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Explain the in share price.
The only way to acquire Warrants was to participate in the open offer share sale, and you had to be an existing shareholder to do that. I don't think hedge funds fell into that category after the odious Odey sold up.
So how are these mysterious "hedge funds" in the background creaming cash off private investors?
A full and referenced explanation would help me understand how, as you assert, that AIM is skewed against private investors, when a share is a share, irrespective of whose name is attached to it.
Look forward to it.
A week or two ago you were bleating about the hedge funds etc NOT taking the warrants
make your mind up
As we all know. AIM is skewed against the PIs. In the background the large hedge funds take loads of warrants and shares and off load these to the peasants as the price is gradually dropped back down to where the RKH board will set the next offer. RKH have no control having given it to Navitas.
PIs must either choose to take the warrants early or risk losing out. A small profit maybe and a promise of jam further along ….
July 10, 2023 - The ad hoc Committee issues Procedural Order No. 2 concerning the termination of the stay of enforcement of the award.
WRT the Rns saying
'provided that Italy does not within those 5 business days submit a reasoned written objection in these annulment proceedings that the escrow arrangements established are not in accordance with the proposed arrangements.'
It is unlikely Rock will err in opening the escrow account, however I half hope ROI do make up some Micky Mouse objection, as it will possibly again, irritate ICSID representatives.
Exploration assets are considered as property so do not qualify; productive assets such as oil wells do qualify. So on this scenario, RKH will qualify in 2026!
'Unlisted shares qualify for IHT relief so it follows that RKH shares should qualify'
Only certain AIM shares qualify for IHT exemption and I believe oil/gas exploration companies do not.
Better check - the ultimate authority in which do or do not is HMRC, who are very unlikely to answer an individual's question, although you could try.
Where is Ohtaxes when you need him?!
Hi Union Jack
I hope you are well and not going to shift off this planet too soon
Probably best ask a decent IFA these questions as all will depend on personal circumstances
There are ways to avoid IHT trusts etc, but doubt that the responses on here would be bulletproof depending on what else you have hidden :-)
Stay well
Boboil
Thanks Alma.
So if I understand correctly, if Rock were to multibag, as we hope, no matter how big the pot is, as long as the shares have been held for two years, the pot is are not subject to inheritance tax.
I’m hoping not to shuffle off my mortal coil just yet but this could be a great advantage IF, FID and OM come in.
Remember when they said they were going to have a main listing, LOL.
Maybe one reason that RKH management don’t want to be FTSE 250 /100 based is their ability to maintain control of the company would be reduced ?
AIM is not recognised as a stock market by HMRC. So whilst RKH are "quoted" on AIM, they are not "listed" on a stock market. Keith Lough made this point a couple of years ago in relation to the company's disclosure obligations.
Unlisted shares qualify for IHT relief so it follows that RKH shares should qualify.
Does anyone know if Rockhopper shares qualify for Business Relief in respect of Inheritance Tax please?
I’m optimistic about the company’s future more than my own, after 15 years holding :-)
Any info. Appreciated.
Neilius,
If further evidence is needed,
The operating budget for the Mineral Department of the FIG has jumped YOY.
2022 - £307,316
2023 - £863,620
https://www.legislation.gov.fk/view/html/inforce/2023-07-16/fiord-2023-3#sch.1
Mogger
Commenting on Ben Wallace departure announcement Sky news commentator mentioned Chinese supplying Argentina with arms. Wake up Downing Street !!! Oil revenues to support military in FI more important than ever.
https://dialogo-americas.com/articles/china-pressures-argentina-to-build-naval-base/
Thanks for posting the link pre2rcd,
It’s hard not to surmise that all parties are sorting through their “to do” lists to make Sea Lion happen. Utterly biased but that’s my take anyway!
IG reply to an e/mail within 24 hours? Nearly fell off my stool laughing! Two weeks is the norm in my experience.
For those who aren't sure, warrants options for RKH shares from last year's Open Offer, held in an ISA, could only be held in that ISA for 30 days, after which the broker will move them into a normal trading account. If you didn't have a normal trading account, most brokers would have opened such an account for you, where you will find the warrants listed, with zero value. That will have happened last year.
If you wanted to take-up the warrants option, at the time of the Open Offer last year, they cost 9p each (as they still do), whereas the RKH sp was around 7p at that time.
If your objective was to make money, you'd have bought any additional shares you wanted for 7p. If you wanted to make a generous donation to RKH cash reserves, you could have exercised your warrants while they were still in your ISA, but that would have cost you 9p and you would have been limited to the number of warrants issued to you. Some may have done this (in order to keep the converted warrant shares in their ISA), but I can't imagine many did.
Where we are now: Any un-excercised warrants will be held in normal trading accounts, not in ISAs. Even if Navitas walks away (very unlikely), the RKH sp is probably underpinned by the ICSID award being paid eventually, so the warrants currently offer free money, which is likely to increase before they expire on 31/12/23.
Any profits gained from your warrants may still be tax-free, assuming you don't exceed your annual CGT allowance, so not much to moan about.
Just keep calm and make sure your broker does as they're instructed.
My warrants were held in my interactive investor isa and had to be transfered to my standard acc before i could exercise them
Might be a red herring, but if the account is an ISA the warrants can only be held in the ISA for a limited amount of time.
Thanks - I did participate in the placing via spreadbet - usually they find a way to ensure the spreadbet position gives you the same rights as a shareholder although perhaps not with warrants.
Re selling award at a discount : Would RKH's lawyers agree to this ? Surely they want to be paid the agreed % of the whole award they worked so hard to get.