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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| GW Pharm. | GWP | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 735.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 735.00 | 735.00 |
| Top Posts |
|---|
Posted at 01/12/2016 16:56 by wengerb Could anyone recommend to me another company in which I might invest?I'm looking for another company run by arrogant, self-serving directors that will be able to increase its current share price by a factor of 18 between now and May 2020. That's the performance achieved by the current arrogant, self-serving crew over the last three and a half years. I find it hard to find the words to express how glad I'll be to detach good old Greenwich Biosciences Inc. from the carping company so many of the UK investors who do little but whinge about GWP and do so in the light of a degree of success almost unprecedented among the UK biotech sector. Anyone care to tell me of another such UK pharma success? A case could be made for Glaxo and maybe for Shire and they haven't done too badly since their origins with a single new drug. |
Posted at 30/11/2016 19:08 by cfb2 A number of vicious uncrossing trades in extended hours. Some investors got robbed by being forced to sell at 725p. |
Posted at 24/11/2016 13:10 by liquidkid This is from GWP:"the time is right to reduce the complexity and expense of a dual listing. leading to a further reduction in the proportion of shares held and traded through AIM. "Prior to that decision the BOD considered transfer from AIM to the Official List of the UK Listing Authority and to trading on the LSE's main market." A few facts that are quite pertinent to this. - Investors buying GWP did not pay Stamp Duty. Yet by having a dual listing i.e. listed on NASDAQ technicaly should have. The waiving of stamp duty encourages investors to invest in AIM -The 1 year average daily volume in the UK was a healthy 477,000 shares a day. It has increased over the year to 650,000 now over the last month. -It is cheap and easy to list on AIM - Companies only have to pay an annual fee of £6,500 IMO, The BOD have shown total and utter contempt for UK investors. |
Posted at 11/11/2016 18:44 by pj84 Finally received the corporate action details from Hargreaves Lansdown (copy below for info.) and have completed a very simple process to elect to convert my shares to ADR's and will await the conversion and glad to be able to retain my holding in my SIPP."What is happening? The Board of GW Pharmaceuticals plc has announced proposals to cancel the Company’s Ordinary Shares from trading on AIM (Alternative Investment Market). It is expected that the Company’s Shares will be delisted with effect from the close of business on 2 December 2016. Why is this happening? The Company has announced “The Company’s Ordinary Shares were admitted to trading on AIM in 2001. AIM provided GW with important access to capital and share trading liquidity during the formative phase of its business, enabling the Company to invest in and develop the cannabinoid technology platform upon which its pipeline of future medicines relies. In May 2013, the Company completed a successful initial public offering (or IPO) of ADRs on NASDAQ, with the result that dual-listed status was achieved. The liquidity of trading of GW’s Ordinary Shares was immediately enhanced by the NASDAQ listing and demand from US investors has led to a rapid increase in the proportion of GW’s Ordinary Shares that are held as ADRs and traded via NASDAQ. At the date of this letter 78% of Ordinary Shares are held in ADR form and over 94% of shares traded in the last six months were traded in the form of ADRs on NASDAQ. “The Directors believe that if the Ordinary Shares were to continue to be admitted to trading on AIM the trend towards the holding of Ordinary Shares in ADR form and growth in the proportion of trading in ADR form on NASDAQ would continue, leading to a further reduction in the proportion of Ordinary Shares traded on AIM. The Directors believe that a continuation of the decline in the proportion of shares traded on AIM would be likely to lead to a decrease in the liquidity of AIM trading and that it would therefore be advantageous for all Shareholders to combine trading volumes from both markets onto a single exchange. The Directors further believe that the AIM Delisting will: “Further enhance the liquidity of trading in the Company’s ADRs by combining on NASDAQ the volume of transactions from both NASDAQ and AIM. “Reduce the risks and costs associated with compliance with two different sets of market regulations and administrative practices. “Simplify day-to-day administration, allowing management to focus more time on the Group’s core business activities at this important stage of its development; “Reduce administrative expenses associated with maintaining the AIM quotation. “Accordingly, the Directors believe that it is no longer in the best interests of the Company or its Shareholders as a whole for the Company to retain its AIM quotation.” (Source: Company Announcement). What action do I need to take? If you wish to sell your holding before the proposed listing cancellation you must do so before 4.30pm 2 December 2016. The trade will be placed in accordance with our terms and conditions and subject to the standard Stockbrokers commission rates. To sell these Shares please phone us on 0117 980 9800 or deal online. Please note that if the cash consideration of a sale does not exceed the commission payable then the sale will not be executed. Please note that although Hargreaves Lansdown will endeavor to sell your Shares it may not be possible to sell all, or even any, of your Shares if a market for the Shares no longer exists. If you wish to maintain your holding of Ordinary Shares you need take no action. You should note that following the cancellation you may have difficulty selling this investment at a reasonable price and, in some circumstances, it may be impossible to sell it at any price. Important information for holders of GW Pharmaceuticals plc Shares within a Stocks & Shares ISA Please note, under HMRC rules unlisted Shares are not eligible to be held within a Stocks & Shares ISA. As a result any holding of GW Pharmaceuticals plc Shares within a Vantage Stocks & Shares ISA will need to be removed within 30 days of the effective date of the delisting (3 January 2017). Can I convert my Ordinary Shares to ADRs? Shareholders have the option to convert their Ordinary Shares to ADRs (American Depository Receipts) that will continue to trade on NASDAQ in the US. If you wish to convert your Ordinary Shares into ADRs you will need to give an instruction before our deadline of noon Tuesday 22 November 2016. You can give an instruction to convert your Shares online at www.hl.co.uk. Please log in to your account and click on your Vantage SIPP in the ‘My Accounts’ section of our website. Please select the dark blue Corporate Actions Icon alongside GW Pharmaceuticals plc Shares and follow the instructions provided. Alternatively you can give an instruction over the telephone on 0117 900 9000 after confirmation of your master password. Each ADR represents 12 GW Pharmaceuticals Ordinary Shares, as such the conversion has to take place in multiples of 12 and it is not possible to receive a fraction of an ADR. Any holdings not in multiples of 12 will receive a fractional cash payment. In order to complete the conversion the new ADRs will initially be deposited into our DTC account with our third party custodian, HSBC. They will then be transferred to our account with CREST (the UK Settlement System) allowing us to trade and settle the ADRs in the UK. Please note there may be a delay before we are able to trade the ADRs while we transfer the ADRs to CREST. Trades in ADRS will be settled in US Dollars in accordance with our Overseas Stockbroking terms and conditions. Please note, under HMRC rules the ADRs will be unable to be held within a Stocks & Shares ISA as the underlying holding will not be listed on a recognised stock exchange. As a result any holding of GW Pharmaceuticals plc ADRs within a Vantage Stocks & Shares ISA will need to be removed within 30 days of the conversion. Other information and warnings Should you have any queries relating to the Delisting please contact us on 0117 980 9912. Please note, we can provide factual assistance but cannot provide advice about which option you should choose. We hope you are satisfied with our service. If you would like to set up new products, or transfer other assets you hold to Hargreaves Lansdown please go to www.hl.co.uk or call our Investment Helpdesk on 0117 900 9000." |
Posted at 09/11/2016 12:27 by future financier It says "per share" - and I have now done some more Googling -"Here is an example of how the ADR fee is charged: Recently Continental AG(CTTAY) paid out a dividend. Let’s see how much an investor loses out to dividend taxes and ADR fees. Ticker: Continental AG(CTTAY) Gross Dividend: $0.86 Germany Dividend Withholding Tax = $0.22 ADR Fee = $0.02 per share So Final Net Dividend Payable to ADR holder = $0.62 (i.e. $0.86-($0.22+0.02)). So at 2 cents per share, an investor holding 500 shares would be charged $10 in ADR fees. This fee can be deducted from the dividend payments or can be deducted from a customer’s account depending on the brokerage. Key points to remember: ADR fees is not avoidable. In most cases, ADR fees may not tax deductible as investment expenses. If ADR fees is charged by the custodian to ADR holders, the brokerage will pass on this fee directly to a client’s account. If an ADR does not pay a dividend then this fee will deducted from the client’s cash account. The ADR fee is charged only once per year. Though investing in ADRs costs an American investor more in expenses than investing in US stocks such as this ADR fee, investors should not avoid ADRs and stick with only domestic stocks. The benefits of international diversification, potential higher dividend yields, etc. far outweigh the costs involved with owing ADR including the small ADR fees." Having read that I suspect that it actually means "per ADR" but it is really unclear - also no idea what the charge levied by the Depositary bank (?Citibank) is for GWP. But my guess is that if you hold say 1200 shares (£10,000) then the fee for 100 ADRs will be around $2 - but it would be nice to know for sure. There must be somebody at GWP who could answer this immediately. Grrrrr! |
Posted at 27/10/2016 12:52 by future financier masingi - I do not believe there is any HMRC restriction on holding an ADR in a SIPP - only the ISA where the lack of a listing for the Ords is relevant. In theory (from HMRC perspective) almost anything can go into a SIPP (other than Buy to Let properties!) whereas there are tight restrictions on ISA investments. It is purely a broker restriction that MAY cause a problem for SIPP investors. |
Posted at 27/10/2016 10:55 by masingi I just emailed him this:Dear Simon, See below. Just a heads-up for you, but I would value your opinion. I spoke to you briefly on the phone this morning regarding the GWP AIM delisting making ARDs ineligible to be held in a SIPP or ISA. (Sample) advice received is given below from TD Waterhouse, although it is the same from every ISA/SIPP provider. As you can imagine, investors are apoplectic about this situation. This is unlikely to improve when their stock is sold for peanuts on the 25th November! As PR advisor, there is bit of a sh!t storm coming your way. Best regards and good luck! “....HMRC do not allow shares to be held in an ISA that do not have an underlying investment that is traded on a recognised exchange. Following it's delisting from AIM, the GW Pharmaceuticals ORDs will represent the underlying ordinary stock which will not be listed. Though the NASDAQ exchange is indeed recognised by HMRC, the underlying holding will be unlisted and as a result the ADRs will not be ISA eligible, as is our current understanding. It is our policy to apply the same requirement to any securities held within our SIPP accounts....” – TD Waterhouse |
Posted at 21/10/2016 11:10 by joosepi Halifax but see the following:How to Buy ADRs: You can buy ADRs through most online brokers. A seamless transaction with straight forward commissions offers peace of mind over duties or other transaction costs. Trade Settlement: There are no hassles with currency conversion or duty costs when buying ADRs. U.S. investors also enjoy familiar settlement and trade clearance. Institutional and retail investors alike may buy ADRs to cut transaction expenses. |
Posted at 06/10/2016 20:21 by 123prezzie altom. I understand that the Nasdaq listing doesn't disqualify GWP's IHT position because the US deals in ADRs, not straightforward ordinary shares.I see Zaks Mir on procative investors is forecasting £10. A bit pessimistic, surely? |
Posted at 05/10/2016 12:58 by zlotini I was about to post this view – written in a word document- and then saw Random’s post. But I decided to post it anyway.Greetings, especially to long-time posters and those I have met personally. I echo FF’s sentiments about the thread. Indeed, thanks to the superb contributions of several posters, I have been able to remain in touch, well-informed, about GWP’s progress and development without doing any research/work myself. It has worked well for me even though I only have a fraction of the holding I once had – given the current share price I can still reasonably happily celebrate the company’s seemingly great success. After becoming deliriously greedy, acknowledgement to nodding, I find I have become somewhat puzzled (deliriously confused most probably) about the recent takeover stuff. This has prompted me to do a little digging which could well be wide of the mark because I have missed what is staring me in the face. I would much appreciate some enlightenment/guidan I can find no RNS about the supposed M&A reported interest, or for that matter the appointment of Morgan Stanley as an advisor, particularly related to this new development. Personally, I think management is correct to say nothing about rumoured/reported takeover interest from several companies. Assuming this is the case (rumoured) no official announcement/acknowl I assume that Morgan Stanley was appointed as M&A advisor. Is it possible that this appointment was, perhaps, just good business practice rather than because specific approaches have been made to the company? By the way, Jim Cramer, the CNBC madman, a couple of weeks ago suggested that Gilead should acquire GWP. On the share price front, is there really a big premium already built into the price because of heightened takeover interest? Only now is the share price back to previous US$ highs. Of course, it is much past its previous high in sterling terms, thanks to the pound’s Brexit plunge. But back then, investors still did not have positive confirmation of positive trial results. Yes, US biotech shares have been a bit out of favour this year. On the other hand, the sector managed a rise of around 13%, one of the best performing sectors in the US market, in the last quarter despite Mylan’s share price dive. Moreover, no that one can necessarily rely on them, several analysts have set their price targets a bit higher than the current price and that is without accounting for a takeover premium. |
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