SQN.L Share Price (SQN)

See you all on the KKVL board.

OK thanks, guess we will just have to see...

I'm no expert, sorry, but SQN, the ordinary shares are continuing as they are with the unknown Icelandic company KKV running things. No dividend for now (or ever ?), which is the one thing people invested for here. We can only presume that major shareholders voted to keep SQN going because it would have little value if broken up. There will be another vote in 12 months time to see if we then break up or continue.
The C Shares, SSIF, which are doing alright, without our bad investments, are being wound up, again, presumably because there is money to be made in their break up.
I'm also in Hardians Wall - HWSL - which is also being wound down. As each loan gets repaid or sold on, money is supposedly returned to shareholders. We had 19 pence per share back in April 2020, and are due another smaller repayment in the next couple of months, The trouble is they have commitments to issue a few top-up loans to the companies already involved with loans. There should be a fair bit more than the share price to get returned - eventually. I made a list of 20 loans Hadrians Wall had made. There were three to Bio-mass operations which ceased trading, although I believe there is equipment to sell on. The 19p we had returned was from a finance loan that was repaid in full, which leaves 16 loans of between £25m. and £0.5m still being repaid, all similar to what SQN has outstanding.

Apologies for my ignorance, however, how does the wind-down work? Are they redeem at NAV? Or fair-value? Is the discontinuation the preferred option for the ordinary?

That's a strange result. We continue for another year and the C shares go into wind-down. As @andsoforth says - not much value left in our company, and the holders of the C shares are getting out while they can.
I hope we now get a bit more input from KKV. Need to get tough to sort this out.