QRT.L Share Price (QRT)

I got the message below from Interactive Investor today. But it does not really make sense since shareholder approval has already been given at the December 14 meeting. Has anyone yet received a corporate action notice inviting them to elect for the tender offer? Or will that only come after the delisting?

StockQUARTO GROUP INC COM USD0.10

Event TypeDe-Listing

DescriptionDelisting

Effective date: 18th January 2024

Market affected: London Stock Exchange

Trading restrictions: The last day we will be supporting trading will be 17th January 2024

The Quarto Group Inc has announced its intention to cancel its listing of Ordinary shares from trading on the London Stock Exchange. This is expected to become effective on 18th January 2024, subject to shareholder approval at the meeting to be held on 14th December 2023.

As the shares will no longer be trading on a supported stock exchange you may choose to sell your holding prior to our last day of trading listed above or transfer your holding to another broker.

If you do not wish to sell or transfer, following the delisting 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 an ISA-qualifying investment. Therefore, we will arrange to move your Quarto Group plc shares to a linked trading account, opening one on your behalf if you do not already have one. If that is not possible, we may attempt to withdraw the shares into certificated form, reregistering them into your own name. Certificates received in respect of ISA accounts will no longer be held within the tax efficient wrapper, so will lose any tax benefits.

SIPP, 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.

Just a quick FYI for anyone that may be interested.

I attended the shareholder meeting on the 14th and asked the following question…

‘I understand that the RNS has to include the requisite legal caveats, however if we were talking informally, would you be telling shareholders that the tender offer is going ahead but for an act of God?’

The answer I was given was an unequivocal 'yes, that is the case’

Novice here, but does the delisting mean we have to sell our shares if they are currently in an ISA?

Up 13% today, on no news and not particularly heavy volume. Not complaining: another ~5p and I'll (finally) be back in profit.

Andrea Giunti Lombardo has increased his holding to 22%.
He is on the board of Giunti Editore which is the second largest publishing house in Italy. So high possibility of a bid. GLA.