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Started: dilbert_dog, 17 Apr 2024 08:58
Last post: AlbertPode, 10 Jun 2024 08:54
The name was changed from Naps PLC to Naps Inc. This is how they show on your ii account.
You can't take a loss on the shares until/unless you sell which right now is virtually impossible to do.
Where they are going with this goodness knows. So-called partnerships with Mint Songs and Terra Zero have disappeared into the ether. IMO our best bet lies with the core business, streaming music and either a buy out by someone or a NASDAQ listing , which was their possible intention at de-listing.
Out of interest, has anyone put these shares to loss? my accountant said i couldn't due to some technicality with the Name change to NAPS. be interested to hear others opinions as i had quite a good amount in here and was hoping for some tax relief?
Jambor I have received neither cash nor tokens for tranche 4. And received little by way of intelligence on their likely emergence. We are well into quarter 2 when allegedly trading was due to start on the tokens. It would be interesting to hear if others on this chat have had some feedback from Napster.
Good morning Glenn
So you received tokens or the money instead of tokens? Interactive investor say they still know nothing!!!!
Seem to have received a tranche 5 this morning based on a corporate message from Halifax. $0.055913 per new share which has translated around £1 = $1.28 to 4.36p per share. Notice also refers to the tokens but claims to still know nothing.
Started: AlbertPode, 28 Mar 2024 15:09
Last post: snapuae, 1 May 2024 08:14
I just noticed that HL have credited my account on 17th April with just over £100 for "RTC CR Return of Capital" relating to NM Inc (Now taken over) . Plus a few pence for FRC CR Net Fraction relating to Napster Group plc Ord 750p
Unsure what this relates to!
A classic fob-off if ever there was. They may as well have added that they are stuck.
IMO our best bet would be if they re-winded back to de-listing and IPOed Napster, as they mentioned around that time.
After all, Jon V and co. have even more at stake in this than we do.
Thanks for that jambor.not sure as to what it means, but at least you've had a response. hopefully clarification will be provided in due course.
Got an email today from Napster! I’ve been chasing them for ages re my tokens and this was it!
We confirm receipt of your email. Please note that the Napster Innovation Foundation is currently paused with regard to processing Napster Network transactions while we work on a technical update. The Foundation will hold your request and process your transfer or respond to your request once we resume processing.
We expect to resume processing in Q2, 2024, and we appreciate your patience at this time.
Sincerely,
Napster Innovation Foundation
Does the length of SBF's jail sentence determine whether we crypto or not?
Started: Flomiester, 5 Apr 2024 16:55
Last post: Flomiester, 6 Apr 2024 20:23
Hi jambore
Thanks for that...I missed your post.
Cheers Chris
Hi Chris
See my post a couple down, they have suspended the tokens for now
Has anyone received information about the value of the napster tokens?
I was under the impression that as of the 31st March the tokens will have a value .
Cheers Chris
Last post: AlbertPode, 17 Mar 2024 09:22
TBH Jambor I think ii can only act on the comms from Napster, who seem to have a haphazard way of going about things. i.e. they have advised HL holders of their allocation but not others like us.
Napster Inc seem to behave a bit like the old UK version. Presumably our (eventual) holding will include the existing streaming side of the business but I have not been able to find details of turnover, profit or even market share. And the metaverse didn't exactly hit the ground running with the talentless brat appearing to throw his toys out of the pram.
Interactive investor are driving me mad! I had such a big holding of Napster so really want to get these tokens in place as they are supposed to be able to be traded as of 2 weeks time! They can’t tell me anything apart from we’re still in discussions with Napster, as they were a year ago. So frustrating. Anyone else received any tokens through Brokers?
Very interesting glennstar
that is very much what i have been hoping would happen im with HL,but i imagine once a solution is proposed/adopted by one platform others will follow.
Tiny cash top up received today from Halifax. No mention of the tokens. In a separate exchange on their chatbot Halifax did suggest that they would getting a third party to receive and sell the tokens then pass the funds to them and onto my accountwhich will presumably happen after 31 March.
Likewise Jambor
Last post: The.Italian, 1 Mar 2024 15:56
Afternoon albert.sorry you have had a disappointing response.looks like the wait goes on for a proper substantive development.i will post anything i get from HL as and when.
Morning Italian
Had a reply from ii late yesterday p. m.
Just to tell me about lock down which obviously I already know.
Napster were quite curt with them saying they had other priorities and that the tokens would be issued by end of lock down.
I thanked ii for their trouble, but Napster don't come across as particularly pleasant or businesslike.
I don't believe this. They wait a whole week just to ask me what my message refers to.
Is anyone else having trouble with ii ?
Https://www.napster.com/us/wp-content/uploads/sites/5/2022/06/Napster-Litepaper-V1.pdf also if you are interested as to how you may be able to use the tokens you could read the napster 3.0 litepaper which explains the "vision" .the tokens won't be useable/tradeable until end of march(projected date ,so you need to follow the news for confirmation). no idea yet as to value,but there will be 10 billion issued. also ,as albert kindly point out,i have posted the text of the messages i have had from HL regarding how holders on that platform can access them.if,as sounds to be the case,you have the holdings on one of the trading platforms,you may ,of course,get detailed advice from you own platform provider. just to be clear,i am not offering any advice here and this is just my personal understanding of matters.the situation is not straightforward,so if in doubt,you my need to get professional advice.
Italian went into great detail about the tokens yesterday
Started: The.Italian, 19 Feb 2024 19:09
Last post: The.Italian, 24 Feb 2024 14:58
Slightly tarnished by age, albert! or should that be burnished? hope you hear similar from II.
Thanks for all the trouble you've gone to Italian. You're a diamond.
TBH if ii come up with something like this I'd be happy (and pleasantly surprised).Like yourself, given the choice I'd rather stay on the broker's than going the Algorand route, which is too much into the unknown.
Here it is.had to post in two parts,as wouldn't copy the whole. ive also had another one about my sipp, explaining i can't withdraw them in specie, as would be in contravention of sipp rules. i'm probably going to wait to see what else HL say in due course. i really don't fancy getting involved with an algorand wallet, so i'm hoping they may be able to come up with a cash alternative once they become tradeable and have a value ascribed. bearing in mind there are 10 billion in issue i'm not getting too excited! hope this helps albert, at least until you get a reply from II
We are not able to provide any advice or instruction in relation to Algorand wallets, your transfer of the Napster Tokens to an Algorand wallet, or your use of an Algorand wallet which is at your own risk. We accept no liability in relation to any use of an Algorand wallet. Any instruction to transfer your Napster tokens must be given directly to HL; you cannot transfer your tokens by speaking directly to the Napster Innovation Foundation. In order to transfer tokens into an Algorand wallet we require you to confirm that you understand the following:
Hargreaves Lansdown cannot provide any advice or instruction in relation to Algorand wallets, your transfer of the Napster Tokens to an Algorand wallet, or your use of an Algorand wallet which is at your own risk. We accept no liability in relation to the use of an Algorand wallet.
You must only provide HL with your Algorand wallet address. You must not provide HL with your private key to your Algorand wallet address.
There is no way to recover your tokens if you lose your private key. HL will accept no liability for this risk.
The wallet address you provide must be an Algorand wallet address. If you provide a wallet address other than an Algorand wallet address, then your tokens may be lost and irrecoverable upon transfer. HL will accept no liability for this risk.
If you provide HL with an incorrect or incomplete wallet address, then your tokens may be lost and irrecoverable upon transfer. HL will accept no liability for this risk.
Hargreaves Lansdown shall not be liable for any loss of your tokens if you fail to follow the above instructions or correctly understand the highlighted risks.
If you decide to transfer your tokens Hargreaves Lansdown will no longer hold any responsibility for safeguarding these assets for you.
If you would still like to transfer your Napster Tokens into your own name then you will need to:
Confirm you have read and understand the transfer risks and warnings above.
Provide HL with your Algorand wallet address.
Send your instruction byThursday 21 March 2024 in writing. You can do this by post or by sending us a secure message via hl.co.uk/contact-us . Please note that we are not able to take these instructions by phone.
Should you have any queries relating to this message please do not hesitate to contact us.
Yours sincerely
Dominik Palejczuk
Corporate Actions
As part of the takeover of NM Inc (Napster Music Inc) by Algorand Holdco I Inc you received a payment of Napster Crypto Tokens (Napster Tokens).
Lock up period
The Napster Tokens were issued at the end of March 2023 and are being held by Napster Innovation Foundation, an organisation formed to distribute them. The Napster Tokens have an initial lock up period of 12 months from 31 March 2023, which means these tokens can’t be traded or valued right now. We are awaiting further information about options for how the Napster Tokens may be held or traded after the end of the lock up period and will update you when we have further information.
Holding Napster Tokens with Hargreaves Lansdown
As previously communicated, Hargreaves Lansdown cannot hold crypto tokens on our platform. The Napster Tokens recorded are therefore strictly for bookkeeping purposes, representing Napster Tokens held by the Napster Innovation Foundation. Napster Innovation Foundation is currently investigating options for token holders, including platforms like Hargreaves Lansdown that cannot hold the Napster Tokens.
We have updated your Stocks & Shares ISA to reflect that you are entitled to 123.34 new Napster Tokens for each NM Inc share held. We shall continue to maintain records of your entitlement to Napster Tokens and engage with the Napster Innovation Foundation to establish more information about how Napster Tokens may be held or traded after the end of the lock up period.
Important information for ISA holders
Under HMRC rules, these crypto tokens can’t be held in an ISA. As you hold these units in an ISA, they must be removed from it.
You need to transfer your units into a Fund & Share Account. If you already have an active Fund & Share Account you don’t need to do anything – we’ll automatically transfer your holding shortly after Thursday 21 March 2024. If you don’t currently have an active Fund & Share Account you can open one online at www.hl.co.uk or over the phone on 0117 900 9000.
If you don’t have an active Fund & Share Account open by Thursday 21 March 2024 we’ll place your shares into an inactive version, which you can then activate by following the same account opening procedure as above.
Holding Napster Tokens in an Algorand wallet
If you wish to hold your Napster Tokens directly, rather than via Hargreaves Lansdown, the Napster Foundation are now able to facilitate a transfer of the Napster Tokens into an Algorand wallet in your name should you wish to do so. An Algorand wallet would be provided by a third party, and if you wish to transfer to the Algorand wallet you should ensure that the wallet is suitable for you, that you understand the implications of the transfer and use of the Algorand wallet, and that you have read all relevant information and terms and conditions relating to the Algorand wallet.
We are not able to provide any advice or instruction in relation to Algorand wallets, your tra
Started: AlbertPode, 9 Feb 2024 14:34
Last post: The.Italian, 16 Feb 2024 17:05
Yes,that makes sense,albert don't want to roll out the pioneers until the wagons are ready to take them to the promised land! .glad to hear john v continues to be upbeat,as i haven't tried to follow him for a while.fingers crossed.
Hi Italian
Nothing from ii either, although in the past they have been in contact pretty fast when they have had news.
As I see it we are waiting for tokens which would need to be in place before the artists are in the Metaverse (en masse hopefully). Something which Jon V continues to be upbeat about.
Afternoon albert. well that is one less pioneer to have to worry about. in the vein of pioneers and visionaries, wasn't our erstwhile leader, matchett, ofter described as a visionary. that didn't end well did it!
on a serious note, i have girded up my loins (are we allowed to say that sort of thing anymore?) and messaged HL, as I've still not heard anything at all. will notify of response in due course.
Our Metaverse pioneer seems to have gone AWOL. His Instagram has been taken down and his picture is no longer on Napster's.
Can anyone find him??
Had a look to see what I could find on this guy, including Ebay to see what vinyl/CDs there are/have been. Precious little.
I think Napster Metaverse is going to need some NAMES. Not Z-listers who think they are superstars.
Started: Casey73, 8 Feb 2024 09:26
Last post: Lu_cypher, 13 Feb 2024 12:23
Yes I have the same as Snapuae,
Just on the phone to HL to see if any further details available...
they are writing out further comms which will go out shortly outlining the steps to withdraw the tokens.
quite a complex process as HL do. not deal with Crypto.
so will know better what's going on shortly.
There is no detail or link to a letter, just a note "Corporate Action ref - E 01229197"
Yes it would be good if you could copy and paste the contents of the letter.
Perhaps they are ready to launch soon?
Thanks ofr that Lu. my wife and i are both on HL and neither of us have had any notification as yet.are you able please to clarify a little as to what the notification actually says and did you get the usual HL email to say that you had had a corporate action notice? many thanks
Just logged in to HL account and seen a corporate action dated today 12/ feb/ 2024
Napster
Token Entitlement
What does this mean as haven't the foggiest
Started: PureGypsum, 26 Jan 2024 12:21
Last post: The.Italian, 27 Jan 2024 14:09
Afternoon albert.yes good to see some developments.hoping for news on the tokens soon.will probably email HLshortly if i don't hear soon.
Morning Italian, PureG.
I'm trying to follow the updates on the Instagrams of Ric Wilson (who was quick to post), Napster, and Terra Zero. There is plenty of crossover between the three of them. Obviously the more artists that sign up the more interesting this will get.
The tokens should be due pretty soon for those of us still waiting for them.
Very interesting PG. good of you tp post. i imagine this sort of thing is potentially cumulative,as more artists etc are added over time.do keep us posted.
Hi guys
Sorry I've not really check in on here and quite alot of new developments!
I'll try to only add new information.
The napster universe or whatever its called is now accessible. I've been in it. They have chosen Ric Wilson as an artist, presumably big enough but not too big as they iron out kinks. His particular artist "Metaverse" is a bit like a recording studio apartment. You have your own avatar/character and can run around (and jump for some reason). I think the character will become customisable, and you'll be able to buy merch for your avatar. You can talk to other people who are in the Metaverse space too, though I've only seen two other people in there so far. There's not really much reason for people to be in there unless there is a event on. . . Ric Wilson is supposed to be launching his new single in the Metaverse in the coming weeks. I haven't seen any dates but I will definitely be attending.
Please do ask questions and I'll get back to you on them!
Started: tubs1960, 24 Jan 2024 10:48
Last post: tubs1960, 24 Jan 2024 12:09
Thanks Jambor.
Yes - a very small one
Has anyone had a 3rd cash payment?
You need to go directly to NAPSTER for tokens, see below email addresses - the brokers aren’t interested in my view as they can’t hold them. We had to set up at Pera Anglo wallet to hold the tokens.
On Friday I received a corporate notification from Halifax that a further payment of $0.46594 per share was made in respect of my holding pursuant to the merger with Algorand on 16 February 2022. Translation seems to have been at £1=$1.307. Sadly no mention was made at all of the $Napster tokens, with simply a comment they would communicate again with any further information regarding future payments from the company. I am minded to ask them for some info on the final tranche, tokens or otherwise, rather than nothing at all in order to calculate the relevant capital gains tax pertinent to the transaction as the tax filing deadline of 31/1/24 is fast approaching
Thanks for the clarification,jambor.appreciated!
Yes came through ii - it was part of the original payment structure they set out a year or ago! I’m just hoping the tokens are worth something, I lost a fortune with naps!
0.0467 dollars per share is about a hundredth of what the previous payments were?
Never mind, hopefully the tokens will be worth a lot. I have a feeling they will be popular in the first year after launch.
Started: The.Italian, 20 Jan 2024 15:29
Last post: The.Italian, 21 Jan 2024 14:44
Afternoon albert.i am indeed well ,as i hope you are.yes i found it interesting,but like so many things in this area,i only partially understand it and,as is so often the case,information is limited or incomplete.anyway i agree it does seem a positive for napster generally.serves to emphasise,imo,how much potential the original melody had in concept,which was sadly wasted by incompetent(and probably poorly advised)management.oh well,water under the bridge as they say.let us see how things develop.best wishes to you.
This is now on several music sites. hopefully PR/marketing will get more mainstream though this is likely to be mainly in the US.
I do not see Algorand mentioned and are Mint still involved?
There is nothing yet on Ric Wilson Instagram (30K follows). Presumably some self-publicity won't do any harm.
Maybe it's not quite the finished article yet. They won't launch until it is.
Hi Italian.
Been a while but I hope you are well.
Well found. It's like the first speck of gold that promises more nuggets to come.
I've only speed-read it so far but it looks like Melody's VR groundwork has been put to good use. In fact, there is a bit of everything in this.
I'm not familiar with Ric Wilson, but then there is a lot of modern music I'm not familiar with! I still live with 70s heavy metal.
Been a while Italian. Hope you are keeping well.
Well found. It's like the speck of gold that promises lots more nuggets to come.
I've only speed-read it so far. but it seems that Melody's VR groundwork has been put to good use. In fact there is a bit of everything in this.
I'm not familiar with Ric Wilson but then that's par for the course with modern music for me! Now 70s heavy metal.......
Take care. Talk to you soon.
No idea if this is of any relevance or significance to our situation vis-a-vis tokens.https://tokenpost.com/Napster-TerraZero-Collaborate-to-Setup-Metaverse-for-Music-Artists-11097
Started: Flomiester, 1 Jan 2024 14:56
Last post: PureGypsum, 6 Jan 2024 19:14
Great to hear that others are getting their tokens! Let's hope for an exciting time in the coming months!!!!
I went directly to pete
Ir@napsterfoundation.org
It's taken a long time but I'm sure he'll contact you!
Good luck everyone
I went directly to Pete Willey at Napster. They send some forms to fill out.
ir@napsterfoundation.org
peter@napster.com
I'd be interest to know how you recieved them?
Are other people contacting the napster email directly?
They should be live soon so will be interesting to try to value them.
Still nothing! Did you go direct to Napster or did you receive them through your broker?
Last post: GPHolding, 29 Nov 2023 14:49
Similar experience but 'opting in' was definitely related to opting in to the $napster ASA. Resent info as well and radio silence despite multiple chasing emails
Same as Italian. Nothing from H&L since I last emailed with them. Sit tight and hope I guess.
Best of luck all.
I’m currently with ii - as I understand it from them, the issue is the brokers can’t find a way to hold them, thus being recommended to go directly. Happy to go through Brokers but I guess we’ll await news as to how they hold them
He probably meant at the time of de-listing. We originally had the option of going certificated.
By asking for tokens now, we are in effect doing that, as I see it.
IMO it will probably be simpler to leave the shares in the brokers' account. It's not as if we can trade them anyway until this gets the green light.
Pete emailed me a month ago to say that I hadn't opted in to receive my tokens.
I opted in months ago !
Replied with the information again and heard nothing since!
No idea what's going on
Started: AlbertPode, 3 Nov 2023 14:19
Last post: trousers13, 5 Nov 2023 15:00
Too true Albert. Larry Fink (Blackrock) has even stated that BTC is ''a flight to quality''. What Larry wants he gets. Spot ETF by year end me thinks.
Even Jurrien Timmer, Fidelity’s Director of Global Macro said Bitcoin’s risk-reward is “in a different universe”.
What a difference a year makes.
Best of luck all.
Inevitably SBF has secured himself a lengthy stretch.
However , like AI , crypto is here to stay. Whether it's beneficial or otherwise will depend on whose hands it's in.
The bad news was out of the way when SBF was arrested. And Bitcoin's value has since rebounded.
Now it's time for the authorities to do a thorough spring clean. Which will benefit the likes of Algorand/Napster
Started: tubs1960, 7 Sep 2023 20:21
Last post: trousers13, 10 Oct 2023 14:48
Hello PureGypsum
Ok, I get it now, that's going to make things a whole lot trickier I guess. Let's hope H&L settle in cash otherwise it's back to the Pera wallet and then try to find a way to cash out.
Best of luck to all
Hi Jambor and Trousers!
I'm afraid you will not be receiving Algorand Tokens.
The tokens you will receive are are called Napster Tokens and are abbreviated to NAPS. The tokens have no current value as there is no market for them. Logically, being owned by Algorand they built on the Algorand chain, which is perhaps where the confusion arises.
Greetings Jambor
As far as I understand it the tokens we may receive are called Algorand and they are currently trading at about £0.079441, down about 73% over the past year. I suppose we should be happy we didn't get them a year ago!!! By market cap they are rated 43rd out of tens of thousands of coins and tokens, so not too bad.
https://www.livecoinwatch.com/price/Algorand-ALGO
For what it's worth the next 'Bitcoin halving' is due around April 24. Historically the cycle high point has occurred about 10 months after the 'halving' and as Bitcoin rises so should most other coins and tokens in the space. My point is if I do get Algorand tokens then I shall certainly hang onto them until around Jan/Feb 25 and then sell.
Hope this helps.
Best of luck to all.
Filled out my forms and sent back last Thursday, fingers crossed all goes smoothly. Do you think when these tokens go live in March, there will be monitory value to them or do you think they will just be used on the platform to buy things, I kinda lost touch with this over the year as I thought nothing would come from it but heres hoping!
In my case after submitting the forms I received the tokens next day, however that has not been typical. From initial contact to it took three weeks.
Started: PureGypsum, 5 Oct 2023 16:36
Last post: PureGypsum, 5 Oct 2023 16:36
The first NFT seems to be available in a prize draw. Seems like entry for the prize draw is a reward for subscribing to some form of white paper. The NFT will allow users some benefits, including early access to various things. I like the graphic design.
Enter for yourselves, or simply have a look at;
thecatisback.xyz
Started: PureGypsum, 19 Jul 2023 06:13
Last post: AlbertPode, 18 Aug 2023 12:40
I received a similar email last May from ii.
Napster PLC effectively came to an end a year previously when we were paid our first instalment.
Napster Inc continues to appear on the brokers' account although there is no currency value.
The brokers themselves can only pass on info which they themselves get. The only certain thing is that their respective platforms cannot support tokens. So we continue to wait on Napster - or Algorand.
Kaba I don't believe the napster network has publicly launched yet and so theres no market for the tokens for now.
Any idea what price the tokens are trading at?
Yes had same email.it states that the napster group holdings have been removed from my accounts,but this does not affect my entitlement to the tokens,as to which they will contact me when they have more detail..
Hi all,
Just had an email from HL, Napster was dissolved in May. Tokens have been credited so phoned HL, was told that tokens have been credited to individuals but HL has no process for receiving or distributing. They will email when more is known
Last post: PureGypsum, 14 Jul 2023 21:42
No updates from me personally, I have emailed again to follow up and will report back here. More stories of people getting their tokens are coming through. I can confirm this as well by looking at the Blockchain - three people received their tokens today.
You can also view the Blockchain if you like on the algo explorer website. The required asset ID is "1068473489"
Quite right Kabaa. I took interest in limewires token release, if I recall correctly investors at the equivalent stage to our situation got a 3x return at the official launch.
Worth noting the price has since collapsed
I'd like to think the cash equivalent would be less attractive than receiving the tokens, as would usually be the case in a deal like this.
So we may be pleasantly surprised that our tokens might be worth more than $4.47 per share in the next year or 2.
It wouldn't surprise me if they are a success and end up being worth substantially more down the line.
Glennstar I think the difference between your maths and my maths must be the outstanding shares. I have no information for this figure and so I used the cash equivalent from the distribution schedule which details $4.47 per share. You can see this in the second to last column of the table
Ah Kabaa apologies I was thinking in tokens not shares, my bad. In which case you are correct $4.47 per share.
And given we are expecting about 129 tokens for each share each token will need to be 3.5cents.
Started: kebark, 5 Jul 2023 14:19
Last post: PureGypsum, 5 Jul 2023 22:24
Hi Kebark,
This wasn't really a dividend even though 212 have classed it as such. This is part of the sale deal.
We had the initial payment upfront and this second payment just received was the Escrow, a third possible payment will be the security holder representative reserve. That third payment is around 9 cents a share. However I suspect the security holder representative (AM) has probably burned though much of that.
Finally will be the tokens, which we are working on collecting, but may take some leg work on your part. I have been in contact with the CFO to this end and hope to relay more information here next week, after a hopefully successful token transfer.
...are we set to get more dividends in the future, or was that a one off? Rather funny seeing a payment on T212 and not actually having Nap show up on my portfolio on there...
Started: Flomiester, 19 Jun 2023 21:35
Last post: Flomiester, 19 Jun 2023 21:35
Is it possible to keep my paper shares in napster group plc?
Or do I have to exchange them for tokens?
Started: Flomiester, 17 Jun 2023 22:12
Last post: PureGypsum, 18 Jun 2023 20:02
Hi Jambor
I now know of others having received the Escrow amount. They have reported 90 cents a share. As for the security holding, I'm not aware of anything regarding that.
Cheers
I know the main payment decision is tokens now, but does anyone know what the payment due now is worth at all?
Algorand bought the company and the payments and tokens are your compensation. All your paper certificates are good for now is for collecting said payments and tokens
Hi, can anyone help me out as I've got 41 paper shares and received the booklet on the merger.
I keep getting emails from srs acquiom saying that they're trying to pay me.
I've emailed back for more information but no reply.
Will I lose my shares if they pay me any of the payments or are the shares worth exchanging to tokens?
Any guidance would be very much appreciated.
Started: PensionDeficit, 9 Jun 2023 13:28
Last post: AlbertPode, 10 Jun 2023 08:07
Thanks PensionD. I guess that takes us slightly closer.
I've not had anything similar from ii though, Which suggests progress is a bit haphazard.
Thanks for posting that Pension Deficit.yes thats what I've had also on my hl.at least we know roughly where we are.
We’d like to provide you with an update following the takeover of NM Inc (Napster Music Inc) by Algorand Holdco I Inc.
As part of the takeover holders have received:
USD6.065854 per NM Inc share (paid to you in May 2022), and
A payment of Napster crypto tokens.
The Napster tokens were issued at the end of March 2023 and are being held by Napster Innovation Foundation, an organisation formed to distribute them. The tokens have an initial lock up period of 12 months from 31 March 2023, which means these tokens can’t be transferred, traded or valued right now. Additionally, Hargreaves Lansdown can’t hold crypto tokens on our platform.
Napster Innovation Foundation is currently investigating options for token holders, including platforms like HL that cannot hold the tokens.
The original terms of the takeover also mentioned a potential additional cash payment. Napster Innovation Foundation have said the amount and timeframe for the payment can’t be confirmed yet.
When we hear more, we’ll update you but we can’t give a timeframe for when this will be.
Yours sincerely
Yeah, likewise.
But ii said from the start that the tokens couldn't be used on their platform.
Presumably we will now be treated the same as the paper holders that PureG mentioned yesterday.
I’ve received a corporate action saying my shares are deemed worthless so will be removed from my account! Nothing more than that and nothing about tokens still
Thanks for the post PureG. Hope you are keeping well.
I don't think there is any lack of will on the part of Algorand/Napster to move things on. It is in their interest more than anyone's.
Inevitably it was always going to take longer than we would like. Patience is a virtue.........
Did he happen to mention how many tokens were allocated per share held?
Just to let you guys know someone in the telegram group who held paper shares has received the tokens, so at least there's that . . .
Started: The.Italian, 1 Apr 2023 11:24
Last post: Glennstar, 9 May 2023 12:20
Just to be clearer the thoughts on trancches 2 and 3 are my conjectures; I shared them with Halifax who did not rule them out or confirm them.
Interacted with Halifax again on the chat today to see where they might be in this transaction. It seems they have had some intelligence from Algorand but not a lot and their queries are not being answered. What they do seem to think is the 4th consideration is in tokens, but these are in “lock up” for a year, with the year running from 31 March 2023. They are unclear on the 2nd and 3rd tranches; one thought is the amounts have been rolled into the crypto and another is that Algorand exhausted the escrows so there was nothing to pay out.
yes, more than happy to wait out for the tokens, but its the cash payments I'm awaiting news on, their communication has never been their strong point!!
Being patient for the tokens is one thing, and there are a variety of understandable reasons to cut all parties involved some slack.
The other two outstanding payments however are causing some raised eyebrows over here! No news AJ Bell & 212
nothing from HL as yet.im not chasing it up ATM,but may do at beginning of May.