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You set of lying bums!
So angry!
Yes after holding these shares for many, many years and losing over 100k but staying on board (idiot, I know) and just as it looks like it it might be successful we Ujo investors where the company started are cut free. They are good for nothing b......s
Now they feel they no longer need private investors they shaft them. Regrettably I got caught in a different wsy by Paul Mines of BIOME (was Stanelco). Directors of some companies such as this and the aforementioned use these companies as life-style providers. They take large salaries whilst adding little . Then when they more by accident than design look as though things are about to go well, the loyal long term supporters are cut adrift . Charlatans!
Sorry forgot to mention they are with the share centre-suppose that makes it worse!!
Large number of shares between me and my wife invested over the years in a self select ISA - one each for this company!
Apart from being a foolish investor do you have any advice??
Please keep us up to date!
Like many LTH on here feel well and truly stuffed.
It’s been a long ride and now seems like others have been made to walk the plank!
This was my main investment-and I now I know more fool me!
I tried to get an answer from three vrp contact numbers and no one could be bothered to get back. I think they have just realised or as AGBR says they knew exactly what they are doing. But I have spoken to 5 providers for a friend of mine who is on a business trip so cannot do but they all say they do not deal in VRNA not only in sipps but just normal accounts also. Outrageous. I have two more providers getting back to me tomorrow. GLA but start to check this asap.
Managed to get through to Halifax share dealing, didn't know about the delisting but expects a notification to be sent out in next few days. It wasn't clear if vrna shares could be kept in stocks and shares ISA so still not clear on what outcome will be.
Just sounds like the company is forcing us to sell our now useless shares below market value and then either buy them back or take the loss. If we can't transfer these from our stocks and shares ISA using our broker, then it looks like they've misinformed us.
I think ii will be the best option for most people. They are one of the few low cost execution only brokers in the UK that allow their clients to buy/sell small cap US and Canadian stocks. I sold the VRP shares I have in Halifax/Lloyds because I just can't see them allowing VRNA on their platform. You can hold international stocks, but that's limited to large cap US listed companies. I'll have to open an ii trading account specially for small international purchases, which I'm tempted to do. But VRP was held in my ISA, so I'll need to find the £10,000 or so to repurchase my VRP position on ii as VRNA shares.
I will relay this message to my friend but he was under the impression that barclays did not trade any stock whatsoever unless it is listed on one of the london stock exchanges so that suggestion of yours may prove slightly difficult. But at least investors are aware of the potential pitfall of this stock. I have a friend today that sold out at a massive loss as held in a sipp and they could do nothing as cannot be held in sipp so as such rendered pretty worthless if difficult to trade.
SIPP's are a different issue. I'm in an self select ISA. The broker should re register these into ADS before, in my case. probably refusing to hold them.
It should be possible to transfer these onto another platform like ii where you can hold NASDAQ ADS investments if you open an account to take them? Barclays have an agreement with Saxo Capital Markets I doubt if this will help SIPP investors but those with ISA investments might find they can convert into ADS shares and move them to SAXO?
Absolutely missing the main crux. Most investors that I know on here are invested in sipps and if you are in smart investor barclays or i believe hargreaves lansdown also. VRNA ads cannot be held in a sipp so you sell at a loss before the significant returns crystalise or your share become worth didley squat. So BIG BIG blow for many and purposely orchestrated by Verona Pharma imo. But please speak to your sipp advisors but following conversations today that is my opinion and the current lay of the land. Glad to be out but many stitched up like kippers I am afraid. As I should think maany realised this would be a long haul and put it in such investment vehicle. Get advise quickly guys as if every one sellsas this is going to drop more than the 10%.
Yes indeed, as anyone can see, there are more buys than sells!
In the same boat as you T&C. Have all shares in Halifax S&S ISA, and hoping they are going to message us to explain how to move shares over to Nasdaq.
If this keeps falling and VRNA doesn't then might well buy more here as seems like a bargain.
It seems to me that if the price of the shares are pegged to the VRNA price on Nasdaq at 8 AIM shares to 1 ADS then the current drop in price, unless reflected on the Nasdaq is somewhat irrelevant. We should all be looking at how the Nasdaq price performs from now. Am I missing anything here?
If you want to sell now then you are at the mercy of the MM's who have marked us down knowing they will pick up shares due to the inconvenience the whole process of converting leaves us in and some will take the easy option.
I hold my VRP in a S&S ISA which is makes things complicated but I'm still going to convert and keep them because they are worth holding.
AIMHO and DYOR
Apparently you complete a form and send it to the new broker and they will transfer it on your behalf.
I think this could be a shrewd decision by the company if 97% of the shares traded are on the Nasdaq. The FTSE listing is too volatile and not representative of the companies value.
Sounds like broker should handle this for us
If your investment is currently held in electronic form in CREST and managed by a broker, your broker will be able to manage the conversion process for you in accordance with the process set out in Appendix A
Well it means you have to convert to American Depository Shares if you want to continue to hold and sell when it makes sense to do so. (8 CREST shares to one ADS.)
You'll need to talk to your broker and check if they'll do that for you. If you have paper share certificates , I'd imagine contact your broker again.
If you just keep your current shares, you won't have a way to sell them because they won't be listed on AIM any more. To be honest, I don't blame the company. They are a US company now and NASDAQ is a better market which values early stage pharma companies much more fairly. But, VRP AIM holders are seriously inconvenienced now.
There is a deadline here: 20 business days. You can only convert to ADSs while VRP is still listed on AIM.
I think the interesting thing will be the response from the UK brokers.
I hold AIM shares and talked to Lloyds/Halifax earlier. I hope they'll allow me to convert to ADSs (Nasdaq) but have a nasty feeling they'll say that I either have to sell or continue to hold the CREST shares which won't be tradeable.
Lloyds/Halifax say the corporate events department will send out an email to all shareholders. It's a shame because it'll crystalize a loss which I don't want to do and I'm confident this company will come good and make decent money for the remaining shareholders.
To someone who is much more involved in the medical side of business than the financial side would somebody please explain to me what this recent RNS really means!
All or any explanations would be well received. Thank you.
What a kick in the rowlocks.
If we have a C19 success it will be transformational for the sp imo. Lets see what the new year brings!