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Once moved out of ISA , if they ever do relist you will get hammered with CGT ?
The shares will be transferred out of the ISA and into another account accordingly to whichever broker you use. However you will not be able to trade those shares unless your brokers deals matched bargains.
It mind boggles me that a company worth lots more than the current market cap is this low.
Who is the other side of these trades…
So this is a simple question can i keep my shares in my isa? what will happen to them?
Not according to the rns they don’t …
As a Standard Listed company, OCT is not required to obtain the approval of shareholders for the Cancellation. Pursuant to Listing Rule 5.2.8R, the Company is required to give at least 20 business days' notice of the intended cancellation of its listing. It is therefore anticipated that the Cancellation will become effective at 8.00am on 6 June 2024. Following the Cancellation, the Company will no longer be subject to the regulatory and statutory regime which applies to companies admitted to the Standard segment of the Official List and traded on the Main Market.
Bit ironic that this was done to increase value
Pardon?
'As a Standard Listed company, OCT is not required to obtain the approval of shareholders for the Cancellation'
They are gone.
Having been very critical of the company's failure to raise more money earlier and drive themselves into a brick wall of lack of liquidity, I do think the shares now represent decent value. I don't think shareholders should be selling shares today in anticipation of the delisting, given that this is still subject to a shareholder vote at an EGM and that will require a 75% approval. There is still time for alternative solutions to be put forward, and any that are would almost certainly deliver more than the current share price. We are where we are, selling now makes no sense.,
They are traded on the OTC markets in the USA so not sure what bearing that will have here going forward as most holders are UK based and the shares I assume in the USA are under a different jurisdiction.
...from Clarissa's "Today is a very good day!" tweet following the (eventual) approval from the MHRA. Since then, the share price has done nothing but steadily decline to less than 10% of what it was at that point. Not sure that shafting them for the remaining 10% will engender much goodwill.
So a potential company worth a valuation of £27m could be picked up for £1m right now. It does make me wonder a while back there was a mass of buying and no movement in price, just what was happening, This has been rushed through for reasons. For the fun of it I am sticking around.
Is stupid
When is the interview going out?
Had a few k at 3 p plus I sold as don’t hang around. AT THE time I lost 100 so far cheaper than this crap at .12 Done a survey on my shares over two years ratio of 8/10 are well down if I held . Just glad I’m a quick mover
If they truly believe the company is worth more than the current market cap why don't they just put the company up for sale?
So this is for anyone with a HL account. I have this morning requested a contract note just as a proof that I made a purchase of the shares. However the shares will be moved out of the ISA and into a Fund and Share account which costs £1 to open or if you have one already the shares will be transferred out of the ISA and into it. The shares will not be able to be traded at any time and will sit there in the off chance that they come back on a recognised exchange again down the line.
Can you ask what timescale the board envisages before a relisting on the Nasdaq might be realised?
UKtrader6
I understand the predicament here and that everyone has a different approach right now. I am in a loss on this but am willing to write this off for now in the hope that down the line it comes good again. This might not be suitable to others and they have to make up their own mind what do to next. It has been stated that a NASDAQ listing is a potential option for consideration then I am prepared to wait.
Mark, please ask her what we should do if stock currently held in an ISA with Smart Investor and now almost worthless. Would she like to buy my shares?
@ MarkyMarkMan
Ask them what they have to say to the investors that bought in at the IPO at 5.00p and funded this merrygo round and the trials to get stuffed
I'd like to ask why they aren't looking at a dual listing if current funding isnt an issue, rather than close and then relist (maybe) on an American Market.
This would give investors more confidence they won't lose everything as it appears there is no guarantee of ever relisting.
Also JP Jenkins tends to be very illiquid so hardly likely to be able to trade so why should this be considered helpful?
Someone is buying them all, bit odd
Hello, this is Mark from StockBox. I will be interviewing Clarissa in an hour. This news has obviously come as a surprise and if anyone has any questions you'd like asking post here and I'll put them accross.
Exactly..
“In due course, the Company expects to re-list on a regulated investment exchange that recognises the true underlying value of the business. We remain a British company, and we are proud to be part of the UK life sciences sector and believe in its strength and depth. We also note a perceived rising tide of informed market sentiment that appears to suggest quoted companies may realise a better reflection of their intrinsic valuations by moving their listing to North America. The US, specifically NASDAQ, provides an attractive option with its deep pool of life science capital markets.”
Just reread, it's says
In due course the company expects to relist on a regulated investment exchange that recognises the true underlying value of the business.
The US, specifically NASDAQ provide an allractrive option with deep pool of life science capital market.