Loss of value via De-listing30 Dec 2022 08:30
I have just received a message via HL. I hold 40,000 common shares of Dev Clever in my SIPP. HMRC rules state that the shares will be either be held within the SIPP until they are delisted, which we know if not the intention of the BOD. If nil value for those shares is then confirmed, the shares are removed from the SIPP. It looks as though therefore that if nil value for common shares is confirmed we lose our money as private investors. Looks as though we as private investors have been shafted by the BOD of Dev Clever. I will look into a class action as a possibility but it may be fruitless. The BOD led us on a merry tale with talk of a new prospectus being prepared. It smacks of corporate dishonesty .
To clarify, you can't transfer your shareholding from your HL SIPP into your HL Fund & Share Account.
Let's see if Dev Clever come up with a solution.