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Hi all,
Is there a Dividend Payment on 29th April 2024?
If so, from the RNS today - is there additional payment to be paid out to shareholders end of May.
“ DIVIDENDS ON 11 PER CENT AND 5.5 PER CENT CUMULATIVE PREFERENCE SHARES FOR THE HALF YEAR TO 31 MARCH 2024
“The Directors have declared half-yearly dividends on the 11 per cent and the 5.5 per cent cumulative preference shares. Unless otherwise resolved by the Board, the dividends will be paid on 31 May 2024 at the rate of 5.5 per cent and 2.75 per cent respectively, and will be paid to those preference shareholders on the register at the close of business on 2 May 2024.”
Also, how do you acquire preference shares? To become a preference shareholder?
Genuine queries as never held any bank shares before other than these at recent lows.
TIA.
That’s very true Bertram they are all plundered at will. That’s why hope everyone using all that is available from spouse to those they can trust to use their allowances to reduce how much you have to pay to the Gov/Taxman.
GLA
Hi TopCatz - you’re welcome.
My interpretation is that we only have shares in Microsalt Inc. and so no value to Microsalt Ltd which is what is was floated (via reverse merger).
So as you rightly pointed - hopefully after a year there is improvement and they can convert like for like with SP higher.
Good luck and ATB. ;)
the following is a q1 2024 update from microventures regarding your investment in microsalt.
dear microsalt investors,
you may already be aware that microsalt plc filed and completed an ipo on the aim market of the london stock exchange in february of this year. the company raised £3.1 million at a £18.5 valuation.
microsalt, inc. sold preferred series seed shares via a reg cf offering that concluded in 2022; you invested in microsalt inc. during this offering. it is our understanding that microsalt inc. did a reverse merger into microsalt ltd., which is the entity that went public on the london stock exchange as microsalt plc under the ticker "salt".
you can read more about the ipo here and here.
we have asked the company for additional information and thus far have only received the following:
the ************** was initiated by microsalt ltd., the largest shareholder of microsalt inc., which owned 77.83% of microsalt inc. at the time of the offer. the ************** offer was made by microsalt ltd. to certain other large shareholders of microsalt inc., who were all accredited investors at the time of the offer. microsalt inc. was and is not a party to the ************** agreement, it is between microsalt ltd. and the other shareholders. there is no agreement nor requirement for microsalt ltd. to make the offer to all the other shareholders of microsalt inc. notwithstanding that there was no obligation to make an offer to all the other shareholders of microsalt inc.
the terms of the exchange were determined by microsalt ltd. and offered to several of the larger shareholders, who confirmed that they were accredited investors, and some of them accepted the offer.
the offer is now closed and therefore the terms of the previous offer and the pro forma cap table is not relevant. after the consummation of the transaction, microsalt ltd. will own between 87% and 91% of microsalt inc. the remaining shareholders of microsalt inc. will continue to own the exact amount of shares that they owned when they bought the shares and the rights and percentage of ownership in microsalt inc. will in no way change. the shareholders of microsalt inc. will have the same liquidity in microsalt inc. that it had prior to the exchange.
most microsalt inc. reg cf investors were not part of the ipo, but a few investors have told us that they had the opportunity to convert their series seed preferred shares in the ipo. microventures received shares in microsalt inc. as part of the offering. we did not elect to convert due to limited clarity from the microsalt group and what that outcome would be for all investors on our platform. since august of last year, we have requested details from the company on what this ipo means for your investment as well as liquidity options in the future. to date, they have not provided any details. we will share any information from the company if and when received.
you may already be aware that microsalt plc filed and completed an ipo on the aim market of the london stock exchange in february of this year. the company raised £3.1 million at a £18.5 valuation.
microsalt, inc. sold preferred series seed shares via a reg cf offering that concluded in 2022; you invested in microsalt inc. during this offering. it is our understanding that microsalt inc. did a reverse merger into microsalt ltd., which is the entity that went public on the london stock exchange as microsalt plc under the ticker “salt”.
you can read more about the ipo here and here.
we have asked the company for additional information and thus far have only received the following:
the ************** was initiated by microsalt ltd., the largest shareholder of microsalt inc., which owned 77.83% of microsalt inc. at the time of the offer. the ************** offer was made by microsalt ltd. to certain other large shareholders of microsalt inc., who were all accredited investors at the time of the offer. microsalt inc. was and is not a party to the ************** agreement, it is between microsalt ltd. and the other shareholders. there is no agreement nor requirement for microsalt ltd. to make the offer to all the other shareholders of microsalt inc. notwithstanding that there was no obligation to make an offer to all the other shareholders of microsalt inc.
the terms of the exchange were determined by microsalt ltd. and offered to several of the larger shareholders, who confirmed that they were accredited investors, and some of them accepted the offer. the offer is now closed and therefore the terms of the previous offer and the pro forma cap table is not relevant. after the consummation of the transaction, microsalt ltd. will own between 87% and 91% of microsalt inc. the remaining shareholders of microsalt inc. will continue to own the exact amount of shares that they owned when they bought the shares and the rights and percentage of ownership in microsalt inc. will in no way change. the shareholders of microsalt inc. will have the same liquidity in microsalt inc. that it had prior to the exchange.
most microsalt inc. reg cf investors were not part of the ipo, but a few investors have told us that they had the opportunity to convert their series seed preferred shares in the ipo. microventures received shares in microsalt inc. as part of the offering. we did not elect to convert due to limited clarity from the microsalt group and what that outcome would be for all investors on our platform. since august of last year, we have requested details from the company on what this ipo means for your investment as well as liquidity options in the future. to date, they have not provided any details. we will share any information from the company if and when received.
In the meantime, if you would like to request additional information, you can reach out to the company directly:
Max Inglis – minglis@tekcapital.com
Konrad Dabrowski – kdabrowski@tekcapital.com
Clifford Gross – cgross@tekcapital.com
Rick Guiney – rguiney@microsaltinc.com
Zachary Sobel – zsobel@egsllp.com
David Selengut – selengut@sgsllp.com
- The MicroVentures Team
Cheers MJS1 - thought it was bed and ISA method. And as uncleBuck57 - mentioned this can incur CGT if over the limit….just thought from Scallywag comment he had a way to sell them all and not incur any tax at all.
Cheers for the clarification response ;)
Much appreciated.
ATB :)
@Scallywag3: How do you transfer Shares from an ordinary account to a ISA account? Do you have to sell them first and then buy back into an ISA? If so, does that trigger tax CGT or a loss that you can use? Or is there another way without incurring any tax liabilities?
Perhaps drop is because BT has pleaded guilty to 7 offences relating to unsafe implementation of traffic management measures in a prosecution.
Also, OFCOM has found Open breached Quality of Service (QoS) standards as they failed to meet 3 of it’s QoS standards in the leased lines and whole local access markets during 2022/2023 - not sure what the repercussions this has on BT group.
Just what I found from having a quick search, other than could just be selling up for Easter lol.
GLA & ATB.
The UK government has reiterated plans to sell its stake in NatWest to the general public “at the earliest opportunity”.
Chancellor Jeremy Hunt said the Treasury wanted to “create opportunities for a new generation of retail investors to engage with public markets”.
Hunt added: “So we will proceed with a retail sale for part of the government’s remaining NatWest shares this summer at the earliest opportunity, subject to supportive market conditions and value for money.”
A previous update from UK Government Investments last month said the retail offer could even start as early as June.
We’ll continue to keep you updated on:
When the government confirms timings on selling NatWest to retail investors
How you can expect to take part in the retail share offer
- excerpt from HL email.