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I had this issue with GWP a few years back. I hold VRP in my Best Invest SIPP but also have one with You Invest - they are happy to hold USA traded stocks. I just need Best Invest to convert them to ADR and then I will transfer them over to You Invest. A pain in the bottom but if they do what GWP did I will be very happy
charles stanley direct said exactly the same
I think the VRP price mirrors the VRNA price, if you divide the VRNA price by 8 you get the VRP price
Why is the share price so low ion IG ?
Will it? VRNA might but can't see this moving too much.
Hope it does as might be the easy way out of this mess.
This should rocket a bit when Nasdaq opens @ 2.30pm. Vgla
Morning,
I have just emailed IG after a google search suggested they were the best fro trading US shares. No live chat available, massive wait on the phone so emailed them. Hoping naively that they actually are best for trading in the US and just not a paid advert!
Will let you know response if, as, and when it arrives.
Not happy to wait for Halifax and cannot trade VRNA in any of my accounts with them, Share Dealer, Share Builder or my Shares Isa - so one assumes unless they have to do it over the phone it might not be possible.
Yes but due to their merger with interactive investor they are not taking on any new clients at the share centre is my understanding. But happy if anyone knows different.
Further to my last.
I've just opened a sharedealing account with Bank of Scotland as I don't feel it safe to hang around awaiting decisions from X-O.
My wife transferred shares in GWPH from X-O when they listed on NASDAQ to a Bank of Scotland account several years ago.
The GWPH shares were ADRs whereas VRP are talking about ADSs.
Could someone explain the difference - if there is one?!
That sounded a bit vague Thunderoad. Does that imply that they'll convert your holdings to ADS without any effort on your part?
I spoke to X-O (Jarvis I.M.) a little while ago and didn't get a clear answer.
They didn't seem to know anything about the VRP move and then said I should wait for a mail communication advising my options. This is going to eat into the 20 days.
I fail to understand why they couldn't say over the phone whether or not they could handle NASDAQ ADS.
I've been invested here for 11 years at an average price over £4.00. Just when this share looks ready to skyrocket and give me a chance to pull back some of my losses, they pull this stroke.
Not a happy bunny.
It won't be the first time I've been shat upon by an AIM listed company though.
Interesting Thunderroad,
I rang them this morning -the share centre explained the situation to them and was told by a rather disinterested dealer to wait for their corporate actions team to write to us.
Somewhat inconclusively!
I queried this with the Share Centre yesterday and this was their response. -
'Thank you for your call this morning,
I would like to confirm that we do trade on Nasdaq so despite Verona Pharma Plc ceasing trading on the alternative investment market (AIM), you will still be able to trade in our platform. Therefore, you may not receive notification from us concerning the de-list.'
Yes I rang them yesterday - they said they don’t trade from that platform for nasdaq and that I should await corporate actions
It is an atrocious thing they have done to a UK founded company - low lives
Tomson13 - worried that although Halifax say you can move these into your ISA, the Halifax ISA doesn't let you buy vrna currently. Seems unlikely to me unless they are going to do something to change this. Waiting 2 weeks to find out isn't the best either.
I use Hargreaves, I expect if enough people want to trade VRNA they will make an arrangement, that is their business after all.
Just to add, Summit Therapeutics went through same steps not so long ago (delisting from AIM move to NASDAQ). If anyone went through that process would be good to know how you did it.
Didn't see that coming from our friends at Verona Pharma! I have a Self Select ISA with Barclays Smart Investors, anyone heard from them (Barclays) re: their position on converting these shares? Anyone any pointers re: trading platforms which deals in VRNA as a plan B?
Afternoon all fellow long term sufferers!
Just finished my second call with Halifax, I hold my VRP in my ISA with them. They are 90% sure that they will be able to transfer my shares, and I will still be able to trade them through my Halifax account. Apparently I need to look out for notification through a Corporate Action within the next two weeks.
Its the 10% that concerns me, so I am thinking I need to find a UK broker that will 100% trade in VRNA and set up an account with them just in case I need to transfer them.
Halifax are saying that i don't actually need to transfer them as per note on RNS, however I can't imagine the ball ache, additional cost and time frame of trying to sell them once delisted.
I will of course loose the benefit of having them in my ISA, but there is NO WAY i have held them for over 15 years to let this beat me, especially with the finish line potentially in sight.
Anyone know of a UK broker who will definitely deal?
Cheers,
Tom
oops, 60p a share, looking at offer price not bid, rookie mistake
After the 50 to 1 share consolidation I only have around 600 shares so it is not a massive issue for me, but I guess it may be for others with a bigger stake here. If it is too complicated I may just take the 65p a share.
Tomsk2020. Talk to ii if your current broker can't handle the transaction. I used to be with TDW and moved to Lloyds when ii took over. I held quite a few certificates back then. I believe ii still use the old TDW platform with all it's overseas markets capabilities.
I will talk to them later and see what they say.
I agree. To handle certificates, any holder will need to set up a nominee account first then transfer the certificates into the new account. Then they will need to get the broker to do a transfer to VRNA. The holder will also have to sign a W8-BEN IRS disclosure form. The remaining 19 working days is going to be really tight.
tomsk 2020 let the holders know when you find a broker that will do it. The big boys won't
I have some VRP shares in certificated form. I think I will convert them to VRNA and wait until the company is bought out. Worked for Pace when they became Arris which was then bought for cash. Had these so long I have given up hope of getting anything back anyway.