Renovo Share Discussion Threads

[argylerich] 01/11/2011 08:46

I received a letter from TDWaterhouse yesterday which states they were under legal obligation by HMRC to move or sell the shares by 23rd November to comply with the fallout from the move to AIM. X-O were definitely jumping the gun.

[argylerich] 28/10/2011 07:48

Mine are still sitting in my TDWaterhouse ISA, despite me giving an instruction to move them a few days ago. Obviously no legal rush to move them. It seems that X-O may have been a tad hasty?

[smith99] 27/10/2011 23:56

Well X-O have replied, apparently everyone got sent a letter saying that if you wanted to send them a cheque they would sell from your isa and buy again in your regular account and failure to reply to the letter means that they will just sell your shares.

I never received the letter so they defaulted and sold my shares.

Thanks a bunch X-O

[smith99] 26/10/2011 16:47

thanks for that - I have send a snotty letter to X-O

[undertaker] 26/10/2011 14:59

I just checked with TDWaterhouse and tehy are no longer permissible in ISA's, however they are not force selling and have given me til mid Nov to either sell them or transfer them to my main account.

[mcgrathb] 26/10/2011 13:46

If your shares have actually been sold I can only assume you held them through a ISA, since AIM shares our not allowed to be held in an ISA (ridiculous restriction, since share on oversea exchanges i.e. Australia ASX can be held).

I happen to hold these via a SIPP, this is the 2nd time I have not been forced to off load a share in about a year the other was GB Group, at least that one wasn't dead on it feet like this masterpiece from the Ulster lout Ferguson, Ferguson, Manchester seems to be a pattern of disaster on top of disaster here.

[smith99] 26/10/2011 08:58

Ok, so my shares have just been sold at 14.18p ? I wasnt even asked (held with X-O.co.uk)

If its been cancelled, why is the bid at 14.75 today ?

What happens now or did I / We just get screwed

[hollerich1] 21/10/2011 17:19

No Capital to be raised on Admission. Anticipated Market Capitalisation:
c.GBP30m

[hollerich1] 20/10/2011 12:01

i said where is everybody.

[hollerich1] 18/10/2011 13:47

where is everybody.

[mcgrathb] 15/10/2011 17:16

All that is happening here is that fergie is working on his pension pot. He has maxed out on his "free" options, even though he had completely knacked his brainchild. I do hope he is never let near another company - just a consultant in the manner of Fred Goodwin.

[hollerich1] 15/10/2011 14:26

where is everybody.

[hollerich1] 03/10/2011 10:11

maybe there is a pot of gold at the end.

[holly_dog] 30/9/2011 13:41

Does Ferguson and Blain exercising their options (but not selling) along with Kestrel still buying suggest that everyone is preparing for a closed period and the main event?

I think it's interesting that Kestrel have continued to buy as the market tanked, I wonder are they thinking the opportunities are increasing as smaller company shares are getting trashed

[testuser123] 27/9/2011 20:05

Cheers for clarifying algernon2. Guess I'll get mine sold then :( Best of luck to everyone else.

[holly_dog] 26/9/2011 15:10

Bored of waiting

[hollerich1] 26/9/2011 14:40

where is everybody.

[hollerich1] 22/9/2011 11:04

what does all this scheme of arrangements means for this company rnvo.

[holly_dog] 20/9/2011 11:29

Kestrel still buying, must mean we are still not in a closed period and therefore nothing spectacular can be brewing, yet. Top-up time.

Man this is a slow burn

[algernon2] 18/9/2011 17:28

Yes they can no longer be held in an ISA.
I have just returned from sunny Portmeirion in Wales and found a letter from my Stockbroker:
The 2 main options given are:
1)Sell my shares and have the money.
2)withdraw them from the Isa and hold them in a nominee account.
So that's the answer folks,no longer Isa material I am afraid so sell or keep but not in your Isa.

[argylerich] 16/9/2011 13:45

I think there's a lot of us wanting to know the answer to that one. Anyone?

[s2lowner] 16/9/2011 13:08

Hello

Shareholders are reminded of the anticipated cancellation of the Ordinary Shares from listing on the Official List and trading on the Main Market, and of the expected admission to trading and commencement of dealings on AIM at 8.00am on 24 October 2011, in each case subject to the Order of the High Court having confirmed the Capital Reduction and a statement of capital approved by the High Court having been registered with the Registrar of Companies.


Does this mean that they can no longer be held in an ISA?

[bobbarker] 12/9/2011 13:27

RESULTS OF GENERAL MEETING

12 September 2011: Renovo Group plc (LSE: RNVO) announced that all resolutions proposed were duly passed at its General Meeting (GM), held today in London.

In accordance with Listing Rule 9.6.18, the following resolutions are those which were passed by way of a poll at the meeting concerning special business including Resolution 1 which was passed as special business in accordance with Listing Rule 5.2.5 (4):

-- Resolution 1: to cancel the listing of the ordinary shares in the capital of the Company on the Official List of the UKLA and to remove such ordinary shares from trading on the London Stock Exchange's Main Market for listed securities and to apply for admission of the ordinary shares to trading on AIM;

-- Resolution 2: to authorise the Company to create sufficient distributable reserves by means of a capital reduction;

-- Resolution 3: to adopt new articles of association to take account of the Company's move to AIM;

-- Resolution 4: to permit the Company to purchase up to 25 per cent. of the ordinary shares in issue by way of an on-market share buy back.

In addition, the following ordinary resolution was also passed having been taken by a poll amongst Independent Shareholders only:

-- Resolution 5: to approve the waiver, granted by the Panel on Takeovers and Mergers of any requirement under Rule 9 of the City Code on Takeovers and Mergers, for Henderson Global Investors to make a general offer to the shareholders of the Company.