Member Info for MrMustard

Thanks JJJzac. Unfortunately reading through the HMRC guidance notes the following is stated under the conditions for an allowable loss:
must have carried on its business wholly or mainly in the UK from the time it was incorporated, or 1 year before the shares were issued to you if that is later, until the date of the disposal that results in the loss.
Still worthwhile looking into it further though. I will post when I find out more.

Hi TheEventHorizon,
The situation with IG must be infuriating.
No certificates are available at present whoever your broker is, so when/if they are available again that's when IG must surely get them on your behalf?! Mysquar will have a record of the number of shares held by IG, so the 2 organisations would have to liaise to provide certs. If that day ever arises then you and other account holders would have to demand action. Complaining will always work as they must follow the FCA complaints process.
I suspect that soon II will take the same stance. They told me that the shares will show in my account until such time that they deem them to have zero value. No idea how or if they will arrive at that decision while Mysquar is still trading.
What a mess.

IoM,
That was my conclusion. Even if they were available at this time there would be no advantage of having the paper version.

Why waste even more money, even if it is only £25?! I won't be paying for paper certs until I'm forced to and even then only if I think there is some hope of being worth more than the present value of zero. I've lost £20k so my instinct is to have the certs but it would be utterly pointless at this time.

Seems to me IG is particularly poor at communication with policyholders, however the situation is the same for all those currently without csrtificates: not possible to get a one at the moment but details will be on CREST and MYSQ must also have a record of shares with each nominee account provider. Surely IG and all others have to distribute to all shareholders IF MYSQ survives, there is some share value and they notify nominee account providers accordingly? I suppose at the moment it's pointless having a certificate showing a share of something that has a value of zero, so would be a waste of time for all. The great thing about the Internet is you can have some impact even if the other side of the world. I think my energy would be best served spreading the word about ES.

JTF, that's right, they said no action required and we will be informed of developments. It would be good if you could also call to see if you get the same response. Cheers MM

Petham, I think you're right and my own ignorance in all of this hasn't helped either. I've just got off the phone to II having demanded to speak to someone who knows the answer or I will close my account. They said: details of shareholdings are still held on CREST but are now non-transferrable and in non-certificated form, II awaits further instruction from MYSQ/CREST, will contact shareholders if anything changes, in the event of sale any shareholder value would be received by II and be invested in the relevant nominee account, if cease to be held on CREST II will contact MYSQ and request certificates which will then be distributed to shareholders (for a fee of £42), if deemed to have zero value (I.e. MYSQ is wound-up) then they are removed and that's it. Mini summary, no action is currently required. I feel a bit more comfortable about II's involvement but am also slightly concerned the latest II person may also be talking ******.... Although, what II and others do and don't do is the least of our worries in this sorry state of affairs! GLA

Whoops, been a bell end and not seen all the earlier messages about certificates, purely coincidental that I called II yesterday. II obviously talking nonsense to me and will have to get on to them again. Sounds like a desperate situation with this deadline.

JJJzac, I think you should call II again and see if they give you the same info as they did me. Hopefully it will be the same explanation! Cheers and good luck.

I spoke to II yesterday and was given a very different explanation. I was told that I could have a copy of the certificate for £42 (incl VAT, per product wrapper, I.e. pension and ISA = £84). MYSQ can still remain in an II nominee account while it shows as active on the stock exchange (as opposed to listed). In the event that it ceases to be shown as active and/or has zero value it will be removed by II and policyholders will be notified and could request a certificate. Meanwhile, in the unlikely event that the business is sold and there is shareholder value the proceeds of the sale will go into the cash account with II, remaining in an ISA or pension wrapper, if applicable. I think that £42 is a waste of money as the chance of any value is, imo, very slim, so all the while II is prepared to hold it in a nominee account it may as well stay there. Although it's a very small percentage of my overall loss the last thing I want to do is lose even more.

Chariot Oil & Gas Limited (AIM: CHAR), the Atlantic margins focused oil and gas company, is pleased to announce the completion of the independent Competent Persons Report ("CPR") by Netherland Sewell & Associates Inc. ("NSAI") over the satellite prospects adjacent to the Anchois-1 gas discovery in the Lixus Offshore Licence ("Lixus"), Morocco.



· Upgrade of audited total remaining recoverable resource to be in excess of 1 Tcf for Anchois and its satellite prospects (comprising 2C contingent resources and 2U prospective resources)



· Anchois North confirmed as the low risk priority satellite prospect with 308 Bcf of 2U prospective resources with a probability of geological success of 43%



· Further CPR on additional five prospects in Lixus licence to be completed after the 3D seismic reprocessing project

Sadly, I believe there is no chance whatsoever of seeing a penny again. It's only a matter of time before this version of the company is wound-up. A small unlisted company, 1,000s of miles away in a developing country where corruption is normalised; it couldn't get any worse. Time to move on and put energy into recovering some losses, if possible. IMO. Although I'm still posting on here, so clearly still in the angry phase. I would love to be proven wrong by Chong.

Our problem is that Chong is operating in an environment where corruption and deception are normalized to a significant degree. We need a lot of honesty and integrity from Chong for this to work out. I just don't think that's realistic. I would love him to prove me wrong.

Hi Mandy, MYSQ is just the stock abbreviation and the Company is still MYSQUAR. Whether or not we have lost our thousands is another matter entirely..... I'm working on the assumption that it is gone but will be doing what I can all the time that the legal entity we have shares in still exists (I suspect not for long though, unfortunately). Legal action against the nomad is a long shot but probably our best chance of getting anything back, imo. I don't think they have to notify us of a lot or possibly anything now they are no longer listed. The Board's silence is deafening. Good luck.

8p please.

Cheers

Great work on the FB page FAHP. I believe legal action is the only chance of getting anything back. The FB page is visible to all so I think it needs to be a closed group, with member requests checked to ensure they have a normal FB history. That way Eric or his cronies can’t look at it. Unlike LSE, real names and photos are showm. I appreciate this is added hassle. Once again, superb work for bringing people together so quickly. If we have the will we can pull this off.

Thanks GW.

Does anyone know how long Mysquar will remain on London South East after delisting? We may need a new forum soon! We need to stick together and share information to make the best of what we're left with.

Suspension lifted, nomad in place and Eric sharing a cell with a bunch of psycho gang members would be ideal. Not sure which of those I want the most! In reality, delisted is the most likely situation next week. Suspension lifted and any share price will be a huge Xmas Brucie bonus.

The feedback I had was that firms based in Asia are a specialist area that not all Nomads deal with and the numbers of Asian firms has risen, capacity is limited, governance is crucial due to reputational risk and London Stock Exchange requirements, and the short time frame to appoint a new Nomad makes it very difficult for those that have fallen foul of governance requirements to get their house in order to the extent they can convince a Nomad to take them on.

Taurus, I completely agree with the plus points highlighted, hence why I invested in the first place, but I understand that poor governance and lack of funds are the problems right now. I believe the business will continue due to the potential but not on AIM. I want to be proven wrong!