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Thank you Winecellar.
I am W so at the end of the alphabet. Send them a secure message. They replied to mine after the money was sent to my ISA cash account.
By the way I received mine last week from Eqi.
Surname wouldn't be Malaprop would it?
winesellar could please tell me what your surname begins with as i am still waiting for my return and i am thinking are they sending it out in first come first severed thank you
Teela, nice post. Most of the posters on Blueshare are holding on to the end, myself included. ATB
Good post Teela
I'm not well researched here, but this was Evil's piece from 1 June fwiw which sketched a "valuation" of the legacy assets, and is the only attempt I've seen. I'm minded to hold for the time being.
https://masterinvestor.co.uk/evil-diaries/evil-knievil-sympathy-for-the-devil/?mc_cid=7d48b8f5f1&mc_eid=340be254f4
Another reason as to why I topped up also on the 1st July , with our 1st payback :)
It is my view that as Watchstone winds down and returns cash to shareholders that most investors are overlooking a possible source of value.
On 29th August 2019 an RNS entitled "Counterclaim against Slater & Gordon (UK)1 Ltd" was published.
The RNS related to the conduct of Slater & Gordon through their agent Greenville & Co together with Price Waterhouse Coopers who were acting for Watchstone in regard to the sale of PSD.
The RNS points out:
"...an illicit back channel that Greenhill & Co ("Greenhill"), a corporate finance adviser to S&G, procured during the period of due diligence and negotiation with Watchstone's then group restructuring and technical accounting adviser, PricewaterhouseCoopers ("PwC")...”
" ...thereby gaining an unfair advantage in those negotiations, which it exploited in order to purchase the PSD at a lower price than it would otherwise have had to pay..."
" ...and did cause, Watchstone to suffer significant loss..."
The sale of PSD was for £634(?) million. The question then arises: in relation to £634,000,000 what is a "significant" loss? My guess would be 10%. It might be higher, it might be lower.
Should Watchstone instigate proceedings to retrieve £6.34m and be successful, this would we equate to 143p per share.
I raised this issue with Mr Borson and he kindly replied:
”...we stated in Mr Rose's update: "During the course of the S&G litigation we identified claims against other third parties which we are pursuing."
This remains the position and I am not able to say more than this at this stage. If a claim is commenced formally it will be publicly announced. Any decision we take to launch legal actions comes after a detailed consideration of the merits of the claim and the costs associated with such action. Rest assured where the claim is meritorious and valuable we will take whatever action is required to recover losses or damage.
Please keep an eye on RNS's for updates on our remaining legacy matters.”
Interpret this as you wish. I've made a small top up.
HSBC invest direct account is now showing the money has been paid in ??
I'm going to continue to hold this after the next return... I see this as my best dog with a promise of a good return later on.... Top of the bottom drawer ;)
Is the increase in price anything to do with people re-investign their cash back ? I have been so focussed on the returns i have taken my eye of the ball. Must admit have been keeping an eye on my other dog PFD which has turned into a bit of a pedigree in the last 3 months. After 2nd cash return what are people views on this business prospects ?
I posted on here on 21st and 26th April that HSBC said payment had been cancelled, and still no retraction from them, not is the money in my account.
I'll give it until Monday and chase them. I use HSBC for everything and this is first time I potentially have a problem with them.
Got my “dividend” into my ISA cash balance with Equiniti just before noon today. Not great but about par for the course with this type of transaction on this platform.
I contacted HSBC this afternoon and all they could say is they have nothing pending for tomorrow and it could take up to 30 days ! I will keep you updated .
Anybody else using HSBC invest direct? Still not heard anything ??
Thanks Grumps, and I hope you're well. Cheque has just arrived in the post now so all good here:)
Almost certainly postal delays: its a nightmare for us locally. The cheques were posted as confirmed by Stefan Borson elsewhere.
Almost certainly postal delays: its a nightmare for us locally. The cheques were posted as confirmed by Stefan Borson elsewhere.
Has anyone without an online trading account recieved thier cheque in the post yet? I hold my own certificate and ive yet to recieve anything yet.
Equiniti....still nothing.
Anyone looking for a trading platform take note.
with halifax no probs in 1st thing this morning , When I ring i have no problem with halifax . Best account I have had.
HSBC has sent me nothing ! Not even news of anything pending !
Yep , ii deposited my £1.10 per share yesterday as promised by wtg all Put back in to get my 40p per share for the end of July :)
I've just received mine :)