Member Info for Lozenj

Following on from yesterday's post, further research indicates that most SIPPS (I've yet to find one who will accept delisted stocks) will not allow you to keep delisted stock.

Once it's delisted, the certificates remain in the nominee (sipp) account name - not yours. This means you can do effectively nothing with these shares until hmrc dictate they are valueless. Bear in mind this also means that, from what i read elsewhere, until the delisted stock is defined as valueless and can be written off your account, you

cannot close your sipp account. Your sipp fees will continue until this can be done.

I've sold the lot today. Just a heads up to anyone in the same SIPP boat.

Thanks folks. SIPPS simply don't support Matched Bargain Facility meaning you can do little. From what I can fathom, only compulsory corp actions will actioned. one cannot take part in any potential voluntary corporate actions of the type everyone is hoping for at this stage - ie tender offer, etc. I don't have s&s isa holding but it looks similar.

Not looking for advice - more if anyone confirm the following?

I still have a holding of these shares in my SIPP. I have been told that post-delist, I'll still hold paper shares but in the nominee account name meaning they can't even be traded over the counter - they will effectively be worthless without access to even voting rights. And since they can't be transferred in specie to a trading account, the only option is to sell? Is this correct?

At the risk of sounding cynical, Sir Nigel's purchase of 1.24m shares at a knockdown price of £31k was bound to rally the market - even days from the stock being delisted. Will Sir Nigel keep his shareholding beyond the final day of trading on Friday?

Shareholders will not know until after the delisting - a bit late for us to follow suit.

As much as the xf73 product appears promising, I have bitten the bullet and sold up.

This company has not been well managed and, as a result, there seems to a lack of trust from shareholders and potential partners alike. Despite his credentials, Mr Tovey has not helped.