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I see that .
I have also noticed the derampers have stopped over last 24hrs. Which sort of gives away why they have been doing what they've been doing, now that news is imminent. Effectively, the job is done - for now.
I can remember working for a company where the management were R/TO another larger company. They thought the deal was done, then someone from legal got involved, and almost scuppered the deal at 1pm in the afternoon. This larger company used to mergers and acquisitions too!!!
The language from my directors at the time, the air turned blue.
The deal was done by 4pm. After someone dealt with the bloke from legal.
But the legal aspects will be privileged at this stage, so not suitable for public domain. I agree update re further delays, but they don’t need to tell us why necessarily
If it is the legals causing the delay its a shame they couldn't have said so in that useless RNS on the 1st March. That way I wouldn't be exercising my overactive imagination.
Still communication with shareholders has never been their strong point.
Bang on The.IT.
And our points are very similar.
sorry keith you've said it all whilst i was typing.lol.
my take is that they registered napster group ltd on the 26th jan to protect the "napster group"name from anyone else registering it before the napster group plc name could be registered. to register the napster group plc name they have had to change the ltd name to music company ,which will now allow then to register the new group plc name.i expect they have lodged both applications at the same time(yesterday) so expect formal announcement later today.i expect they will keep the Napster Music Company ltd as a subsidiary.
"possible changing the name so they can change Melodyvr group to Napster group, my thoughts"
Exactly that. Melody VR becomes Napster Group, and the Napster Music Company and Melody Vr Ltd are the 'sub' companies.
Do you remember the chancer last year registered Melody VR Group Ltd, and is now Smiths Medical (the guy in question has over 30 companies registered to a residential house address, and none have completed a return). I think AM and his team are all too aware of fly's in the ointment. Whether from this board or Twitter etc.
There is always the legal aspect, and who owns the names, and these things always come out at the end where all parties think ducks are in a row. Often, it's always the point of most financial leverage.
BadBat
I might be getting it wrong, but is there a 'double' name change in effect, to Napster Music Company Ltd?
It has a great 'traditional' sound, I think.
Bit like:-
Decca Record Company Limited
EMI - The Gramophone Company Ltd
exactly bb.
A reminder of the pre-completion RNS:
Details of the Merger Agreement
The Company will advance an initial $6.0m deposit which will be placed into escrow, followed by an additional $6.0m deposit which is expected to be advanced shortly thereafter and upon satisfaction of certain post-signing conditions. Ahead of completion, Napster may request funds to be released from the deposit in order to pay certain identified rights holder obligations. Any such requests must be approved by the Company. In the event that the Merger fails to complete due to Napster being unable to meet the closing conditions of the Merger, the deposit will be refunded to the Company and Napster must repay any advances to the Company within six months of completion. In the event that the Company fails to fulfil certain closing obligations under the Merger agreement, the Deposit may be forfeited. At completion of the Merger, the deposit will be released to certain of Napster's debt-holders and shareholders, and a further USD$3.0m will be deposited by the Company into an escrow account. This amount will be used to secure certain indemnity obligations of Napster's shareholders and unless used pursuant to those indemnity obligations, will be released to the former Napster shareholders 18 months after closing. As further consideration for the Merger, the Company will issue approximately 200 million ordinary shares of the Company to Napster's debt-holders and shareholders at completion, such amount shall be adjusted for any decline in the Company's share price prior to completion.
The above is not straightforward and even though we completed the Purchase, a name change is likely to mean lots of paperwork with the different interested parties involved. Not making excuses, as we should be told what’s happening (and I’m as frustrated as all in this respect) but the legals are the most likely reason and nothing sinister.
Mel. Have they not changed it so that they can now change Melodyvr Group to Napster Group?
NAPSTER MUSIC COMPANY LIMITED Sounds good to me!!
Just out of curiosity, has anyone here filed anything for a company during the pandemic and if there has been a delay in the processing? Not defending but just wondering if this could be a simple case of backlog in the actual system.
From my personal experience it took 3 days for a name change resolution to go through and be done with for a limited company name change I did online on Companies House, but that was in 2019 before all of this happened. Though, I know of a simple company strike-off proposal that has been being processed for 6 months now to date and maybe there just are some delays in things happening?
good bb.so they have changed the name for napster group ltd.expect the change for the plc version to follow.
possible changing the name so they can change Melodyvr group to Napster group, my thoughts
https://find-and-update.company-information.service.gov.uk/company/13159728/filing-history
Sjd1. It is strange, could be the person who does the paperwork has covid, or they totally messed up. may be
Jack Dorsey still buying more companies. Personally I don't think the delay in the name change is going to affect anything in the short term. Even with the ticker NAPS the SP will still have its daily ups and downs. Seems to me that they SP is where the company wants it to be for whatever reason; maybe they don't want JG to take his options, probably talking rubbish as usual.
just bought 100,000,000
Hi PudPud,
What price did you get? GLA
Thanks, just sold 10,000,000 shares
This company going to the moon they say .
Only moon I’m seeing is AM caught with pants round ankles yet again.
Tut tut can’t do the basics
They've been through it before, they should know themselves how long these things take.
Yes but again they stated in anRNS name changed 1st March 8am