Newport Networks Share Discussion Threads

[pelleeds1980] 22/12/2010 22:24

Nice one - £95 and more importantly can use the tax loss.

[wathchers] 22/12/2010 22:00

just got 97 quid for half a million shares, wasn't expecting anything

[osammyboy2] 16/12/2010 18:39

Haven't heard anything yet. How much per share?

[orslega] 16/12/2010 14:50

was watching out for this - my view is that now that they have paid the full and final settlement dividend, that is it.....so that now means that CGT losses have crystallised - no one can argue with that and I will certainly being claiming neglible value for NNG on my Tax Return for the current year ending 5th April 2011.

I also believe that there is a good argument to be had with HMRC - if one needed it - to claim that the CGT loss crystallised a year earlier ie in the year ended 5th April 2010 - so if you want to claim the CGT loss in y/e 5th April 2010 Tax Return because they are needed to offset gains above CGT annual allowance - then do so - just make sure that you add an additional information note to your CGT computation quoting the Receivers letter about maximum potential final distribution (NB, online filing deadline 31st January 2011.

Either way, always claim your CGT losses as they can be carried forward indefinately. You never know your luck, you might just have a multibagger one day........ like blinkx!:)

[sharewinner2] 16/12/2010 12:38

LOL. No actually, it's not very funny.

I'll post the info later as just on way out but got a cheque as full and final dividend (£0.98), yes 98p. I'll need to compare how many I held in certificate to my nominee account but this will be settlement for my certificate I guess.

[osammyboy2] 16/9/2010 21:39

Thanks pelleeds. Now time to apply to HMRC for a certificate of negligile value so we can claim the loss against gains for CGT

[pelleeds1980] 16/9/2010 19:45

Posted to my Halifax account today:

NEWPORT NETWORKS - Important Information



Further to the placing of Newport Networks Group PLC shares into Members' Voluntary Liquidation, we have received notification that the Newport Networks Group PLC shares are no longer eligible to be held within the UK Settlement System.


Important Information & Other Key Dates:
We have therefore removed the Newport Networks Group PLC shares from your account.

Vivian Murray Bairstow and Neil John Mather of Begbies Traynor (Central) LLP acting as Joint Liquidators of the Company have announced that they do not expect any distribution payments to be made to shareholders.

Should we receive any further information from the Company we will update you in due course
----

So not a sausage for us it would seem

[osammyboy2] 09/9/2010 22:09

Thanks sharewinner. Looking forward to closure soon

[pelleeds1980] 09/9/2010 13:01

Cheers for posting sw2 looks like we can draw a line under this at some point then

[sharewinner2] 09/9/2010 12:49

Just got through the post a notice from Begbie Traynor.
1. a notice of AGM
2. a proxy form for use at AGM
3. joint liquidators annual report and account.

purpose of AGM to receive account of the joint liquidators acts and dealings and the conduct of winding up during the preceeding year.

£65,211 cash in bank. No creditors. Dividend received £37,431.

£6250 consultants fees. £921 agents fees. £227 advertising. Liquidators £15,441 to date.

£80,080 in joint liquidators bank.

Sufficient funds to distribute to shareholders. Timing of first and final payment depending on tax clearance therefor time of distribution unknown.

Off out now, if I come across anything else in it will post.

[jgould] 24/8/2010 17:21

yes, thank you to all those still giving feedback here.

[pelleeds1980] 23/8/2010 19:16

Cheers for chasing and feeding back

[osammyboy2] 23/8/2010 19:13

Reply from Barclays

Dear Mr

Thanks for your email. Ref: 5928206

We haven't received any information regarding any payments due for this stock. In the event any payment is due to clients we will arrange to make payments to those who are due the funds.

Did you know we've recently added an 'Ask A Question' page on our website, and the answer to our most frequent questions can be found there. Simply select the link below to view this page, and also rate how helpful you found the answers:


Kind regards

Shavonne

Shavonne Berry
Client Service Team

Barclays Stockbrokers
300 Bath Street
Glasgow
G2 4LH

EMAIL: stockbrokers@barclayswealth

[osammyboy2] 22/8/2010 17:19

Copied from HMRC website

Shares of negligible value

The Negligible Value list is a list of shares or securities formerly quoted on the London Stock Exchange, which have been officially declared of negligible value for the purposes of a claim under S24(2) Taxation of Chargeable Gains siteAct 1992 by the Shares and Assets Valuation Office.

The list shows the name of the company, the type of share or security and the tax year or a specific date at which the shares or securities may be accepted as being of negligible value. The list also shows when companies whose shares have been agreed to be of negligible value are struck off the Register of Companies and dissolved. Please note that negligible value can not be claimed after the company has been dissolved.

The negligible value list gives a tax year or a specific date at which Shares and Assets Valuation has accepted that the share or security if of negligible value. If a negligible value claim is received for a share or security which is on the list but for an earlier date than shown, then Shares and Assets Valuation will consider the claim at the earlier date.

If a share or security does not appear on the list, this does not necessarily mean that we will not accept the claim. It could be that a negligible value claim has not been previously considered.

All negligible value claims must be made to your Inspector of Taxes in the first instance. A claim can be made by making an entry on your tax return or by letter. Your claim will then be referred to the Shares and Assets Valuation Office if considered appropriate.

[pelleeds1980] 22/8/2010 14:05

I checked the wikipedia entry and it said last edited August 2009



Im going to write to HMRC at some point see what their take is on this (i.e. if I can offset this loss) sounds we will get next to nothing anyway

[osammyboy2] 21/8/2010 18:24

I haven't heard anything of this so I have today emailed Barclays for info.

[jgould] 20/8/2010 17:35

no money here either...thieves!

[pelleeds1980] 19/8/2010 20:38

I notice from the Wikipdeia entry for this shower of a share the following:

The company has now ceased all trading, it has been placed into solvent liquidation and remaining funds distibuted to shareholders.

Has anyone had any cash out of this? Main thing I want is to be able to use this loss against profits made last year.

[wathchers] 29/7/2010 00:41

nothing , beginning to think we may get nothing . had a nice dream we took mathews to court and he was ordered to pay out millions for making false statements about contracts.

[pelleeds1980] 25/5/2010 21:33

Bit out of the loop guys is there some news here?