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Shares with values now showing on Halifax but conversion is 13 and 14.6 per salv shares not 18...odd.
Portage showing on HL but no detail.
Portage resumed normal trading; Fairly stable at the mo, but I would expect some profit taking as and when peeps this side of the pond are able to trade. Some good news is needed now to lift the price me thinks
Thanks CJ.
Buffetology I have received mine in my HL accountant but unable to trade presently. Their reply :-
As a result of the demerger, you now have 19,080 new shares in Portage Biotech Inc., which are already showing in your HL Fund & Share Account.
Please note that as we received these shares from the company in certificate form, they need to be lodged into nominee form before they can be traded from your account. I have confirmed with the Corporate Actions team that we are in the process of lodging these certificates with HSBC, and as soon as this has been completed you will be able to trade these shares as normal on our platform.
We are awaiting confirmation dates from HSBC, so as of yet there is no specific date this will be completed, but we are working to have this process completed as quickly as possible.
Please also be aware of the possible delisting of SalvaRx Group plc, in the unlikely event the company fails to appoint a replacement Nominated Adviser (Nomad), details of which are in the secure message we sent you dated 2 January 2019.
I hope this has been of assistance to you. Should you have any further queries, please view our Help and Support centre or contact us on 0117 900 9000.
Has anyone received their Portage shares yet ? And what broker are you with .
Spot on Quint!; I'm sure that most investors were/are fully aware of the Liquidity issues that comes with this investment. I would imagine short/ medium term it will be very hard to sell, with tiny amounts and bigger dealing charges. So yes this and SALV shell will have to be viewed 'long term'. Hopefully a nice cash cow to boot!
Looking forward to it. Long term holding for me. The potential we have here could be amazing.
Quint. I see you’ve been here for a while. Can I ask your opinion on a few things please. I’ve been here since early salv. The portage is a bonus. A huge one in my eyes. One which I intend to hold long term. I’ve been researching portage and it’s daily trading in its shares. It’s daily average is very small less than 50k shares a day, just a few thousand pounds worth a day. Even with that it’s spread is often as high as 30% and it will move 10% in either direction with just £1k worth of shares traded. I really expected it to rise a decent amount after the salva deal and it taking on its new portfolio of very promising companies. I’ve read a few of the Canadian chat sites and quite a few holders of portage will say they put orders in at the start of the trading day to sell as little as 10k shares and at the close quite often the brokers have only managed to self half if any. It’s so incredibly illiquid. I haven’t received my shares yet like most. I’m keeping long term. But what about those wanting to sell their bonus shares when they can ? Is it Juvenescence that you expect to RTO. here ? Why would you think it needs portage shares to be higher ? Appreciate your views.
Hi letts, sure but please note that this notification is for ii clients; other providers may give different advice.
SALVARX GROUP PLC ORD GBP0.025
Event Type
De-Listing
Description
Possible Suspension of Trading
Expected suspension date: 8th July 2019
Market affected: Alternative Investment Market (AIM)
Please be informed that Salvarx Group plc has announced that following the Disposal and the Demerger, the Company has ceased to own, control or conduct all, or substantially all, of its existing trading business activities or assets. It is therefore classified as an AIM Rule 15 cash shell and as such is required to make an acquisition or acquisitions which constitutes a reverse takeover under AIM Rule 14 on or before the date falling six months from completion of the Disposal and the Demerger, failing which the Company`s Ordinary Shares would then be suspended from trading on AIM pursuant to AIM Rule 40.
Admission to trading on AIM would be cancelled six months from the date of suspension should the reason for the suspension not have been rectified. If the stock is delisted, we will endeavour to provide you with a share certificate in relation to your holding, should one be issued by the company in the future.
ISA Customers
Due to restrictions imposed on ISA accounts, unlisted shares are not considered a qualifying investment. Certificates received in respect of ISA accounts will no longer be held within the tax efficient wrapper so will lose any tax benefits.
SIPP, Pension Trading Account, and Junior ISA customers
Unlisted shares are not considered a qualifying investment for these accounts and withdrawals are not permitted from these products. Consequently holders may wish to liquidate any holdings prior to a delisting becoming effective.
"Jarcon; Just in case you have not noticed, there is another 'Corporate Action Notice' regarding SALV (shell)"
Hi there, Jesterman!
Could you post that "Corporate Action Notice" regarding SALV (shell), please? Or, maybe provide a link. Many thanks!
I brought my salv shares in my Trading account just in case there may be issues with 'Non Qualifying Stocks' within my ISA; could be a bit of a grey area, but I am not really sure.
Jarcon; Just in case you have not noticed, there is another 'Corporate Action Notice' regarding SALV (shell)
The line of Portage stock has landed in my SIPP, but not yet in the ISA. Why I do not know.
Yes, agreed!
1971bod
HL say "We are unable to provide a recent price for this stock online and, as a result, it is not included in the totals here. For an up-to-date price, please contact us."
My impression is it will remain that way ie no on-line trading.
QF (a 1963bod)
Hi Jarcon, you are welcome and everyone, I have joined the party. GLA
jesterman - my thanks, hadn't looked at the corporate actions page,
it does indeed suggest a waiting period:
"The Company has advised that the Portage Biotech shares will be dispatched to us in certificated form, on or after the 15th January 2019. Upon receipt of the certificates, we will arrange to deposit the these with our International custodian to allow you to trade your new shares freely. However, please note that cross bordering the Portage Biotech shares may take up to 6 weeks from receipt of the certificates."
The "up to 6 weeks from receipt" part is clearly the key here.
thanks again Jesterman.
I am with ii to and am showing the same; Look at your 'corporate actions', seems to suggest some delay before we can trade. Plus if you go on the CSE (Canadian stock exchange) It looks like the shares are currently suspended?
https://thecse.com/en/listings/life-sciences/portage-biotech-inc
Same with HL and Halifax is a no show as they take a while longer. Not long now
My Portage shares are showing in my portfolio (I'm with II) however they presently have a value of 0.00 showing - anyone else having a similar issue?
thanks.
Jarcon
Link: https://www.salvarx.io/about/about-salvarx-group.html
The Company’s shareholding in Portage (which amounted to 56,657,531 shares immediately following the Disposal and the Demerger) may increase by up to 40,692,697 shares to the extent that certain options remain unexercised by 5.00 p.m. on 8 January 2020.
56,657,531 + 40,692,697 = 97,350,228
US$10,708,525.08 divided by 1.3 (American Dollars) = £8,237,326
Actually, Quint, you're right! The US$0.11 (11cents) is American Dollars and not Canadian Dollars! Apologies!!! Portage is listed on the American Stock Exchange as "PTGE.F". It also seems to have a Canadian listing as "PBT.U" in Toronto! My mistake - sorry! But, I think I'm right about the number of shares. Does anybody else have an opinion about the number of shares they think SalvaRx have?
Portage Biotech Inc. address:
47, Avenue Road,
Suite 2000,
Toronto,
Ontario, M5R 2G3
CANADA
Portage Biotech Inc. is on the Toronto Exchange not the New York Exchange! Therefore, you have to multiply 97,350,228 by 11 cents (Canadian) - which = C$10,708,525.08. This equates to £6,189,898.8901734 or, effectively, £6,189,898. At least, I think that's right.
Quint, the number of shares that SalvaRx have is, according to their own information, and to that on the Portage Biotech Inc. website, 97,350,228 shares divided by 757,943,784 shares - which = 12.84399055% (almost 13%).