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Cindy888, miraculous ability to post whilst asleep and dreaming..
I think shorts are supposed to ‘fess up via an agent portal. Basically they are free and clear the way this is playing out. (Perhaps you missed 1984’s post last week that the agent must be kept secret to protect them from being inundated ‘village idiots’..Surely that description would include short positions?
I said I’d stay asleep until 5 weeks had elapsed (or someone woke me up following broker contact) but just opened one eye to see Helx postulating honest decent shareholders haven’t been contacted because the agents are busy ‘chasing shorts’.Back to sleep now..
Look at trades another way. MMs can’t create shares and it is unlikely they would go short to sell shares at an all time low, also unlikely they would have a stock of hundreds of thousands of pounds worth bought in at prices above the current sell.
The market will be fairly balanced overall so any anomalies which show up, such as one sell in a whole days trading just point to the marker of ‘mid price’ against which the trades show red or blue, being completely inaccurate and arbitrary.
1984, thanks for the reasoned response. Seems to be what I was suggesting would be the case if it was done sequentially. Platforms first for the nominees, then paper, then publish the agent with the portal details.
Wake me up when anyone has confirmation of step 1 being under way. I’ll happily keep quiet until after 5 weeks from 13/11..
I don’t need to Google what a portal is thank you. Perhaps I do need to ask ChatGPT how to access the agent portal if details of the agent are secret to avoid them being overwhelmed by ‘village idiots’ and they cannot proactively contact the shareholder as Cloudtag apparently did not update the register when furnished with updated address details.
More than just address change, there will be name change and potentially death of shareholders which you would expect a bona fide company to keep on top of when contacted via their published contact details. And still not answering at what point paper holders get the opportunity to contact the agents as the agents cannot contact them with an old address.
Anyway, time will tell, delivery trumps everything.
You talk a good game 1984, any idea why Amit didn’t engage agents well before now to get the thing oven ready as it has been supposedly nailed on for 6 months? It will be a tall order to complete payments for all in the stated time scale of 4 to 5 weeks from 13/11 if it is sequential with the nominee holders on the platforms sorted first and then the paper holders contacted. Any timescale for how this will play out if the object is to avoid the agents being contacted unnecessarily by those with nominee holdings before agent details get into the public domain by any direct contact with paper holders. And then there is the possibility the agent details may get revealed by a broker employee speaking out of turn. If you are right it would have been far better for Amit to state that nominees will be sorted out first and then the process move to paper holders. Even something like the brokers accepting cash from Cloudtag will presumably have regulatory and compliance issues to check out due to the company status and prevailing legislation, it’s not exactly like getting the half yearly dividend lump sum from LLOY to dish out..
Looks like Amit has arranged for the agent to write out to shareholders at their old address with the process for supplying the new one..
The previous message by Africanskies asking for help as the company has discontinued professional management of the shareholders, the company itself obviously can’t be r5ed to manage its own register and the agents are top secret shows this company is far from normal. If it were there would be nothing to see for ex holders who would indeed move on as they do with other former investments.
What’s the point of stating a new thread with a ‘-RE’ and subject line of an existing thread havegun, too simple to reply on the existing?
Good explanatory letter about divis on US stocks. Still doesn’t answer the basic question of your Cloudtag shares not being a US but a St Vincent based stock.
The FTSE100 is very much geared to world wide business activity, those companies take care of the tax aspects of those foreign earnings, overseas subsidiary company disposals etc and UK owners of shares in those UK listed companies receive UK dividends.
* St Vincent not Cayman Island.
Can anyone explain why it is not Cloudtag that is responsible for completing this paperwork as the Cayman Island registered entity who has received a $50M payment for a sale of licensing rights to a US company. I would have expected the distribution to then come from Cloudtag with tax requirements following whatever protocol applies to the jurisdiction where Cloudtag is based and onward to the final tax treatment according to the shareholders country of residence.
Most definitely US tax in involved (unless Amit is having a laugh), but the form for a foreign national to complete is intended to enable the proceeds to be paid without US tax being deducted - as the proceeds will need to be declared in the UK for those resident there. (As I understand it).
09:11 The weeks free entertainment kicks off with a great opener..
It’s better than that Pikey, if it’s legit you get a payout from the licensing and IP sale… AND you still own your Cloudtag shares as the company itself is not being sold (according to the releases anyway).
So the buyer who wants the DaaP so much they are supposedly paying more to acquire it doesn’t intend to do anything with it for well over a year after the original ‘all processes complete buyer to announce’ update if you add 8 months from now?
Stevielad, it will be a bit like Chinese whispers at the brokers, someone gets a query to answer about Cloudtag and asks around their colleagues - gets told so and so knows what’s happening but that person has been informed by someone who Googled Cloudtag earlier. I got shot down by a few when trying to point out simple things like references to ‘corporate action’ didn’t mean contact had been received.
Anyone give me odds on; “The agents duly commenced the administrative work which would have led to the contacting of shareholders for distribution of $50m from the licensing deal. As a consequence of the ongoing discussions for enhancing the proceeds from the sale of the DaaP it is now necessary to pause the distribution pending an alteration to the terms of both deals which will be announced to shareholders in due course. Strict NDA etc etc”?