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Didn’t realise this board is live and kicking…
Can anyone put a value on this ofer ? Not that we have a choice. The crook managed to take us all to the cleaners.
Algo is worth around 37 cents per coin, was 74 cents a month ago but crypto has taken a real tanking recently, I did say a while ago that it’s forecast to hit $30 by 2030, regardless hopefully cryptos will recover value by the time we get them.
Just to repeat whatever you do don’t lose both your code and your seed.
I’ve got two listings Napster and NN!,
Crypto.... you will need to download a crypto wallet to store your crypto, you will receive a series of numbers that’s a crypto code and a random series of words that’s a crypto recovery code known as a seed ( not a clue why) you can access your wallet using the code, if you lose the code you can recovery it by inputting the seed. If you lose both you lose your crypto.
To receive the crypto you provide whoever it is with your wallet address. To dispose of your crypto simply go onto a crypto online exchange and sell them not dissimilar to selling shares. Put in the type amount buy or sell
Just received the email from ii.
About to try and take it all in.
Maybe come back tomorrow.
Many thanks Italian.
I was awaiting to hear from ii, but expect them to say something similar in due course.
So we get some of our money back with the promise (?!?) of more to come later. Let's hope crypto is more flavour of the month by March 2023. Like you, I will need an induction course in it.
Exciting life being part of Napster, isn't it?
I don't know about you but I have been well and truly buggered by Matchett the crook, spive and liar. I personally would like to put out a contract on him as a matter of principle
of tangential interest perhapshttps://decrypt.co/100704/universal-music-group-nfts-limewire-algorand-marketplace
thats my thinking also NT.definitely better than having sold on aim. need to give it a bit more thought ,but if there are any viable alternatives to the algo cash element,i would want HL to leave them open until i have had a chance to consider them. there may be no alternative to the cash payment of course and im sure if there is any decision to be made by the individual shareholders HL would tell us before doing anything.i will probably just make this wish clear to them in the next day or two.i know nothing about cryptos and doubt i could take them in that form even if available,but depending on the terms being offered it is just possible that the bulk of the consideration might in practice reside in the crypto element.just musing aloud in the absence of more detail.
Thanks for posting this The.Italian. I've received diddley squat from my brokers about Napster. That actually doesn't sound too bad - about double what the shares were worth at AIM delisting by my reckoning, plus a Brucie bonus of some unspecified amount of crypto or unspecified cash alternative, all to maybe be paid across multiple unspecified future dates. Maybe the decision to cling on to these to try and claw back some of my almighty losses might just possibly be almost worth it after all, perhaps, in the end.
Napster Group plc – Update on NM Inc
We wrote to you in December 2021 about Napster Group plc selling its main business to a new US based company called NM Inc (Napster Music Inc). As a result, you were due 1 NM Inc share for every 1 Napster Group plc share held at the close of business on 27 January 2022.
You continue to hold your original Napster Group shares, but the shares have been delisted from the AIM and the company has negligible assets.
NM Inc has since been subject to a successful takeover bid by Algorand Holdco I Inc.
Algorand Holdco I Inc is purchasing your NM Inc shares for a mixture of cash and cryptocurrency. Holders will receive:
USD6.07 per NM Inc share, and
A crypto currency payment. This payment will not be made until the relevant cryptocurrency launches. If the cryptocurrency has not launched by 31 March 2023 then a cash payment will be made in its place.*
*HL is not able to facilitate the payment of cryptocurrency. We are in talks with NM Inc about the alternative options available to our clients.
We’re still awaiting payment of the USD6.07 cash element - we’re sorry this is taking longer than anticipated. We’re working with SRS Acquiom, the agent facilitating the payment, to ensure it is concluded as quickly as possible. We’ll write to you again when we have a meaningful update on our progress.
Once received, the payment will be converted into sterling before being credited to your HL account. The conversion will be based on the exchange rate at the time and our standard currency conversion fees.
We apologise for the delay and appreciate your patience with this matter. If you have any questions please contact us.
Yours sincerely
Ellie Nethercott
Ellie Nethercott
Corporate Actions
here is the full response from HL just received.need a bit of time to digest
Hi Offler
Yeah, I'm fine thanks. Just hoping Napster do anything to change that !
A number of music medias together with Morningstar have reported this as a buy out - nothing ambiguous. So unless we hear otherwise, we have to take it at face value.
It seems Hive and Algo dipped their toe in the water with Limewire and Napster is (relatively speaking) the big signing.
What is encouraging is that they, together with the rest of the consortium, are keen on the Napster/Melody tech.
The app would have been completed months ago. Maybe even in Q4. And all this was in the planning even before last December. IMO.
Hello all. I suspect that I am not alone in being stuck with worthless Napster shares and endlessly wondering what is going on... Well I have today spotted that my holding with AJ Bell is now duplicated with a new line called "Napster Inc provisional shares" stating my same number of units holding as before.
It is my conclusion that Napster has not been sold hook, line and sinker, but the sharebase diluted again to give majority holding to HiveMind/Algorand/Whoever. It is my conclusion we still own our shares and whenever the U.S. Napster Inc. flotation occurs our shares should convert 1 for 1 and be tradable again (in dollars).
The big question now is when does Napster Inc. float and at what price?!
NT
That’s good to hear nothing better than children of family and friends doing well in life, will await your response from H L will interest.
In the meantime Albert missing the banter with you, hope you are keeping well?
agreed offler.the consideration is key.bizarrely i still haven't heard from HL as to whether they have had any response from sslraquiom, although it is 3 weeks now since they said they were contacting them.glad your nephew has found a route to follow his career. i used to know a number pf people whose children pursued tennis careers through the US college system and they all spoke very highly of it (pretty tough regime though i believe and probably the same for football i expect).will probably email HL tomorrow to see what is happening.
Lol nice one Mr Italian, my nephew is currently in America on a soccer scholarship having failed multiple trials with English clubs, from what I’ve heard from his dad there is little an American bank will do without charging a fee. Doesn’t make it right, but that’s the way it is and of course depends on the consideration. What will you get back for paying that fee. Somewhat different from the email from your distant relative.
well i do agree with that!
Lol. If someone owes you something then you should not have to pay to get it.
did they work for the SFO?
Just had an email today, a distant relative has left me £10,000 they want £50 bank transfer fee.
hello harry.glad some of it helped.does the documentation give any intelligible indication of what the consideration for the shares actually is? can't believe they have the temerity to ask for a transfer fee.thanks for the update.
Hey Italian, thanks for the comprehensive response. Some of which I knew and some of which was new! The letter I received was so vague it almost read that I was going to have to pay SRS (for the privilege of shares worth sweet FA!). Having taken the applicatio part way through SRS, the catch is that you have to pay $50 for a bank transfer!
still worth asking the question ,Offler,thanks.
Right again Italian, good job I didn’t hold my breath, nothing on the UK Gov site about a SFO investigation or referral
sorry would have to remove you if I gave you more information. But I did hear something from another horse "nay"
Just as night follows day, I see we have arrived at the inevitable ‘Alert the authorities! Can I sue someone because I lost all but a fraction of my money?’ phase of AIM dog investing. Many such cases.