RE: ISA vs SIPP26 Jan 2019 15:17
Hi letts, sure but please note that this notification is for ii clients; other providers may give different advice.
SALVARX GROUP PLC ORD GBP0.025
Event Type
De-Listing
Description
Possible Suspension of Trading
Expected suspension date: 8th July 2019
Market affected: Alternative Investment Market (AIM)
Please be informed that Salvarx Group plc has announced that following the Disposal and the Demerger, the Company has ceased to own, control or conduct all, or substantially all, of its existing trading business activities or assets. It is therefore classified as an AIM Rule 15 cash shell and as such is required to make an acquisition or acquisitions which constitutes a reverse takeover under AIM Rule 14 on or before the date falling six months from completion of the Disposal and the Demerger, failing which the Company`s Ordinary Shares would then be suspended from trading on AIM pursuant to AIM Rule 40.
Admission to trading on AIM would be cancelled six months from the date of suspension should the reason for the suspension not have been rectified. If the stock is delisted, we will endeavour to provide you with a share certificate in relation to your holding, should one be issued by the company in the future.
ISA Customers
Due to restrictions imposed on ISA accounts, unlisted shares are not considered a qualifying investment. Certificates received in respect of ISA accounts will no longer be held within the tax efficient wrapper so will lose any tax benefits.
SIPP, Pension Trading Account, and Junior ISA customers
Unlisted shares are not considered a qualifying investment for these accounts and withdrawals are not permitted from these products. Consequently holders may wish to liquidate any holdings prior to a delisting becoming effective.