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Had a reply from opus.
Documentation should be posted to nominee provider who should update shareholder accordingly. Shareholder then has to instruct them to act on their behalf should you wish to sum it a vote or attend the GM.
Hope this helps.
Hi there.
Still trying to find out myself as shares in a nominee account.
Should appear on account.
If not maybe need to contact liquidators.
Steve where can i find out how to vote etc?
thanks in advance
atb
...I guess those two major shareholders may just be waiting for it to go into administration so they can offer to buy the non cash assets on the cheap... I'll take your post as a preference to vote for the administration but will check in occasionally to gauge any other views expressed.
Hope your investments have/are/will be better elsewhere .... Let's face it if not better than this we probably shouldn't be investing..... wish I'd never heard of Mannas Coal as that's pretty much where the real rot set in here IMO ... Hey ho no more coal LoL
A members voluvoluntary liquidation is because a company’s assets are more than its liabilities including the investment.
The liquidators will if approved wind up the company and any cash and our investment will be held in escrow until such a date the investment can be monetised and distributed to shareholders. I’m very surprised the two major shareholders who own almost a billion shares a third of the company weren’t interested in getting the company going again with the losses alone worth a million in tax savings.
We live in hope. If shareholders vote against it probably just be a liquidation where shareholders get nothing as the investment would probably just get written off.
I won’t bother starting a group.
Probably wouldn’t be much to talk about regarding the company.
It just needs a last minute offer from a wealthy investor to buy the company and then rto into another one.
We are not insolvent as our asset is theoretically worth more than our liabilities.
The problem is valuing our investment and ultimately selling them for distribution to shareholders.
I have calculated that for every £100,000 surplus available to be returned to shareholders we get approximately £30 for every million shares held.
Of course if the directors cannot sell the investment or just can’t be bothered then we will get nothing. Considering we have been suspended here more than six years it does make you wonder if they have really bothered about shareholders at all.
Let’s hope for something back.
....that's fine Steve .... but I should let you know in advance I'm not one for joining groups for things I do have a position on let alone here.... but if you get one going just let me know what the consensus is (if one is reached!!) I'll vote accordingly .... I have until the 29th to cast/change my voting preferences.
...apols it was yourself that suggested the possible ~£30 per million shares held .... but I still don't know how likely that is .... in my (possibly limited) past experiences liquidated companies have never returned a penny to shareholders ...
Thanks for that.
I have contacted the liquidators to see if they can e mail me a copy.
Got £10k here 20 million shares.
The last straw was when they took their website offline.
I contacted nxt last year and got some very useful information.
I may start up a what’s app discussion group.
Imo our board could have tried a bit harder even trying to sell the company with millions in losses. An rto could and should have been done.
Let’s hope we get something back.
It's a vote at the AGM to pass (or not) resolutions on the winding up of the company, appointing administrators, their fees, payment of unsecured creditors etc ..... to be honest I'm past caring much for myself on this share as I wrote it off many moons ago. .... Denny has posted we might get back £30 per 1M shares held but how much credence/certainty there is of that has I don't know ...... as I'm so apathetic in regards to this share now I'm happy to vote for or against resolutions along with the majority view/opinion of other holders here, if any can be bothered to state them LoL
Good to hear you on here again.
I have had nothing on my sipp accounts.
I will contact if nothing heard soon.
I’m sure we are supposed to have 21 days notice.
Although with this bunch I’m not sure about anything anymore.
Absolutely clueless board.
Excuse after excuse.
I’m sure they could have done an rto million in losses that could have been used wasted.
Maybe we would have been better spending more to buy the nxt shares from the company.
If it is possible could someone post a copy of what shareholders have to vote on as I am completely in the dark about it all at the moment.
ATB
Steve
We still have the just under a million shares in nxt tec.
These should be held until such a time they can be sold.
They seem to be plodding along.
They just need to have an ipo.
...got my invitation to vote today, what's the thoughts from other shareholders on which way to vote as I'm happy to go with the flow .... been an absolute dogs dinner for 10 years or more & lost here anyway ... happy to walk away with a pittance (if anything) or nothing which is what I've had for the last few years anyways.
Hail to Steve58 if you're still about ...
Paperwork received from Opus Restructuring & Insolvency today so looks like this will go ahead and company be wound up one 30th September. I put a big chunk (over £20k for just over one million shares) of a severance package from work in 2012 into this stinking pile of dogs***t and now here we are 10 years later about to realise no return in all likelihood.
Steve58 not heard from you in a few months. What’s your opinion on how things stand?
I've worked it out at about £30 return for every million shares for every £100k received.
We just have to wait and see..
cheers Steve
i only have 4 mill share but will be happy with anything back as at the moment we have nothing anyway
As far as I see it a members voluntary liquidation will happen.
Any debts get settled and the nxt tec shares will be held by the liquidators until such a time they can be monetised. Any monies received are then distributed to shareholders in relation to the number of shares they have.
I have 20 million shares so am hoping to get something back.
have held leed shares since 2012, but have not done anything with them, could you tell me what I should do to change them over to Nex group I am a bit of a novice a share dealing and would appreciate your help david
Along with the dodgy directors including Peter Redmond who allegedly managed to spend a million quid on a coal pit called manas
The older I get the more I tend to look at these company’s and realise these directors are bent and corrupt and moving between companies in aim
Charles Zorab another name that crops up, wasn’t he in acp as ceo
Seems to have disappeared.
Just like everything else with this company.
Good morning to you.
I had a reply from the board last week.
MVA still going ahead albeit slowly.
Nxt tec projects still look good to me.
I keep emailing the company but no reply.
About as reliable as their investment strategy.
Has anybody heard anything from them ?.
I know it’s been many years but still grates seeing my wedge evaporate.
cheers Steve
Got a reply from my e mail.
Members voluntary liquidation still going ahead.
Albeit slowly.
Not sure if he will like my reply.
He could see that myself and probably many other shareholders are far from impressed with their performance.