Member Info for johnpwh

Aha jam we meet again!
Agree with you on this one. I think GF are well aware that our delightful ex muckers in the EU would resist a takeover of ZNWD. I see GF as sellers rather than buyers. Not sure how they will achieve that but, having a notifiable interest, they cant do it by stealth!

Until the moment BCN leaves the ISA any gains will be non taxable. Similarly if you were unfortunate to have a loss then that loss wouldn't be usable.
As far as I can see Matthew you are correct, once it drops out the historic cost of your BCN shares going forward would be 67.5p - its a bit like putting shares into an ISA from a non ISA account at the start of a tax year - your don't effortlessly slide them in, you sell and repurchase, so it is the price at that point that SP is crucial for CGT.
Not sure exactly what you are saying foz, I think the ZNWD shares will be irrelevant and they will stay in the ISA. As a dividend paid while BCN was quoted, and thus qualifying for an ISA, then they are outside taxation. Furthermore the historic cost of the BCN shares when they went into the ISA is also irrelevant.
Matthew, being a nerdy pedant swot (like wot I is) I would correct one thing you say. In non tax efficient wrapper (ISA or SIPP) all gains and losses are subject to CGT so always taxable. Its just if the net of all your gains and losses exceed that tax years CGT allowance that you have any tax to pay (but I think that's what you meant).

Dont agree Bob. They are the legal owners, rendering the beneficial owners helpless. I'd argue they are not discharging their responsibilities. Maybe you could argue that you could sell and take them to the ombudsman for the difference? Better than potentially being stuck with illiquid shares. As everyone should have the ZNWD shares and BCN is still 67p then I guess people who are caught like this may as well sell? I'm not recommending that by the way, just thinking out loud

Sound like we agree then Mr Frogster.
Can see how it can be anything but IT rather than CGT as it became payable before the takeover is paid out, is a dividend, and is also being paid to (potentially) ongoing BCN shareholders.

Matthew
Was with you until you talked about income tax. If BCN is not in a tax wrapper (SIPP, ISA) then the value of the ZNWD shares received today cannot be ignored for tax. Question is how.
My opinion is that being a dividend the value of the ZNWD shared you acquired today (ie at the price at market open this morning) should be taxed as income in 2021/2.
If, and I doubt this , it is subject to CGT then I guess its possible that you could simply use a zero acquisition cost for your ZNWD going forward, so it will be caught on eventual disposal. Alternatively (ie still taxed as CGT rather than income tax) you would need to apportion your BCN acquisition cost between BCN and ZNWD in the ratio of the value of your BCN shares at 67.5p and the value of your ZNWD shares at market open today (and then your acquisition cost of ZNWD going forward will be the SP at market open today).
You could get a definitive answer from a personal (rather than corporate) tax consultant but that will cost - this is unusual so I'm really not convinced an accountant would know. Or you could ring HMRC, they are quite helpful

That they are wrong Sharealot. Cut and paste the RNS into your mail and tell them that their Corporate Actions team should do their job. Failing that there is a telephone number in one of the recent RNSs (cant remember which) for a something called Link who is there to sort these things out. I must admit I didn't have much luck with Link but what I was trying to do was far more odd (I wanted to know if I could buy more BCN and vote a second time having already voted. Your problem is far more normal).

Hope you are right

typo BCN hold no ZNWD shares

As they say in the Godfather. Its business, not personal. If we had GFs BOD not useless Secker we wouldn't be in this mess

Matthew and anyone else with brokers saying you've missed the bus. Contact them, tell them they are wrong, cross reference todays RNS and tell them you will hold them responsible for financial loss you suffer. Make sure this is in writing, by Email or the transcript of a webchat that you make sure you keep. Then you have evidence for the Ombudsman if necessary - which is free to use incidentally.
Mr C
No mystery with ZNWD shares, it was a dividend. Hence everyone holding shares (on 17th?) get the distribution. It also means BCN hold no BCN shares, those relating to GFs shares are now held by GF themselves.

Awaymag
Lucky you! I'm still waiting.
To be honest, despite like you hoping for more here, at the end of the day a profit is a profit. I have plenty of losses in my investing/gambling history. I hasten to add that the usage of investing/gambling both refer to the Stock Market. I don't do betting as such ever, I'm far too boring.
Others will disagree I'm sure, but I do feel a sense of relief. Sonora is not somewhere I'd go on my holidays with the threat of crime there, which is apparently real from my research due in part from its proximity to the US border. I have no doubt that GF will manage that risk through the sort of force that western nations are unable to. Plus inevitable cost escalation in the project and potential delays - when you are a decrepit old ****er like me, well, you really don't years of worry.
Might go and buy that Caterham 7 now, relive the time in my 20s when I was young and gorgeous. Trouble is I might not fit in one now.

Hi Mr C
No, I didn't see it either , but then again I wasn't looking as at the time I wasn't a ZNWD S/H.
I bought a holding a couple of days back at 13.8p so glad I didn't! Bit like the BCN issue in May (or April), that RNS sneaked in about 6pm from memory, well after the Market close. Again I think those who missed it benefitted.
Think I'm right in saying that the Zinwald fundraise was undersubscribed or barely subscribed?
Hopefully when Secker resigns or is kicked off the ZNWD BOD the SP there will leap! It certainly should if there is a god.

MANJ
Snap, snap, snap!!! Hopeless aren't they?

Sharealot
No to be honest but provided you got it in, and have received confirmation, then you will be fine. Just have to wait I'm afraid, like the rest of us. Some have their ZNWD shares already in their accounts, I haven't as yet - but then again my broker is always slow

Hi foz. What do you think GF will do with their ZNWD holding, which I think is 8.5% ish?

Dave
Think everyone her is pretty disillusioned. Been an active little board the past year, feel I almost know some people!
I'm pretty angry about what's happened, now I've got shares in Zinwald and guess who's on the Board as non exec? The rat who sold BCN out. Now BCN has ceased to be a (30%) shareholder I sincerely hope he'll get his P45

Bannor, dave
The quote from the GFL offer RNS is, to be fair, a disclaimer. It doesn't necessarily imply that is the intention, but it does help to cover them against future disgruntled BCN shareholders.
However dave - 'Is it possible for our shares to be in an unsellable state with no dividend ever paid?'. Yes, its possible, of course it is.

Serendipity
Sorry you are right. I said yesterday that BCN now only hold 8.5%, but of course being a dividend that will now be held by Ganfeng directly. Cant see Ganfeng holding them as, they wont be interested as an investment and I suspect the EU would block them if they attempted a takeover. Might imply a takeover is possible with lots of PIs with small holdings hungry for a quite profit and an 8.5% holder who wants shot?

i suppose you may be right Sultan because I don't have it it front of me.
But I doubt anyone could be forced to give away their rights via a contract like that, especially in respects of a takeover or other very significant corporate actions.

sjb
If you want 67.5p and ZNWD shares you need to forxe T212 to accept on your behalf. The default is not accept.