
So, if you have shares in a nominee brokerage account like lloyds, Hargreaves, barclays, etc etc, it will be those brokerages that will receive the paper shares. They will then assign the beneficial ownership to each nominee account that has purchased Erris shares.
If you only have an isa account with any of these brokers, you might want to get in contact with them, as they would I believe normally asssign unlisted stock to a regular trading account in your name, but you’d want to make sure of that by talking to them beforehand.
In the admission doc on the Erris website, it also contains the 9 proposals that will be put before the egm for voting on. I’d also suggest contacting your nominee broker if you have your shares with them, to advise them of this, and I’d also peruse the proposals, and decide which way you want to vote on them, and the speak to yo brokerage and go e them your proxy instruction based on your holding against each proposal, so that they can send off your instructions to Erris share registrar on your behalf.
Rgds
L.
Jet thank you!! Thats what I needed to know (smiley face)
Urzz thank you
AU2016 thank you
I will say though that I am not au-fait with all the terms and need it said to me in basic layman's speak...
I have been onto Erris website and looked through the raft of documents, I'm still no wiser... and really need help about how to vote. I can't vote if I dont understand it.
Basically, how does this benefit me? Yes I know its WINIFM but essentially that why we are all invested in shares....
Good posts, all. Basically being paid 'in specie' means 'paid in kind'. No cash/money exchanges hands. We have ERIS shares so we get paid in ERIS shares.
ATB
Any info on how this in-listed investment will be managed?
I believe that it will be un-Isabel, so will we be receiving some form of paper or electronic share certificates? Or will isa holders be required to set up a non-isa investment account for the Erris Gold shares?
Anyone know if they will be tradeable?
Where a dividend is declared in cash, but satisfied by a transfer of assets, it is called ‘dividend in specie’. This type of dividend falls under Article 34 of model articles for private companies limited by shares (see Schedule 1, The Companies (Model Articles) Regulations 2008 (SI 2008/3229)).
A distribution in specie occurs where a company makes a distribution of an identified non-cash asset, such as without first declaring an amount in cash. Distributions in specie fall under section 845 of Companies Act 2006. Most commonly such assets may be property or machinery or the benefit of a debt. A distribution in specie may also occur if an asset is transferred at below market value (for example, as part of an intra-group reorganisation), where the value of the transferred asset is subsidised partly or in full by the transferring company.
https://www.whitefieldtax.co.uk/dividend-vs-distributions-in-specie/
It means that erris resources pay a dividend to existing shareholders; rather than getting cash as normal they get erris gold shares instead.
Looking at the voting form, one of the questions is this....
"To approve the divestment of the shares in Erris Gold resources by dividend in specie."
I'm gathering this means our shares will be gone and we will be paid for them by means of dividend.
can someone please advise if i'm interpreting this correctly?
Heading to 25p.. Lovey jubley
.
Donaldsons played it clever. Waited for spike then buy. Now is the time 10p coming today.
I’ve added more this morning
L
I got a bit spiked on relisting day but decided looks positive and brought my average down by doubling my holding today.
GLA
just kicking in . well done all holders
Heading back towards 25p ipo price imvho. Gla
Hi Kmcd, I suggest you contact them and ask them where the document is. Bring it to their attention. They may be short-staffed because of Covid.
ATB
What is interesting they were in erris for Loch tay gold. Now they add well above 5p placing. Added 600k to their 2m shares in one day. I don't believe they were the only ones adding today.
I think interest will come for Loch tay... Boom time boys and girls
Nothing in my Halifax shares account as of yet?
Donaldsons were major investors in scotzgold. Also building a position in erris. Now they either rate the lithium play or think erris gold will re list. Very very interesting. This will fly in morning.
Who is Donaldson?
So the trades at 7.85p were Donaldsons pre agreed price. Bid rose all day as they were filled. This is entering perfect storm territory. Take your seats quickly imo.
And only 39m shares in issue. Appeals to many?
Yes Donaldsons continue to buy. I predict a decent rise here tomorrow. Gla
Lift off. Moving on every buy. No stock. Dyor.