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Halifax / Lloyds
Who is still waiting for the first payment settlement here? Received notification from Halifax regarding the first instalment payment on 31st JUNE and then nothing since!!
A friend of mine had their first payment from there broker/ Hargreaves Lansdowne on 19th May 2022!!
Is it really taking Halifax Lloyds over 3 Months of holding share holders entitled 1st payments!!
I would suggest everyone who is still waiting for there first payment to contact their provider and ask what is going on! I will be doing the same today. I would also encourage people to change their share provider as Halifax and alloyed service and communication has been the worst of any provider I have ever dealt with, if they don’t get their act together, I will be taking all of my services and banking elsewhere.
All the best Naps shareholders, I look forward to your updates.
I and a work colleague are still waiting for Halifax to get it together. We have been told they are working on it and will contact us in due course. Bla Bla Bla
still waiting; I use CS that use Euroclear to settle. They said that the effective date and payment date were missing on the corporate documents, so bla bla bla here as well.
Still no payment for me from the Halifax.
Thanks for the replies Mark, Fits, Cheapie, still no communication from Lloyds of Halifax, everyone should start getting on to them now for an explanation as to why their payments are being held up!
I'm with iWeb, who are basically Halifax, and haven't received anything still. I've contacted them but haven't received a response as yet.
Also, can someone clear this up - we're all due an initial payment, and then 3 following payments over a period of 12 months, yes? This is separate from the Tokens.
Matt there are two further payments due after the initial payment and independent of the crypto.they are referred to apparently as the escrow and shareholder fund payments and are due to be paid,so i understand,after the 12 month anniversary of the t/o agreement(30th march2022).the actual amounts will be subject to the relevant contingency deductions from the reserved funds. there may be a fourth payment if the napster token cryptos are not launched by the 12month anniversary.if the crypto fund is launched within that time scale no cash payment will be made in lieu.this is my understanding of the position,although i have not been provided with a full analysis by my own provider,HL. i have however received the full initial payment several months ago.
Thanks for clarifying.
I’ve just had a response from iWeb(Halifax), who have stated that they have not yet received a payment from the company.
Not sure what the next step should be for those of us who haven’t received the first payment?
you are welcome matt.it's a tad concerning to hear they have not yet received any payment.if it were me i would immediately ask for full copies of all communications iWeb have received from napster and srs acquiom on the matter, so that you can see exactly what they have asked for.also copies of iWeb's responses.i expect they will try and fob you off with rubbish about confidentiality etc and im by no means certain you are actually entitled to see them,but i cannot immediately see why not.you may get extracts if not the full detail(which is what i got from HL).i sense the platforms are reluctant to provide full details as they are unsure how to proceed (particularly with the crypto aspect).i can understand the uncertainty over the crypto element,but surely the provision of whatever the collection agents(acquiom) need must be relatively straightforward.good luck.
Hi Italian. Sorry about the lack of contact, but i guess Algorand are saving everything until March, so for now there is a lack of excitement also,
Matt87
Have a look at my post of 19 May. (excuse the 4th payment. Should be $25m not $2.5m as i pointed out earlier).
As Italian says there is no apparent reason for the non-payment of the initial $6.06/share,
At the risk of stating the obvious have a look at your account and at least make sure your shares are shown. It should be the new figure after dividing by 750. It will at least prove your entitlement to all the payments
afternoon albert.i do keep checking to see if any news re napster token,but nothing since beginning of july.just have to be patient and keep an eye out for news.hope they don't run it right up to the last minute though.fingers crossed as always.
I have the same problem with Interactive Brokers (IB) .
Nothing from them in my account.
From the communication with IB - nothing !
Anybody else in Interactive Brokers?
what I understand is that all info to pass through the funds is available in the market (and the funds should also be received by IB a while ago (in fact all clearance agents should have received the funds at/around the same date)), but because this is a bit an unusual transaction and moreover, not many investors may hold shares in Napster, in my view IB simply puts it on the backburner and will only pay out once someone within IB make some time to dig into this. I'm not with IB but CS/Six SIS and neither received a penny yet. So keep on chasing them, it obviously takes too much time which is unacceptable.
Thanks , I send I message every week! This is from yesterday :
Dear Mr. Lekov,
Our Corporate Action Department received below response from the depository.
All they can confirm at this point is that the company have contacted them and requested that the share is disabled and removed from CREST. They do not have any further information at this point and will contact us when they do.
Unfortunately, at this moment there no further information regarding this issue.
Regards,
CXXX
Interactive Brokers Client Services
Iklekov,have you tried emailing srsacquiom for their take on exactly what they are waiting for before making payment? i emailed them back in april i think and had a pleasant and moderately helpful reply.i t might produce something you could copy to IB to prompt them into pushing matters. their email is "support@srsacquiom.com"
Hi Italian, lklekov,
I am sure all holders appreciate your reply’s. I still haven’t received a response from Halifax.
Contacting: support@srsacquiom.com
Should be the way to go as they are responsible for facilitating the payments, and should be able to confirm if the balance has been paid to the relevant brokers. This has certainly been the case for HL Months ago!! So what is the hold up with the likes of Interactive Investors and Halifax - if we can get SRS to confirm the balances have been paid to the brokers, then we can all be satisfied that we can press for answers.
I suggest all holders of shares, now all as a community, send SRS and their broker an email as a synchronised joint effort today/this weekend to have an explanation once and for all.
Payments should have been made 5 months ago!!
There has never been a problem with ii, Hybrid. They paid the initial tranche in May, as soon as they were able to.
Iklekov is with someone called IB. Reading his posts, they may not be UK based.
Yes AlbertPode, Interactive Brokers (IB) is not UK based (after Brexit) but this is not a problem - they fully operate on UK market and they work with CREST.
Thanks for confirming Iklekov / Albert.
Some time ago, I notice documentation had been posted to some shareholders with details of the acquisition. Can anyone confirm the content of such documentation?
srsacquiom.com has been very supportive and excellent communication. Will be providing all documentation and dates of transactions shortly as part of legal freedom of information request. This will clarify when settlements have been made to all parties. Which will also outline why initial payments are beeing withheld from shareholders. There clearly is an irregular anomaly with the likes of HL shareholders having been settled there initial payment back in May 2022.
Also SRS also provided the Napster correspondence email address for clarity which I am also in contact with awaiting response.
Also contacted Lloyds / Halifax for s reasoned explanation for undue delay and withholding shareholder initial payments.
What is interesting, is the official shareholding list seems to be missing my credentials, as a substantial shareholder, would it be possible that Lloyds/Halifax are holding shareholders funds/shares in non-segregated or amalgamated accounts (which is ilegal). These were not held as part of a trust or LLC.
As soon as I receive further feedback from all parties I will provide a further update.
HM
Hybrid
Have a look at my post of 19 May. I copied ii's message (almost) verbatim.
I made an error re payment 4 - should be $25m not $2.5m - which I later pointed out.
There has been nothing further from ii. We will probably be waiting on Algorand until March.
A fortuitous side effect of the delays in Halifax getting the funds from Algorand is that in contrast with those paid in May with the pound at $1.26 getting £4.80 a share the current rate of $1.06 yields £5.72, an increase of 20%. That is assuming the Halifax did not receive the cash earlier.
I have just come off a chat with the Halifax who have indicated that they have received the cash and will be paying into the accounts middle of next week. No indication of the currency translation rate at this stage. Also they are preparing a corporate note on how the crypto consideration will be dealt with when it happens. When I asked for timescales they said “soon” which somehow rings a bell with this share…..
glad to hear there has been some progress and particularly interested to see what they say about the crypto.
Hello all - it's been a while since I've posted on here. Just to update you, I've just had notification from Lloyds after raising the payments with them over the weekend... positively they have said:
"I have checked with our corporate events department and they have confirmed that the payment from Napster has arrived and will be hopefully be distributed to customers accounts today or tomorrow."
Here's hoping!
cheers