RE: Delisting3 Nov 2022 09:47
I would regard the situation as similar to a company going into voluntary liquidation [most definitely not a liquidation due to solvency issues]. The shares will probably still be displayed on your account at book cost but nil value. It is very important to read the corporate action statement from the broker, especially if held in an ISA, as they would have to be transferred out. I'm not sure if they are planning to cancel the CREST facility, but if they are, they will sent paper certificates to be held by your broker.
It also appears that there are no plans to set up a matched bargain facility, so it will be impossible monetise your holding at will.
The plan is to liquidate the holding over a medium term period [18-24 months]. As they do this, they should make returns of capital, which of course will be credited to your account as and when.
In my opinion there is massive value on offer here at the current SP for the patient investor [just look at the PDMR dealings]. I think a 30p total return is a possibility, but I would still be more than happy with double the current SP [9p offer] as I write.
I suspect a lot of people hold these in an ISA and are worried about what happens after delisting so have become forced sellers.