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Last post: Armani84, 21 Dec 2020 17:45
I emailed the company responsible for the liquidation and they are awaiting final tax clearance which has been delayed due to HMRC having lots of other priorities due to COVID-19. They have been advised that they should hear by end of 2020 and suggested that I should diarise a chase if hadn't heard anything by the end of Jan-21. I hope that helps people ??
I haven't either, getting rather annoying as haven't heard anything from anybody.......
Do we know when the pay out us te MPAY.
Disappeared off HL now.
Started: cminhinnett, 28 Jan 2020 13:18
Last post: CJohnSpain, 11 Feb 2020 09:16
You're absolutely right about that Leo-IX.
The company do give their estimate of 1.5p per share cash returned AFTER taking into account transaction fees and running costs until the company's wound up.
So here's hoping it goes like they say.
For sure. But with only £700k to distribute there's always the risk of delays creating extra costs and eating in to that sum. Hopefully though the days of MPAY disappointing investors are over and they deliver the full amount.
Hi Leo IX,
even with a delay of 3 to 9 months, you get a very decent implied annual return, if you're investing at around 1.14 like this morning.
But it's not in days is it - that's the problem...
. It is estimated that it will take between three to nine months to complete the Liquidation, distribute the cash surplus to Shareholders and dissolve the Company, however it should be noted that this is dependent on receipt of formal tax clearance from HM Revenue & Customs and settlement of all liabilities. The Proposed Liquidators will be obliged to send a progress report to the Registrar of Companies and to all Shareholders, covering each twelve month period from the commencement of the Liquidation, should the Liquidation exceed twelve months
SuhailM3471 "Anyway, minimum 1.50p return which could be imo around 2.25p if get the tax rebate."
The tax rebate, if it happens will go to Mi-Pay ltd, which is being sold, NOT to Mi-Pay Group, ie the PLC.
So the maximum shareholders will receive is around 1.5 p per share.
Started: Headancer, 24 Jan 2020 12:39
Last post: Headancer, 24 Jan 2020 12:39
…..there we go !
Started: cminhinnett, 24 Jan 2020 11:32
Last post: cminhinnett, 24 Jan 2020 11:32
Update re R&D tax credit
Mi-Pay (AIM: MPAY), a leading provider of digital transformation, mobile payment and payment fraud management solutions to Tier 1 Mobile Network Operators, Mobile Virtual Network Operators and digital content providers, announces an update on the receipt of a research and development tax credit by Mi-Pay Limited, the Company's wholly owned operating subsidiary.
On 22 November 2019, the Company announced that it was yet to receive a research and development tax credit of approximately £0.3 million in respect of its 2018 claim and that it had received correspondence from HMRC requesting further information. On 23 January 2020, the Company received further correspondence from HMRC, stating that no further information is required to be provided in respect of the claim and that no amendment is being proposed to the claim.
Whilst the response from HMRC does not constitute formal approval of the claim, it is anticipated that a formal closure notice will be received from HMRC in due course. Subject to the receipt of formal approval by HMRC, after costs associated with the claim, it is anticipated that Mi-Pay Limited would receive approximately £0.26 million from the claim.
It is not expected that any funds will be received ahead of the Company's general meeting on 27 January 2020, to approve the disposal of Mi-Pay Limited ("Disposal") and cancellation of admission of the Company's ordinary shares from trading on AIM ("Cancellation"). Any amounts receivable under the claim will be payable to Mi-Pay Limited and not Mi-Pay Group plc and the receipt of the credit does not affect the consideration receivable by Mi-Pay Group plc in respect of the Disposal, details of which were set out in the Company's circular dated 23 December 2019 (the "Circular").
The directors of the Company do not consider the funds receivable under the claim to materially affect the Company's working capital position. Therefore, notwithstanding this further correspondence from HMRC, it remains the opinion of Seamus Keating and Ed Lascelles, being the directors that are independent for the purposes of the Disposal, that it is in the best interest of shareholders to proceed with the Disposal on the terms contemplated in the Circular and it remains the opinion of the Board that it is in the best interest of shareholders to proceed with the Cancellation. The Board intend to vote in favour of the Disposal and Cancellation resolutions at the general meeting in respect of their direct and indirect shareholdings which, in aggregate, amount to 4,373,736 ordinary shares in the Company, representing 9.56% of the issued share capital of the Company.
Started: Headancer, 20 Jan 2020 15:21
Last post: SuhailM3471, 21 Jan 2020 17:38
That is true, I hadn't thought about that.
Personally I think there is no way that this will not delist. Just a question of whether we get higher bids for the asset.
Not sure how they are I’ll get the 75% needed
Impossible....
Started: Headancer, 15 Jan 2020 13:33
Last post: SuhailM3471, 20 Jan 2020 07:36
Hope so. How confident are we it’s coming? Must be very soon.
Can’t wait to see the market reaction when a bid RNS appears. Reckon it will go ballistic.
I meant 5p a share.....although 10p would be amazing lol
The mms reaction this afternoon tells me they have an inside knowledge what’s coming and tried to spook holders who bought this morning. The drop and then recovery (up 26% to down 20%) shows how volatile this can be. What will happen when news is released of new bids??? It will soar. This company must be worth minimum 10p per share when you do the maths. Holding for the big news to drop. Only 12 days left remember.
There is zero point anyone selling below 1.5p
Started: Headancer, 15 Jan 2020 14:27
Last post: Headancer, 15 Jan 2020 14:27
Cannot buy any now.
I convinced someone knows a bid is coming.
Started: Headancer, 15 Jan 2020 13:44
Last post: baz9707, 15 Jan 2020 14:09
Why follow him around mohh, research your own shares instead of stalking.
This has to be a counter bid at a higher amount....
Started: Headancer, 15 Jan 2020 13:52
Last post: SuhailM3471, 15 Jan 2020 14:03
Boom....
Started: Headancer, 15 Jan 2020 13:45
Last post: Headancer, 15 Jan 2020 13:45
Fever pitch
Last post: baz9707, 15 Jan 2020 13:29
Bids there at 1.5p not much interest in selling.
I do not think the cancellation will happen.
Disposal could be close depending on the vote turnout.
Not sure on the % needed and if it is enough.
Surly the company is worth more to someone, plus listing.
Someone has been it contact with them and agree that bid is on the low side.
I have heard that at least 2 of the major holders will cote against.
Last post: baz9707, 13 Jan 2020 14:13
Offered 1.5p to sell so its not that bad and back on the radars.
What you think now?
P&d yesterday was just to get some of the trapped out.....unfortunately it allowed new people in. 1.5p nothing more nothing less....unless cost base increases.
Takeover will see 4-5p minimum here. It will surprise everyone if it lands before the AGM.
run up to 20th Jan going to be interesting
Started: baz9707, 19 Dec 2019 12:55
Last post: iaintgotaclu, 19 Dec 2019 13:19
capital distribution cannot be done under nominal value if they want to that means they have to change the prospectus massive ball ache
The other thing not mentioned yet is the possibility of another offer coming in. At present, Alphacomm have offered 1.5p per share. What's to stop another company coming along and offering a higher price? As I see it, 1.5p is the minimum valuation here. There are other ways this could play out that would see it realise a greater value than that.
Like in a few other shares, BoD either change mind or find out they cannot push it through.
Genuinely curious. Why are people buying over 1.5p?
So shouldn't be that many profit takers.
Last post: comeonvog, 19 Dec 2019 12:59
Alexios Will they now, so you think suckering PI's into this is fare game. 1.5p that is your lot.
Low shares in issue
Shell crackers will bite the arm to get into this one
Started: iaintgotaclu, 19 Dec 2019 12:27
Last post: Special666, 19 Dec 2019 12:54
Mate, I lost a lot in Debenhams last year.....I ain't getting nothing back from that. These guys are asking shareholders to sign the company into liquidation. Intercompany borrowings paid, well thats their own asses repaid.
It’s being liquidated, the directors and II shares add up to the convenient total of 75.02%.
Your hopefully getting 1.5p. That’s it.
Unless you see significant shareholding’s changing hands to new parties that want to buy a listed shell it’s probably going to be 1.5p returned to shareholder.
10p is bull.
whichever still cannot be done under nominal value which is 10p and needs to be voted i believe
I thought they were going to liquidate MPAY not de-list.
ask your broker its a known fact mate
Started: iaintgotaclu, 5 Dec 2019 09:08
Last post: iaintgotaclu, 5 Dec 2019 09:36
Octopus and Mr Leek added in the last 2 months ago they are also going to know before us is the Mastercard back on the table?
G3E mark 2
This will rapidly rise on small buys. Next food news will rocket
Started: DMcG54, 25 Nov 2019 21:36
Last post: Leo_IX, 27 Nov 2019 21:27
Look no further than last week's RNS advising of a possible fundraising if the R&D tax credit doesn't arrive soon.
Is the drop due to Mastercard rumours falling flat?
Started: mugambokhushhua, 11 Oct 2019 17:20
Last post: mannnan, 25 Nov 2019 21:26
look at the share price now
buyout rumours. NT to buy , premiums paid. DYOR
Started: Whiterhino, 25 Mar 2019 16:28
Last post: Whiterhino, 25 Mar 2019 16:28
Started: Whiterhino, 19 Mar 2019 06:28
Last post: Whiterhino, 19 Mar 2019 06:28
FIS’s Worldpay Deal Ratchets Up Race for Payments Companies M&A
https://www.bloomberg.com/news/articles/2019-03-18/fis-to-buy-worldpay-for-43-billion-as-payment-processing-booms?srnd=deals
Started: Whiterhino, 24 Jan 2019 13:22
Last post: Whiterhino, 24 Jan 2019 13:22
Today's RNS on corporate structure is interesting. Time will tell though if it marks a turnaround in fortunes for long term shareholders. 10p just paid but still on a tiny valuation here with plenty of upside once the new strategy starts to deliver. GLA.
Started: Whiterhino, 18 Dec 2018 07:31
Last post: Whiterhino, 18 Dec 2018 07:31
Good news following s successful trial of tge techbnology. Should open the gates next year to more new business in the fraud sector.
Started: Boomboompod, 12 Sep 2018 09:30
Last post: Whiterhino, 18 Sep 2018 15:20
Is this company still trading?
When are we going to see some action here? It's boringgggggg!
Much not my h
I can't see my h materialising white. It's been too quiet for too long. GLA
That's a decent sized buy (100k) just gone through ahead of the results next week, which I hope will show improvement on last time and prove that the BoD is delivering the goods. I expect further buys this week. GLA.
Started: Ailie123, 14 Jun 2018 11:31
Last post: Ailie123, 14 Jun 2018 11:31
Any relevance in the change of address? Still as exciting here!
When? Nothing happened for months!
Looking for some big upward movement soon :))