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I put in transfer application for my SIPP to AJ Bell as can't see my current broker facilitating order matching with Jenkins. I asked for an "investments" transfer. The transfer will take 4-6 weeks by the looks of it, but REDX will be private before that anyway as things appear. Not sure if that could cause an issues for the transfer?
I had a look at Jenkins website last night, but couldn't tell if it's an auction process every few months or more regular ad. hoc buying and selling?
Brokers now connected on an automated basis to the JP Jenkins platform include IG, Jarvis, AJ Bell, Charles Stanley (LSE:CAY), James Sharpe, Hargreaves Lansdown, Investec, Kyte, Rathbone, Ramsey Crookall, Interactive Investor, ITI, Intrinsic, Albert E Sharpe, Killik, Raymond James, FIS Global, Winterflood Securities and Shore Capital.
https://www.proactiveinvestors.co.uk/companies/news/1042401/brokers-flock-to-jp-jenkins-private-liquidy-venue-1042401.html
It does kind of makes sense to me. I noticed some days on here the price would go down by about 7% just because someone flogged £900 worth of shares as liquidity was so low
On your point earlier Moniman, also just noticed the bit below is highlighted in bold. But not sure what real significance/punchline this could have on us?? The US still has regs. Why delist here if you're planning to list in the US fairly soon. Why not just wait till you're ready to list there? Perhaps they just want to keep options open...
However, the composition of the Board is expected to change shortly following the Cancellation and Re-registration and it is expected that such changes will mean that the Company would no longer have its place of central management and control in the United Kingdom for the purposes of the Takeover Code from that time. Therefore, if the Cancellation and Re-registration are approved by Shareholders at the General Meeting and become effective, the Takeover Code will cease to apply to the Company with effect from such changes to the composition of the Board being made.
To me they can argue final decision has still not been taken cause technically it's still pending a shareholder vote....
My guess is worse case scenario with them is you won't be able to trade it until you move it. But it will still show up on the platform as a non tradeable investment.
Big problem with AIM these days is lack of liquidity for loads of shares....
I think the people who've been watching this/invested in for a while know this rally isn't going to age well. The recommendation just means they'll be able to get it started in Manchester. It will be years before the stroke product brings in big revenue. The big question mark for me is if they'll even be a proper funding raising this month, if they can actually get IIs on board again. This will likely trade in the 2s before the month is out, or even worse am afraid.
It wasn't this stock though was it longfell. I confident there's value here that will be realised in the end. It may take some time though...
Moniman, Mine is mainstream. It's held in a SIPP. I just spoke to someone and they seemed very sure it will still be held/can still be held and appear in the SIPP. But as it's important I asked if they can send an email to clarify, which they've agreed to do. So I think they going to double check for me. I'll let you know what they say. Guess it might vary from provider to provider though.
Moniman,
I read this morning from various sources that private shares like this can be held in a SIPP. However, it depends on the provider. The matching order facility may mean that even the mainstream providers allow them to be hold. Worse case scenario I see is I'll need to move to another SIPP provider.
Does anyone know how much Polar still holds? FT data appears to show they still the second largest shareholder, though guessing might be out of date. How much in total is held by proper IIs like Polar by the way? (not in platforms like IG etc)
As far as I can tell there's no need to try and con us. It's already been agreed by the 84% anyway. But they are shareholders as well, so they looking to get value in the end as well out of the shares.
This sounds like the answer actually. I'll have to move the whole SIPP to a more expensive provider by the looks of it!!:
https://www.investorschronicle.co.uk/ideas/2022/06/30/how-to-hold-unquoted-companies-in-your-sipp/
Would appreciate if anyone has an idea about the answer to the SIPP question if they could respond? I not finding the answer online at the moment...
Kind of relevant article:
https://www.hilldickinson.com/insights/articles/delisting-option-and-opportunity-some
Presumably the SIPP provider will have to hold onto the actual share certificate on my behalf??
I don't think they allowed to just send you a share certificate??? Because you not meant to get SIPP holdings until you retire etc? I worried, but can't see how anyone can just confiscate my shares anyway....?
They can't "cancel" your shares. You still own x percent of the company until its bought outright. Remember, the IIs didn't want to invest in a private company at the beginning either. So they looking to make a profit at the end of the day as well.
But my holding (quite large) here is currently held in a SIPP anyway. To be honest, I'm not really sure what happens, or if I need to do anything? I've never experienced this before.