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Thought there would have been an RNS today as the 31st was suppose to be long stop date and too let us know what's going on ??
The launch of Celadon certainly got the juices going. Hope April brings some positive certainty to our own launch.
Celadon pharmaceuticals lists tomorrow (formerly Summerway capital) hopefully removes sticking points in the sector??
Radio silence until merger complete !
Barry …. Many thanks for sharing your emails :)
+1 to hope so. However I find it odd that HD haven't tweeted anything since this hit the rocks in January. Appreciate they can't "promise" anything in terms of the listing, but not sure why they've suddenly stopped talking about their aspirations.
I certainly hope so, Magoo.
'am pleased to say that we are making good progress but we will not be able to complete before 31 March and we will then have to extend the long stop date, one more time and both parties are happy to do that'
Am I clutching at straws when I read 'one more time' and not again, does this mean that this will be the final long stop with the emphasis on 'one more' - and the deal should be done and the FCA pull their finger out and approve this ?
Thanks
sure hope this isn't another Worthington
On 16 Mar 2022, at 11:33, Neil wrote:
>
> Hi Peter,
> I'm a current shareholder and am very much hoping to hear some positive news before the 31st March. I wonder if you could tell me what the likelihood is of the deal completing before this date, and were it not to whether the long stop date could be pushed further back?
> Many thanks
> Neil Addison
On Wed, Mar 16, 2022 at 11:48 AM Peter Jay
Hi Neil
Thank you for your email.
It is frustrating for all that the process has taken so long but this has been down to issues at the FCA and not to any problems with the transaction or the parties.
I am pleased to say that we are making good progress but we will not be able to complete before 31 March and we will then have to extend the long stop date, one more time and both parties are happy to do that.
Kind regards
Peter
On 16 Mar 2022, at 12:09, Neil wrote:
Thank you for the reply Peter. It's frustrating for all of us but I'm glad to hear that both parties remain committed. Are you able to advise when the long stop date would be moved to?
Thanks once again.
Kind regards
Neil
We need time to complete the FCA approval process and it is difficult to estimate how long that will take because they are not a private sector professional firm. I suggest that another 8 weeks would cover their additional scrutiny and then the time for convening the EGM so I think another 6 weeks should be sufficient. I cannot of course guarantee that as you will understand.
Kind regards
Peter
well it would be if I uploaded it properly!!!
This should be of interest. My son emailed Peter this morning.
WhatsApp Image 2022-03-16 at 12.06.34 PM.jpeg
HSBC wrote to me to say they would seek to put them on certificate and send to me. Assume HL will either hold at no value or certificate them and send to you
I still have some shares in these -can i just leave them in my HL account or do i need to do something with them
wonder what will happen here
Thanks Allan.
The next few weeks will prove to be “interesting” in terms of the Company but also world-wide markets.
Kind regards
Peter
On 20 Feb 2022, at 12:24, wrote:
Hi Peter
Thank you for your prompt reply – wishing you success.
Thank you
Allan
This has been my best performing share this week...
Never had the chance to say that before!!
Hi Allan
Thank you for your email. I am confident that UK SPAC will listin the RTO with Hellenic Dynamics subject to the FCA approving the re-adsmission. I no of no reason why they should not give approval but the decision remains in their hands.
Kind regards
Peter
Thanks for your help guys.
A J Bell have confirmed mine is not a " flexible" ISA and therefore I've lost the whole grand allowance. Thanks Uk Spac / FCA !!!
If your ISA is flexible you can use the transfer amount to reinvest Isa wise, if not isn't, you can't.
That's how I read it anyway.
Narada, your ISA allowance isn’t lost until April.
https://www.gov.uk/individual-savings-accounts/withdrawing-your-money
The rules mean you can re-invest.
It won’t be the original investment amount, just the value that was transferred out.
:-)
Yes - Mine are in an ISA too.
I'm afraid you have lost the whole £1000 allowance.
Does anyone know the ISA position with this share? AJ Bell have told me it's no longer ISA eligible so I've had to transfer it to my Dealing Account. I bought £ 1 000 of the share as an ISA on 4 March 2021 under Mountfield Group Plc. AJ Bell have the value currently as £ 548 being the value when it de listed. Have I lost that £ 1 000 worth of ISA allowance or can I transfer it to this years allowance. For example if it's worth was £ 548 and my 2021/2022 ISA allowance is £ 20 000 can I buy £ 20 548 worth of ISA's or basically have I lost the whole £ 1 000 allowance I used purchasing this stock in March last year?
Any help from you guys would be much appreciated. I'm sure I can't be the only one this has affected in respect of ISA's.
Thanks for sharing...this was a punt for me and has gone tits up. Guess I'll just see what happens just in case it does delist rather than contacting the new broker
I got the same message from HL today and asked if this meant I had lost my money permanently.
They sent this reply:
Thank you for your message.
To confirm currently your investment is of no worth as it is not currently trading, this may change in future if the stock relists however we cannot speculate on if this will happen or a time frame. The other possibility is if the company declares nil value there may be a pay out to investors however this is not guaranteed and we are unable to speculate on this.
I hope this has been of assistance. If you have any other questions, please get back to me.
this is on the JP Jenkins website:
"UK SPAC plc (“UK SPAC” or “the Company”) is a company the share capital of which is traded on AIM, a member of the London Stock Exchange. UK SPAC was previously a specialist construction company under the name of “Mountfield Group Plc. Having disposed of its trading businesses on 3 March 2021 the Company’s is currently an AIM Rule 15 Cash Shell following a placing of £3.1m of its Ordinary Shares that was undertaken by its brokers, Peterhouse Capital Limited, simultaneously with the disposals mentioned above.
As a cash shell the Company is required to make an acquisition or acquisitions which constitute a reverse takeover under AIM Rule 14 within six months of 3 March 2121 or be re-admitted to trading on AIM as an investing company under the AIM Rules (which would require the raising of at least £6m) failing which the Company’s Ordinary Shares would be suspended from trading on AIM.
The Directors of SPAC are currently sourcing a company that would constitute a reverse take-over and also provide a return for its shareholders."
currently showing 0.21 SP.