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You end up with the same value ,no more no less.
Not sure what this 3p value represents really. But you would have to have bought before today and hold them until at least end of play tomorrow to qualify for the return of capital @98p
If the company is being wound up, why is there any value in the shares as it stands? Surely everyone would be selling their residual shares, or do we need to keep holding in order to receive the special dividend?
and good riddance to Greenko - the green turned to brown for me I have to say
No problem. They do hide the info right at the bottom sometimes. In smaller type.
Ah yes cheers mattyblack, much appreciated. I missed that, so would have needed to buy them yesterday to qualify.
....and therefore wouldn't attract the 98p dividend.
"Shares marked 'ex' by the London Stock Exchange 8.00 a.m. on 5 January 2016". This is right at the bottom of the release from the 25th November. Any shares you buy now are ex dividend, all you would be buying is shares in a company that is being wound up.
I don't understand it either. I would've expected this after 1pm on 6th but not today? If it looks too good to be true, it probably is!
Matty if he is entitled to 98p for his purchase today then why price has dropped to 3/4 p?
James I've also got the same question as you do. As per published RNS effective timetable for entitlement to 98 p settlement is 1 pm on 6 January. Don't know why the price has dropped to 3/4 p. Someone kindly help.
James, you will receive at least 98p per share anyway. That was the initial cash offer. If you still have the same amount of shares right now (albeit only worth thruppence each), that means that you went for Option 1, in which you receive the cash as a dividend, along with an equivalent holding of the new shares.
Hi sorry for the newbie/stupid question but if I buy in now at 4p does that mean I'd get back 98p per share? Or am I completely missed reading it? Any help would be greatly appreciated
Gsk
for a modest profit.. held for just over 2 years... and selling now just seemed the less complicated thing to do.. Good luck everyone out there who are holding on til the 8th .. no doubt you'll get your 98p per share plus a surprise handout a little later.. but I need the money now to start the New Year with a new "Punt" .. hopefully more successful than this one !! anyone got any good tips !!!
Sorry for being naive..but am I right that shareholders will get 98p per share and still have a share worth 98p, or just 98p cash and the shares disappear?
Yes, I understand the 98p return of capital bit, but the Record Date is 6 Jan and delisting (of the company) is 18 Jan. So what happens between 6th and 18th? The RNS suggests trading will continue? I think there will be many people disappointed with this outcome after showing such promise so you're not alone.
I feel for you Paul, I - like you bought in early 2014 and on the same promise of a great future for the company.. fortunately for me though I was "stupid enough" to keep buying on the way down.. all the way to 70p.. and so 98p to me reflects a modest profit.. on what was a close call.. the same cannot be said about another disaster share I had "GLOBO" .. so yes AIM is not the safest "playground" .. Happy Xmas to one and all.
What will happen is simple - you will get 98p for every share you hold and that's it. The shares are being delisted which means they no longer exist. If that means a net gain to you then you must choose whichever method attracts the lower tax rate, dividend tax or capital gains tax. If that means a net loss then you choose return of capital, otherwise you will end up being taxed on your losses! In my case 98p represents a 40% loss as I bought in 2014 on the advice of know-nothing brokers. At least I will never again have to look at the awful name of Greenko at the top of the losses table in my portfolio and it will help me to stick with me New Year resolution to never ever again buy an AIM stock for the remainder of my natural.
I've read the document from the greenko website posted on 25 November detailing the arrangements for the initial cash return. This is the first time I've been in this situation so am a little unsure about what happens to my ordinary shares. The return will be made by the issue of B shares (either as dividend or capital return) on 7th January. What are other people planning to do with their ordinary shares? Do we still hold them? I assumed yes as they are not being bought by the company. The company delists from AIM on 18th January so what happens to the ordinary shares after this date? The note suggest they will still exist but no price will be publicly quoted, making buying / selling quite difficult. Given the Record Date to participate in the cash return is 6 Jan, would you expect a mass sell of ordinary shares on 7th?
Since the return to shareholders is greater than the market cap, does it means Greenko will cease to exist? Have they totally sold out to GIC?
return of 93p to shareholders......any ideas how this affects the share price? or the opening price on Monday?
Very pleasing RNS. . .