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They say that only logic should govern share dealings, never sentiment. I broke that rule in the case of RMM - and I'm sure many others on here did, too.
Never again!
I really did feel confident about the prospects for the company for quite a while but that confidence gradually evaporated as time went by and we watched the sheer ineptitude of the 'CFO' and the deceptions of the BoD.
Luckily, I got out with just the cuff of my shirt ripped off! I managed to hang on to most of it - though it was pretty valueless and threadbare by then!
I encountered many characters on this BB and was always grateful for advice from the likes of Cornish etc; I hope that none of you are in real trouble due to believing in these lying bastds on the BoD.
Perhaps we should form a RMM survivors club and meet annually in a phone box somewhere? Maybe our old friend Moon with his sagacious advice and punditry could organise and chair it? GLA.
BOD ...bastard of directors.
Can someone please clarify for me just so I can put this one to bed. For anyone that still held shares in this failure of a company is their money gone and never to be seen again?
Luckily I only had a fairly small holding in this one but it's disappeared from my Hargreaves Lansdown account so I'm assuming I can put it down as a 100% loss and forget about it.
@funds.
Sadly, & as Defrost Kelley used to so memorably say....
"This man is dead Jim"....
As posted some months back. At least donuse the defunct shares in your SD accounts to claim:
A) the negligible value.
B) that this is a full capital loss, to then offset V any future gains.
Write to the HMRC CG discipline now to claim that. I have.
The only caveat is that you may find shares in your SD Acc, that originated bought in your ISA. Your broker moved them there when RMM delisted, as it's illegal to hold them there in that situation tba.
But as they were bought in the ISA wrapper. Nothing can be claimed on them by precedent sadly.
HTH.
Just as a follow up to my post below, and as it may help others that have similarly suffered here in some small way ....
It's taken some months to come back. But the HMRC CGT duty have now agreed the concept outlined below.
E.G. that the RMM shares that I held in a share dealing account (NOT the ones from an ISA moved lately there by my broker). Are qualifying for negligible value due to the Rambler wind up and Canadian sell off (nil coming back basically). That further, the sum total of purchases made including any fees. Can then be claimed and offset (as a capital loss), against any future or current tax year capital gains.
Small beer agree. But with CGT limits being progressively cut. One may at least use the loss here to bolster gains elsewhere without being taxed. Assuming the general malaise that is AIM ever rights itself and we start making any monies.
HTH.