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Come fjet shareholders keep it going keep voting No and don’t sell your shares
I got a message on Hargreaves Lansdown from someone called Louis I think telling me to vote, had no instructions so idk how to vote!
GLA DYOR
this is what i got from HL this morning
What is happening?
The Board of fastjet plc has announced proposals to cancel the Company’s Ordinary Shares from trading on the Alternative Investment Market. It’s expected that the Company’s Shares will be delisted with effect from the close of business on 21 August 2020.
Why is this happening?
The Company has announced “The Directors have conducted a review of the benefits and drawbacks to the Company and its Shareholders in retaining its quotation on AIM and believe that the Cancellation is in the best interests of the Company and its Shareholders as a whole” (Source: Company Circular, 22 July 2020)
What action do I need to take?
For the delisting to become effective, it must be approved at a General Meeting (GM) to be held at 10.00 a.m. on 12 August 2020. Under AIM Rules, such a withdrawal resolution requires the consent of not less than 75% of votes cast by Shareholders voting on that resolution at the meeting.
If you would like to submit a vote for or against the resolution to delist the Shares, please provide us with your voting instruction by noon on Friday 7 August 2020 by Logging in to your account at www.hl.co.uk and selecting your Fund & Share Account. Choose the Corporate Actions Icon on your fastjet plc Rights and follow the steps.
If you wish to sell your holding before the proposed listing cancellation you must do so before 4.30pm on 21 August 2020. The trade will be placed in accordance with our terms and conditions and subject to the standard Stockbrokers commission rates. To sell these Shares please phone us on 0117 980 9800. Please note that if the cash consideration of a sale does not exceed the commission payable then the sale will not be executed. Please note that although Hargreaves Lansdown will endeavor to sell your Shares it may not be possible to sell all, or even any, of your Shares if a market for the Shares no longer exists.
If you wish to maintain your holding you need take no action. You should note that following the cancellation you may have difficulty selling this investment at a reasonable price and, in some circumstances, it may be impossible to sell it at any price.
Other information and warnings
Should you have any queries relating to the Delisting please contact our Investment Helpdesk on 0117 900 9000. Please note, we can provide factual assistance but cannot provide advice about which option you should choose. We hope you are satisfied with our service. If you would like to set up new products, or transfer other assets you hold to Hargreaves Lansdown please go to www.hl.co.uk or call our Investment Helpdesk on 0117 900 9000.
Yours sincerely
Louis Carter
Louis Carter
Corporate Actions
I had a similar Corporate Action notification on Halifax Share site which I use. The current value of the shares means its absolutely a waste of time selling them as I would be lucky if I got £20 after broker fees.
My question is am I right in saying that if I just hold onto the shares whilst fairly worthless, in the unlikely event they should ever gain sort of any value, I could still sell them through my broker but they would have to auction them on Asset Match? Also given the proposed new shares of £0.0001 per ordinary share which I guess our shares will be converted to, am I right in saying the new holding will be 1/100th of the current holding?
If anyone could help answer I would be thankful.
Vote No and keep your shares
Vote No and don’t sell your shares
Aim should be made illegal. Got to be something wrong pumping a share up to .76 then dropping it like a hot potato to nothing. Never ever again will I buy AIM shares.