Member Info for adv11

Agree with everything Matt says. Although I was one of the first to leave Jarvis, transferring my ISA and taking a big loss on my shares, I found that my ISA transferred quickly, except that two investments were rejected and ended up back with Jarvis. I am now in a long queue to arrange another date for the transfer, as is my wife's account.

Hopefully Laura will stop trying to cover up genuine posts now. Of course, Laura probably isn't "Laura" at all. I was advised by a group of rampers years ago that it's best to register a female name, as male investors are so gullible.

BP p.l.c. (the "Company") announces that it is to commence a share buyback programme to repurchase ordinary shares in the capital of the Company (the "Programme").

The purpose of the Programme is to reduce the issued share capital of the Company.

The maximum amount allocated to the Programme is around $750 million for a period up to and including 1 August 2025.

The Programme will be carried out on the London Stock Exchange and/or Cboe (UK) and will be effected within certain pre-set parameters.

My last message on this board hopefully, as an investor and customer of Jarvis.

This board is now infested with scam artists, rampers, call them what you will. I usually see this on the AIM discussions for the most dubious companies. They are here to make money, which they will do by you losing money.

There will be no final dividend, the company is closing.

There will be no £11m. because so many Jarvis customers are arranging their own transfers. They will not want to pay a new broker £9.99 a month for something that was free. Clients are not happy about the way they have been treated. Long term investors have lost almost all of their investment.

Finally, one thing I often came across on AIM boards was that "paid rampers" often use a female name because men trust advice from a female. Do you really know who you are listening to ? Anonymous names from anonymous people.

Farewell JIM, dear friend.

Thanks @Caravan - I can't believe I was sat here at my computer when the news broke and didn't sell Jim immediately. I did actually believe they were better than all this.

I have my main ISA with I-web (Halifax) which is £5 per trade and no platform fees. I have my more recent ISA's and my wife's with Jarvis because I-web are so picky about what they will allow. I have ORIT, GRID and GSEO with Jarvis, which aren't allowed with I-web, they also banned TFIF and SMIF and many others at one time. I'm going to ask I-web what they will do if I transfer the Jarvis accounts to them. Sure I won't get a straight answer though.

The £11 m. won't happen, because most Jarvis account holders won't want to switch to a broker with monthly fees. The are selling our accounts to raise money for shareholders, mainly themselves, but most of us will switch before they get chance. Double whammy for me, as a large shareholder and my and my wife's ISAs affected. That would be almost £20 a month payments to the new broker.

The share price showing seems to be based on the few small sales on the bell.

Actual price showing now is 94.70 - 96.00 (GBX) at 11:53:07 on Market (LSE)

So not much has changed, although the valuation on my account is based at 93.1p

As @Trouts says. No tax, no costs. These costs mislead a lot of people. It's all down to the FCA.

I'll copy a bit from Trustnet -

The House of Lords has lambasted the Financial Conduct Authority (FCA) for misinterpreting European Union regulations on cost disclosure requirements for investment trusts.

Misleading costs are discouraging investors from putting as much as £7bn a year into investment trusts – money that some of the more domestically-focussed trusts could channel into the UK economy.

This has resulted in a material loss of permanent investment into the capital markets via equity trusts and the acquisition of UK real assets by foreign investors at significantly reduced prices, the House of Lords financial services regulation committee wrote in a letter to FCA chief executive Nikhil Rathi, published today.

The letter criticised the FCA’s interpretation of MiFID (Markets in Financial Instruments Directive) and PRIIPs (Packaged Retail Investment and Insurance-based Products). These regulations are compelling investment trusts to report their costs in the same format as open-ended funds.

For investors in open-ended funds, managers’ fees eat into the returns they receive. That is not the case for listed investment companies, where costs do not detract from the share price gain or loss that investors experience. Disclosing costs for trusts in the same way as funds risks confusing investors and makes trusts appear more expensive than they actually are.

“This has created a falsely elevated number for aggregated ongoing cost forecasts,” the committee’s letter stated, “giving misleading information to investors and indicating that costs/expenses are to be deducted annually from shareholdings.”

And already it is rectified ----

The Company has today declared a first interim dividend in respect of the year 1 May 2024 to 30 April 2025 of 3.25p per share (2024: 3.15p). This dividend represents an increase of 3.2% compared to the equivalent amount declared in the previous year.

The interim dividend of 3.25p per Ordinary share will be paid on 15 November 2024 to the holders of Ordinary shares on the register as at 25 October 2024, with an ex-dividend date of 24 October 2024.

It is the Board's intention that this payment will be the first of four equal core dividend payments of 3.25p each, being a total of 13.00p, for the year ending 30 April 2025. It is intended that the timing of the remaining three dividend payments will be in line with previous years, with the second interim dividend expected to be paid in January 2025.

Thanks Jb

No, I've been looking but can't find any announcement about it. Not a great company for keeping investors informed. Hopefully we will get two dividends fairly close together.... soon.

So reading yet again, it will be February 2025 before they release the proceeds - which sounds like it won't be quite the full amount.

----

If the Disposal becomes unconditional, it is the intention of the Board to seek Shareholder approval for the voluntary liquidation of the Company with a view to distributing the Company's net assets to Shareholders as soon as reasonably practicable. It is anticipated that the liquidators will be in a position to make an initial distribution of substantially all of the net assets of the Company in February 2025, being approximately two months after the expected date of liquidation/delisting.

Been in since IPO - averaged up, averaged down, but will still be losing on this deal, even with dividends included.

REF - isn't payment expected Mid November ? Not March 2025, or have I misread? --

Anticipated Completion Date (subject to the Conditions being satisfied or waived) Early to mid-November 2024

I received a lengthy document and form through the post from Jarvis at the end of last week.

It has to be returned by 19th, but as the details won't be released until that day, it's a bit of a shot in the dark.

Best way forward seems to be to tender most of my shares and see what happens.

I believe you have to have previously registered with Halifax/Iweb to receive these e.mails for voting.

Divi announcement was 29th. August .....

The Board of Directors of the Company has declared an interim dividend of 1.89 pence per share for the three-month period to 30 June 2024. The dividend will be paid on 3 October 2024 to shareholders on the register as at 6 September 2024. The ex-dividend date is 5 September 2024.

I guess the four were all down as indirect owners of the estate of FE Grant, which gave a false holding position. Now some of the estate shares have been distributed, the holdings are showing a truer position, but still not correct. Each of the four TR1's has "additional information" as below -

MEJ Grant has recently received 1,752,585 shares as a distribution from the late F E Grant's estate. This has been combined with his existing holding of 55,612 shares giving a total of directly owned shares of 1,808,197

MEJ Grant remains one of the four executors of the estate of F E Grant and therefore has indirect ownership over a further 1,001,478 shares which remain in the estate for the time being.

I was ending with an 8.... so sold a couple of hundred pounds worth today to get back to a round number. Almost broke even, but not quite of course.

After 10 years, I have just sold my final 50,000 (in two lots) giving a total loss of £6,293.65, with £125 in dividends to come. Can't see anything to stay for now. May as well put the final £7600 to something nice for retirement.

I would like to say it's been fun..... but ......

The one positive is that I can delete UJO from all my watchlists and will hopefully never come across the company, or some of the posters, ever again. Have a great Summer everyone.

Letter received from Jarvis with instructions. Sign, e.mail back to them, and fund ISA. Or ring and transfer allocation to normal account.

I meant to say, as the offer in showing in my ISA, and that is where the cash would have to come from, I presume the new shares would be staying in my ISA.