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For what it's worth, I've now received my tokens (1,105.99). I've had some email communications with Pete at Napster who was quite helpful with getting things set up. No idea what's happening now though?!
Psy - what does that work out per share you owned if you don’t mind me asking?
Hey, I don't mind. I had 7261 shares (not many compared to most I guess?) I also got some money from SRS but after the wire transfer fee it was only £3.66!
To be honest I'm completely lost in all this! No idea about crypto, just hoping I get some thing back from my initial investment in melody vr.
Psy is that 7261 before the consolidation? So 9.6 shares after? That's the only way I can make the maths math
Hi Pure, yes that sounds about right. Can you help me with the maths then (in terms of the cash and tokens)? What has anyone else got? I don't think the napster tokens have any value yet, but hopefully they will in the future?
The new shares after consolidation were rounded down to the nearest whole number.
So PureG's original number of 129 tokens per share looks to be in the ball park.
Morning all.so what are we saying,129 tokens per NM inc share,i.e. post consolidation? i recall they were going to issue 10 billion tokens.is that correct and is that still what is proposed or has happened? nothing for me as yet on HL
Looks like those of us with brokers will be dealt with last, Italian. It's probably more complicated.
But if you download the Whitepaper (March 2023) from 'Napster.Foundation' there is a pie chart showing the distribution.
We would appear to be the 'Legacy Stakeholders 7%'.
There were 4.6m shares post consolidation. Not sure what that might have eventually have been.
Afternoon albert.thanks for that.i will have a look at the white paper this evening.yes im sure it will be anything but straightforward,but at least things seem to be moving on.
Hi, could someone help provide the contact email of someone at Napster or Algorand or the administrator of the scheme so that I can claim my tokens? Interactive Investor have told me that they are writing off the shareholding I had and have not been in touch about tokens.
I need a contact for someone who can help me claim.
thank you for any assistance
From Napster document
https://docs.publicnow.com/viewDoc?hash_primary=C243C084BBACCC4CD2FA94494D5A4CDBAF567183
"Shareholder wish to receive a stock certificate in respect of their NM Inc Shares, this can be
requested by contacting the Company on the following email address transfers@napster.com
But i don't know if this is a valid email address?
Sea tank,it is just a suggestion but i think you might have to be a bit more proactive with II.if you read pension deficit's post at13.28 on the 9th june, you will see he sets out verbatim the email that holders on HL have had quite recently.i think it is a reasonable approach by them to matters atm and you will see it clearly acknowledges, in effect, that they as a platform have some continuing involvement in matters.i fail to see how II can properly seek,as it sounds like they are trying to do, to absolve themselves from any further responsibility towards you.if you care to advise them of the content of HL's note they may perhaps be more inclined to assist.as the registered holder of your shares they are the first line of communication with NMinc( from whom the consideration payments etc are due) and it seems to me that if they refuse to assist you would have good grounds for a complaint.
Jambor's post 0n 10/5/23 refers to an email he had from pete wylie, the napster CFO. perhaps if he reads this he might be able to provide the email address, which might help.
there may also be a general enquiry email address for the napster foundation,which you might be able to find,as it seems that the foundation is overseeing the arrangements(whatever they may prove to be)regarding the tokens for those investors holding on platforms like HL.
sorry if this is already clear to you,but hope it may help a bit.
I have received a corporate notice from Halifax on the payment of the 2nd/3rd tranches of consideration. This was made into my account on 21 June at a rate of $0.918935 per share and was translated at $1.27 to equate to 71p per new share. Interestingly the escrow funds were set at $5.2m and $0.5m which in total based on 4.6m shares were worth $1.23 per share max so the final payout is around 75% of that. A far better outturn than I expected.
In terms of the $Napster Halifax has reiterated that tokens are not eligible on their platform, though they continue to investigate options. It is noticeable that in the US, EU and UK (debated as recently last week in Commons Committee) that regulation of tokens as securities is actively being sought and once these are in place the UK banks may be allowed to work with them. Given the $Napster are not operable till March 2024 that may play out well.
Halifax did not quote the 129 $Napster tokens per share other correspondents below have mentioned, leaving the matter open.
Very helpful,glenstar.appreciated. i will wait a while to see if i hear from hl,without having to press them.agree that the escrow payment is better than we might nave expected.
Thanks Glennstar. I guess that's something although progress is being made at random.
I'm no further with ii than you are with HL, Italian.
I've been unwilling to 'nag' at them before, as they were on top of everything to begin with.
But I do pay them a monthly fee, which keeps the account open, but not much else.
That said, it's likely they can only do things when they get told. Everything is being done piecemeal even before we get to the tokens
Morning all,
I have received payments into my HL account, one on 9th June and two 22nd of June, two listed as coming from Napster and one listed as coming from NN Inc
I’ve chased II again today, we were amongst the first to receive payment last year but apparently they have nothing to tell us at the moment!
Offler - 3x payments!? What was the amount per share you were given from all 3 ?
Afternoon albert et al.i will have to check my hl accounts at weekend in view of offler's post.perhaps I've missed them as i don't really check the cash section on a regular basis. have to say im not particularly happy with II,as i have an account with them for some non uk shares which i couldn't hold in HL.i think they have become very expensive with the monthly fee and i don't find it a particularly user friendly platform.just my opinion of course. others may feel otherwise.will let board know if I've had further payments tomorrow.
Just to confirm the i have also received payments at 71p per share into my HL accounts.so just the tokens left now.
Great news Italian.
I understand someone who held through Halifax (?) Managed to break the deadlock and has received their tokens directly. I have attempted to follow the same route and will report back if successful
Yeah, well done italian.
Time for me to contact ii on Monday, I think. Once they were at the forefront. Now they are behind everyone else.
Evening albert and PG. yes albert ,i would get on to II asap, as they need to adopt a responsible and professional approach to matters,rather than the dismissive one they seem be currently adopting. very interesting news ,PG.look forward to hearing further if you get any more news.
Good news for users of the ii platform. I received this today:
Cash Distribution
Terms: Approximately USD0.918491 in cash for each share held
Pay date: Upon receipt
Napster Music Inc has announced a Cash Distribution, whereby Holders will be issued with approximately USD0.918491
in cash for each existing share held.
The cash will be issued to entitled shareholders upon receipt from the company.
Your account will be updated upon receipt of the proceeds but in some circumstances there may be delays in the
proceeds being credited to us. Please allow 10 working days for your account to be updated.
Good news for those on II.
Yes - received cash today which is good. Fingers crossed to everyone else
Just for the tokens now