Member Info for Timelard

I sold Friday. Settlement day is next Tuesday. Don't know why it takes 2 working days. As MB says I will transfer the money to my ISA and buy them back. I think one has to pay 2 commissions but a small price to pay if this comes good enough to trouble my CGT allowance.

Yes I sold them from my fund and share account in order to bed and ISA

They don't seem to have a service at present, just some instructions. I am doing it manually.

Thought it would never happen. Doing a bed and ISA so hopefully the share price won't soar before Tuesday.

The CGO shares have finally landed in my HL accounts

Well done RG. They don't like it up 'em!

I will very happy when this is all over and we get our shares on HL because I won't have to listen to RG, CBB and MB griping... Just kidding. I am waiting too. Can't be long now. I have been able to trade mine on ii for a week. I have a paltry amount in there but happy to wait for something just below CGT before selling. Lately I feel like I'm playing Monopoly and keep landing on Chance. This week one of my endowments which paid out in 2020 from 22 years ago wrote to tell me they'd underpaid me and here's a cheque for £big plus interest and apologies. Pass Go and collect ££££. Makes a nice change.

Hi JT, It's all right for you! I'm assuming you have a share certificate. Those of us with nominee account holdings are still waiting for a value to appear (HL have added a number of shares but no value, ii haven't done diddly). Best of luck with it and please let us know what happens.

hi RG, someone posted a reply they recieved from HL on the SBLM board which goes some way towards explaining their lack of action, but doesn't make for encouraging reading IMO

Thanks for your query.

The Contango shares you hold in your HL Fund & Share account were issued as a share certificate. We are now actively chasing Contango's registrar to receive these certificates. You do not need to take any action. You will not receive your holding in Contango in the form of a share certificate, once HL's holding in Contango has been confirmed we will reflect the holding in your account.

Communications regarding this haven't been issued out just yet in advance of a demerger taking place. The Contango shares issued here are different than the ordinary shares you hold in your HL Stocks & Shares ISA which is why you wouldn't be able to deal with these. However we will be writing out soon to clients involved about the next step and how we will be proceeding with these shares. I apologise we don't have further updates as of right now.

I hope this has been of assistance. If you have any other questions, please get back to me.

Hi RG33

Sorry but the chat with HMRC was regarding another matter. Regarding CGT, we should be so lucky :) I understand the current allowance is £12500 and any gains above that are taxed at 20% on shares depending on other income and other losses you can set off against the gain.

When HL finally pull their finger out I will still do a bed and isa just in case.

ok thanks. patience required then. more patience...

I am going to hang onto mine for now, will be in slight profit at current prices. I've been in this for longer than I can remember so a bit more waiting won't hurt. This was one of a number of 'fire and forget' shares I own which has come good lately. I talked HMRC yesterday and they told me I didn't have to pay £1600 I thought I did. It's all coming up Lardy. Maybe I'll buy a lottery ticket...or some more vinyl... or pay my gas bill...

HI Charlie, I am not seeing that in my ii account, where did you find it?

Thanks for the heads up CBB. Mine are also showing in HL fund and share and SIPP. They have not landed in ii yet. Nearly time for a bed and isa.

I was beginning to think this would never happen. Thanks to all (MB, CBB, RG et al) who pushed the brokers in the right direction. Good things appear to be in the pipeline so depending on when we get them it might be worth waiting for full production, more offtakes, gold etc etc. GLA

Thanks Paladin

I was just about to post that too

That is exactly my situation. Held in nominee account at HL and ii. I have secure messaged HL, no reply yet. Messaged ii also and they are contacting the company for more info. I will post if anything comes of that.

Update on outstanding legacy matters

Our claim against PwC proceeds in the High Court with the trial expected to begin in January 2023. The claim against PwC is for damages or equitable compensation of £63m plus interest and costs. Our claim against our former auditor, KPMG, in respect of its audit of the Group's accounts for the year ended 31 December 2013 has been filed and KPMG's defence recently received. This matter is not expected to go to trial before 2024.

Our appeal for the recovery of historic VAT paid in the ingenie business was heard by the First Tier VAT Tribunal in December 2021 and we were notified in April 2022 of the Tribunal's judgement in favour of HMRC. This was, of course, disappointing but having taken advice, we are now appealing that decision to the Upper Tribunal. Finally, our Canadian subsidiary's claim against Aviva Canada is ongoing and is expected to go to trial in H2 2023.

2022 outlook

We will look to prosecute our remaining litigation assets for the optimal return for shareholders. Central costs will continue to be carefully managed at reduced levels consistent with the needs of the organisation.

Once again, we would like to thank our shareholders for their continuing patience whilst we work to realise optimal value from our remaining assets.

I found this while poking around yesterday

Chairman and CEO's Report

During the year the Group has significantly progressed the realisation of its litigation assets including the formal filing of its claim against its former auditors, KPMG LLP ("KPMG"). This is in addition to continued work in respect of the claim filed during 2020 against PricewaterhouseCoopers LLP ("PwC") and older claims against Aviva Canada Inc. ("Aviva Canada") and HMRC.

Now all trading businesses have been disposed our plan remains optimum resolution of legacy matters and then to return cash to shareholders.

The ongoing impact of COVID-19 in the UK during 2021 resulted in the target revenues of the disposed ingenie business falling short of the required target for additional consideration. However, the timing of the sales proved fortuitous, and the Group was spared the financing requirement which would likely have been associated with ownership of this business through this difficult period.

On 30 April 2021, we listed on the Aquis Stock Exchange to continue to provide a trading facility on a regulated market. We subsequently delisted from AIM as required by the AIM Rules.

Notification from the Serious Fraud Office ("SFO") of their decision to cease its remaining investigation means we can confidently now draw a line under this part of the Company's history with no material outstanding litigation against the Group. We move forward in a strong position to realise maximum shareholder value from the four contingent assets we are pursuing.

During 2021, we were the target of a mandatory offer from one of the Company's major shareholders. The offer was not hostile but the board recommended the rejection of the offer and counteroffer, and this was overwhelmingly supported by our shareholders. We would like to thank our shareholders for their support and this endorsement of our approach to obtaining value from our remaining assets. We plan to make further returns to shareholders as, and when, the outcome to our litigation becomes clearer and final resolution more imminent.

Apologies