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CHT Constellation Healthcare Technologies

216.00
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Constellation Healthcare Technologies LSE:CHT London Ordinary Share CMN SHS USD0.0001 (DI/REG S)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 216.00 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Constellation Healthcare Share Discussion Threads

Showing 1276 to 1300 of 1400 messages
Chat Pages: 56  55  54  53  52  51  50  49  48  47  46  45  Older
DateSubjectAuthorDiscuss
07/2/2017
17:09
yes very good to hear gargleblaster , happy for you that yours is tucked safely away into a pension. This withholding tax is an absolute pain and I cant quite understand how this whole deal was allowed to be set up as such - unless of course Parmar & co stand to benefit from it in some way? I mean will there be a pool of money set aside for tax that CHT have the benefit of until the payment deadline?
parmared off
07/2/2017
16:44
Good to hear gargleblaster; that means there is hope for me and my wife whose holdings were in a pension like you. Dividend payments were added to our accounts today but in total funds are still short and Selftrade seem up to their old tricks again! Their back office has not responded to the query raised.
scorpione
07/2/2017
15:57
Well - I seem to have received 2 chunks, one based on 217c (exchange rate 0.805146) and one based on 75.4c - giving a total of 292.4c (call it 293p - bar currency fluctuations). This is more than I was expecting and appears to indicate no withholding tax, unless I am missing something, and seems to be in line with what Redleaf told me (see entry 782). Mind you this is in a pension plan, so that may have effected the tax position.
gargleblaster
07/2/2017
14:00
You can reclaim the tax but you have to wait until the next financial year in the US (Jan 18) . I will keep this thread up to date with the various forms needed to be filled in and filed with the IRS as soon as I have had these forms confirmed by my advisor. (If you need help filling the forms out, when the time comes, there is an international IRS helpline that you can call and they will help you with them. The guy I spoke to said it would take him 10mins to help me fill out the forms and was more than happy to help)Out of interest it would be good to now if you have had any info re the promissory notes and whether they are A class or B
parmared off
07/2/2017
13:50
I haven't seen the TDI formal notification yet but yes,the 186.67 is showing as a dividend and grossed up by 15% pretty much equals 293c when added to the capital payment. Am I correct in thinking we all suffer the 15% US tax and can't reclaim it? (mine are in an ISA).
Mind you, given the FT article recently, I'm relieved to get this much !

jimbob17
07/2/2017
13:39
For people that received the equivalent of 76c Capita have fessed up to their mistake and are sending out an additional 43 cents - thanks Jim bob for mentioning the sums you have received as the latter is the one being classed as a dividend. I a,presuming from the figure that they have applied 15% withholding tax?
parmared off
07/2/2017
13:25
To be fair to TD Invest,after my earlier complaining, they have credited me with 76c this morning and an additional 186.67c (60.37 p and 148.29 p)although the latter is pending so not spendable yet.
jimbob17
06/2/2017
22:51
One person at Capita said 77c and two others I spoke to there said 76c. I couldn't work out how they had come to that figure and hopefully they are getting back to me tomorrow to explain their calculation. They did seem quite convinced that this first payment covered the non taxable portion of the deal so obviously I got rather concerned. Your payment give or take a few pence is very close to the figure I had been discussing with them - albeit in cents. I'm fully on the case but if more peeps want to join in then I suggest taking this up with your broker's corporate actions team and ask them to query Capita as to the payments due to be received.
parmared off
06/2/2017
22:32
Parmared off - did Capita inform you that they were paying 76c rather than 119c? Not sure if 58.91p equates to 76c - as it would imply an exchange rate of 1.29 and I don't believe that the £ has been that high recently.

I can feel a Diane Abbot migraine coming on!

gargleblaster
06/2/2017
22:10
I also have payment of 0.5891 pounds per share from AJBell.
Speaking to them last week they said they automatically do form W8-BEN on behalf of their clients for all US stocks.

beckaroo
06/2/2017
19:02
so that equates to the 76c per share distribution , hopefully this is just an interim payment as we are due another 43c for the "purchase consideration" The slightly worrying thing is that 43c is also the value of the promissory notes. I really hope that Capita have not ducked (with a capital F) this whole thing up.
parmared off
06/2/2017
18:46
I have also now had a small cash payment - with reference made to converted cash proceeds of GBP 0.5891 per income common share (and no breakdown on how this is calculated). I will speak to AJ Bell tomorrow for clarification.
gargleblaster
06/2/2017
18:22
Hi guys

Just checked my Selftrade SIPP account and some cash has arrived but only approx. 25% of the amount expected (assuming no withholding tax - being a pension). My wife's SIPP in in the same position. Selftrade's back office is now closed and I am expecting a call back tomorrow to hopefully clarify the situation. I will update the board asap. I have to say Selftrade were reasonably efficient with the corporate action on this occasion (they mucked up big time once previously) they made me aware of all forms to be completed and I managed to get them in by 23rd January.

scorpione
06/2/2017
17:41
thanks for that gblaster - as soon as anyone receives any payment could you share with the board how much per share was received TIA
parmared off
06/2/2017
17:17
I notice that an entry in my account has been made, namely - CHT HOLDCO LLC PROMISSORY NOTES - (with no value ascribed to it). Also no cash as of yet.

Needless to say - Promiss notes are of little concern to me compared with the cash appearing in my account!

gargleblaster
06/2/2017
17:11
we could link this bb to a current stock in case this thread disappears into the ether
any suggestions - would just be a sub thread

parmared off
06/2/2017
17:09
all corporate actions departments are responsible for their nominee accounts and should have applied your W8Ben forms to this transaction.
With my broker I was given no choice as to which way to vote so I am hoping that I will receive Prom A notes. This still doesn't explain however why Capita are only making a payment of 76c per share for the "purchase consideration" when as previously mentioned it should have been $1.19. If anyone has any further info it would be useful.
ps The only way to have your tax refunded is to wait until the next US tax year (January 2018) and file a return alongside a tax reclaim form - which takes up to 6 months to process.

parmared off
06/2/2017
16:33
Cheers muckspreader.

I've now been told that the company (CHT) have determined that shareholders holding through brokers will automatically receive the default option and inferior B Promissory Notes, since apparently the company will not allow a split from the same nominee, with some holders via nominees opting for option A and some for option B. Great.

I was also told today that the deadline for submitting forms to avoid withholding tax had been back in January. Perhaps I should have been more proactive in determining this myself - assuming it's true? - but given that Barclays already had my W8-BEN, surely their Corporate Actions Dept should have been on top of this and advised accordingly?

Barclays are now looking into the quickest way of reclaiming the withholding tax.

rivaldo
06/2/2017
14:45
Rivaldo, I have had a similar experience with Barclays Stockbrokers, their customer service has simply been just appalling. I am about to badger them again but do not expect any progress.
muckspreader
06/2/2017
14:36
Barclays have been terrible in dealing with this. The deadline is 6.00 tonight for returning forms, and I've been badgering them for a week with no result yet. Terrible. Anyone else a Barclays client having problems?
rivaldo
06/2/2017
14:19
Edit - page 34 sorry P.s if I have misinterpreted this then I'm happy to stand corrected but even finnCap's broker that oversaw this deal agrees that $1.19 should be paid out.
parmared off
06/2/2017
14:15
Just to make it clear we should be receiving $1.19 per share in the first tranche. This is a capital payment not a"dividend" and as such should not have any withholding tax applied. Page 44 of the proxy statement clearly sets all this out and it is my opinion that Capita have made a huge error in making payments of just 76c per share.
parmared off
06/2/2017
10:20
According to capita no payments have been made yet. The person I spoke to said that we are getting just 77cents per share as a capital payment and the rest is a dividend payment (less applicable taxes) and that Capita were unsure as to when this payment was to be made. If anyone is inclined to give Capita a call 0371 664 0321 hopefully you will be given some better news! If you are please update this BB.
parmared off
06/2/2017
09:17
anyone received the money? I'm with AJ Bell.Nothing so far...
maiken
02/2/2017
23:37
Tks to 100Laila and Jimbob for putting pressure on TDDirect. I think they needed it. I received my forms yesterday afternoon and sent then back within a couple of hours of receipt having called TD to check if I had completed correctly

If some reason we do not get the payment with lower tax, we should perhaps combine our efforts?

melody9999
Chat Pages: 56  55  54  53  52  51  50  49  48  47  46  45  Older

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