Superscape Share Discussion Threads

[gmb] 12/3/2008 20:45

You do have a choice. You can sit tight and see what happens.
Even if you don't accept the offer Glu have stated in the documentation that they plan to "aquire compulsorily all remaining Superscape Shares on the same terms as the offer".
What happens if they don't manage to get the 90%?

[ksoko] 12/3/2008 20:37

I think they're worried about not getting 90%. Trouble is that those of us who hold in ISA's have to sell!

[juliehaylett] 12/3/2008 13:15

Trouble is dont think we now have much choice.

[juliehaylett] 12/3/2008 09:39

No difference to what we already know but was asking if I was going to accept.

[helen troy] 12/3/2008 09:03

See the link in post 1089 for the latest position

HoT

[juliehaylett] 11/3/2008 16:14

I have just had Glu ring me to inform me of the lastest position.

[edmondj] 11/3/2008 10:59

Whatever any of us 'do' (sell in the market, accept the offer or take no action) we are all being forced out on Glu's terms of 10p per share. It's all in the latest announcement:

[gmb] 11/3/2008 10:23

As a pi, confusion reigns! I have lost quite a bundle on this investment. With comments from Bastide on TD Waterhouse not to accept and the time element, along with others having a hidden agenda in getting you to sell. Just what do you do?
I haven't a great lot to loose at this price and with the way we have been treated and mislead by the company directors, I certainly will not be reinvesting in Glu or any other companywith what I will get out of this fiasco.

[edmondj] 10/3/2008 16:44

Glu has stated its intention to buy us laggards out compulsorily at 10p, so fear not.

[bastide] 10/3/2008 16:41

TD Waterhouse have now declared the offer by Glu is unconditional, but their default option is not to accept. Does anyone think a white knight will appear over the horizon? The one thing I don't want is to get stuck with an unmarketable share.

[abc125] 10/3/2008 10:01

"Superscape's contribution to Glu's consolidated results will depend, in part, on both the timing and extent of further acceptances and timing and extent of open market purchases. Accordingly, Glu will provide guidance regarding the impact of the acquisition following market close on March 24, 2008, the business day following the conclusion of the acceptance period"

- I shall be buying Glu shares once my money comes in. Glu should turn profitable this year with the sps acquisition. Out of interest,, sps will now become a private limited company and their accounts should be available for viewing from comapnies house. Is there a charge?

[blingbling123] 09/3/2008 01:42

Thanks graham.

[grahamburn] 08/3/2008 21:25

My post in 1074 was slightly ambiguous, so I have deleted it. Here is a definitive explanation (taken straight from the Revenue's own CGT Itroductory Guide), basically the same but somewhat clearer (apologies for misleading some people slightly:

5.2 How are losses allowed?
Firstly, you deduct the allowable losses arising in the tax year from the total chargeable gains for the same year. You must deduct all the allowable losses for the year, even if this results in chargeable gains after losses below the level of the annual exempt amount.
If the allowable losses arising in the tax year are greater than the total chargeable gains for the year, you can carry forward the excess losses to be deducted from chargeable gains in future years.
If chargeable gains remain after you deduct the allowable losses arising in the year, you deduct unused allowable losses brought forward from an earlier year. You only deduct sufficient allowable losses brought forward to reduce the chargeable gains after losses to the level of the annual exempt amount. Any remaining losses brought forward are carried forward again to be deducted from chargeable gains in future years.
You deduct losses brought forward from 1996-1997 or a later tax year before losses brought forward from earlier years.

Example 5.1
In 2007-2008 you make
* total chargeable gains of £12,000
and
* allowable losses of £10,000
You deduct all the allowable losses. There are no losses to be carried forward.
As the remaining chargeable gains (£2,000) are below the annual exempt amount (£9,200 in 2007-08) you will not have to pay any CGT. (There is no need for you to work out taper relief.)

Example 5.2
In 2007-2008 you make
* total chargeable gains of £12,000
and
* allowable losses of £15,000.
You deduct all the allowable losses. You can carry forward the excess losses of £3,000.
As there are no chargeable gains remaining, you will not have to pay any CGT.

Example 5.3
In 2007-2008 you make
* total chargeable gains of £14,000
and
* allowable losses of £3,000.
* There are also unused allowable losses of £8,000 brought forward from 1996-1997.
You deduct all the allowable losses for the year.
As chargeable gains of £11,000 remain, you deduct £1,800 of the losses brought forward to reduce the chargeable gains after losses to the level of the annual exempt amount (£9,200 in 2007-08).
The remaining £6,200 losses brought forward are carried forward again.
As the chargeable gains after losses do not exceed the annual exempt amount, you will not have to pay any CGT. (There is no need for you to work out taper relief.)

5.10 Is there a time limit for claiming my losses?
Yes.
If you have made a loss in 1996-97 or a later tax year you must report it to your HMRC Office within five years after the 31st January following the end of the tax year in which the loss arose.
This applies even if you are carrying the loss forward to be deducted from chargeable gains in future years.
So, if you have a loss in 2006/07 you need to make your claim by 31 January 2013.
There is no time limit within which losses brought forward must be used.

[trojan] 08/3/2008 12:12

So that the huge potential gains are free of tax!!!!! ;)

[kfp] 08/3/2008 11:19

Anyway what are you all doing putting a penny share into your ISA ?
I use my ISA for blue chips that pay a good divi.

[kfp] 08/3/2008 11:17

abc125
No because you dont pay tax on any gain.
You want the peeny and the bun !!

[abc125] 08/3/2008 11:14

quick question, are capital gains losses on self select ISA's (half my sps shares are held this way) tax deductible?

[troutisout] 08/3/2008 09:19

grahamburn,
That advice is far from correct, losses can be claimed up to 6 years (I believe it is something silly like 6 years 8 months) after they have been incurred. A capital loss is a capital loss and can be claimed irrespective of any smaller gain in that period (gain £1,000 but loss £10,000 overall loss to be claimed £9,000).
For those who are interested there is a CGT thread on ADVFN where any questions are answered by a few 'CGT anoraks', they can certainly point you in the right direction.
Once a loss is claimed and that needs to be via a tax return, they are held indefinitely until you want to offset them against future capital gains.

The rule on calculating gains and losses are far from simple, I have found this site very helpful in the calculations (the revenue have some very strange rules and ways of working out the figures),


www.cgtcalculator.com


Trout.

[trojan] 08/3/2008 09:09

KSoko..

You need to get proper advice but imo they should not be held in an ISA once they come off the main market and you may be asked to open a standard account to hold them in(similar to when a stock delists from full to AIM). It has happened to me once before and this time I intend to sell to keep the proceeds in my ISA and hope that I can recover my small loss very soon!!!

[ksoko] 08/3/2008 08:47

What happens to ISA'd holdings if Glu don't get 90% ?

[esrimeur] 07/3/2008 21:55

Total rubbish @ 1074. Must be a Revenue plant:-)

[edmondj] 07/3/2008 20:20

The way the screw has been turned on shareholders... from SPS's paucity of information to Glu grinding out the last holders... nasty ethics by way of return for financing this business.

Well rid!