Invu Share Discussion Threads

[smithie6] 11/4/2024 21:43

Beerbandit

Did you receive the first 2 payments ?

1.077182p/share was paid in Dec '22.

I was paid 0.129p/share in July 2023, as the second payment I think. That was the rate per share I actually received.

There is now a third & final payment 0.02p/share.
This is clearly to clear out the last bit of money. Perhaps money that has arrived at INVU from receivables or debtors that has now been received.

Not so much but it all helps.

Overall a great result, X years after de-listing. Well done INVU.

[beerbandit] 09/8/2023 11:30

Smithie6 where did you see the fianl payment of 0.129p per share, my broker is stating its 0.0707p per share? This is after receiving 0.010772 per share last December.
Thanks
BB

[smithie6] 19/7/2023 13:11

the final payout is happening now.

yesterday, but take X days to appear in people's broker accounts

0.129p/share

excellent.

"The liquidators have announced that a second and final distribution of GBP0.00129 is to be made to shareholders"

[smithie6] 03/5/2023 21:07

I wonder when the final payment will be.

It was hoped/expected that it might be ~10% of the first payment.
Much smaller but still nice to receive.

[smithie6] 20/12/2022 10:00

if Jarvis still do not pay in to your account

....you can contact the liquidator...(I have the info somewhere or do a google web search. "liquidator invu plc" or "liquidation invu plc"

[smithie6] 20/12/2022 09:57

"Following the Liquidation, an interim distribution payment of GBP0.01077182 per share were credited to accounts on 07 December 2022.

This payment represents approximately 90% of the overall funds.

IMPORTANT NOTE - If you have any questions or queries regarding this event, please send us a secure message and ensure you quote the following in the ‘Subject’; field: CORPORATE ACTION - Invu Plc - XXXXXX5"

[jimbob17] 16/12/2022 07:29

Still waiting for my funds to arrive at Jarvis. Have funds been received by shareholders yet ? Cheers Jim

[smithie6] 07/12/2022 12:13

everyone receive their cash payment ?

:-)))

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well done to the directors & managers.

[cox_neil] 30/9/2022 19:52

Thanks for the info. Have enquired with my my nominee, but nothing official. So this is all good.

[smithie6] 30/9/2022 19:32

Here is a copy & paste of info in received in recent days from a person at the official liquidation co.

"On that basis, I estimate a hearing should be no later than 18 November 2022 and a distribution {payment to shareholders. *1} being made by the end of November.


Please note the above timings are estimates and may be subject to change."

*1. from Smithie 6.
Recall that Invu dir. wrote, I think, that they expected/envisaged 2 payments, an initial one & a final one.
I dont know if that is still the plan or if it will be done as 1 payment. The work/cost for 1 payment would be less than for 2 payments.

[smithie6] 23/9/2022 23:12

I highlight that it mentions

1.19p/share

as payout guestimate, not g'teed.

That would be nice to receive, especially since it is so many years since the co. de-listed, all years without any divi.

Many shareholders probably forgot about the shares years ago & probably do not know they have some money coming. Be a nice surprise for them !

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Well done to directors, managers, workers.

[smithie6] 23/9/2022 23:06

I have asked for an update on the schedule for payout, if/when I get a reply (next week ?) I will try to post it.

Any hoped for date(s) cannot be g'teed of course.

[smithie6] 23/9/2022 22:49

FAQ
Sent out with other stand info/letters to nominee companies & ppl registered as having share certificates.

This text includes a guestimate of ~1.1p. but not g'teed, & August 2022 for possible first payment is mentioned, but not g'teed.

It appears that any creditors have to be given time & the chance to come forward. And the process has to comply with the law/regs. of course.
But hopefully we will receive some (1/2 ??) payout in 2022.

"
INVU Plc
Frequently asked questions {about the liquidation}

INTRODUCTION
As you will be aware from the other papers within this notice, an extraordinary general meeting of shareholders has been convened for the purpose of placing Invu PLC into members voluntary liquidation. The shareholders are also being asked to ratify the Board of directors’ choice of licensed insolvency practitioner as liquidator for the purpose of administering the winding up of the company affairs.

WHAT IS A MEMBERS VOLUNTARY LIQUIDATION (“MVL”) ?
It is a procedure whereby directors wish to wind up the affairs of a company and the company is in a position to pay creditors in full. It is only applicable in circumstances where the company is solvent and where the taxation implication as being appropriate. ns determine an MVL A MVL is used where the company has fulfilled its useful purpose and wants to return shareholders’ capital or where it is surplus to requirements where it forms part of a group. It allows for all assets to be realised, creditors paid and to be distributed to shareholders. the remaining surplus A majority of directors of the company must produce and sign a statutory declaration that they have made a full inquiry into the company’s affairs and formed the opinion that the company will be able to pay its debts in full within 12 months. This declaration is known as a declaration of solvency and it is a criminal offence to knowingly make a false or misleading declaration. A MVL is normally instigated by the company directors who, having taken the decision, will ca ll a meeting of the shareholders. The shareholders are invited to vote on the special resolution to voluntarily wind up the company. Once the resolution has been passed, the shareholders then appoint an insolvency practitioner to be the liquidator of the company. The liquidator is responsible for realising the company’s assets, agreeing creditors’ claim, making distributions to creditors in respect of their claims and interest before returning any surplus asset value to the shareholders.

WHAT ARE THE CONTR SUBSIDIARIES ? ACTUAL TERMS OF SALE OF THE TRADING
Due to confidentiality clauses within the contract, the directors are unable to disclose the terms of sale without exposing the company to remedies for breach of contract.

ARE THERE ANY LIABILITIES?
The simple answer is, “No.” However, the liquidator shall advertise in the London Gazette providing a statutory period of time for any party claiming to be a creditor to come forward and prove their debt.

HOW MUCH AM I LIKELY TO RECEIVE?

Based on the 585,410,409 issued shares qualifying for a payment from the Liquidation the directors estimate a final payment of approximately

1.19 pence per share.

This estimate is for guidance purposes only and there can be no guarantee that this will be the final payment per share when the liquidation process is complete. The shares qualifying for a payment on Liquidation comprise 212,803,299 Ordinary Shares with nominal value of £0.001 and 372,607,110 “A” Ordinary Shares with nominal value of £0.001 issued and fully paid at the date of this notice.

WHEN AM I LIKELY TO RECEIVE MY DISTRIBUTION?

It is possible to declare an interim distribution to shareholders once the deadline for possible creditors has passed. However, this cannot be guaranteed as there are other issues outside the influence of the appointed liquidator that can impact on the timing of any declaration. includes (but is not limited to): 1. Whether the liquidator receives any proofs of debt from creditors that must be adjudicated upon. 2. Receiving shareholder information as requested, such as name, address and bank details for the destiny of the distribution funds. 3. Awaiting tax clearance from HM Revenue & Customs. For this purpose only, shareholders are reminded of the statutory provision whereby all liabilities must be paid in full within a 12-month period, commencing from the date of the directors swearing the declaration of solvency, which will be done prior to the meeting. If all goes to plan with no complications the directors understand that the liquidator will be working towards making an interim payment by August 2022 and a final payment by December 2022. This timetable is an estimate and cannot be guaranteed.

Important notice Please do not try to contact the directors direct.

All questions should be directed to PBC Business Recovery & Insolvency. Due to the number of shareholders, should there be any questions (whether outside those covered in this document or seeking clarification of any points already raised) then please send those questions by email to :-
info AT pbcbusinessrecovery.co.uk

where they shall be addressed"

(I have changed @ to AT....to try to stop any e-mail spamming/junk mail robots)

[smithie6] 23/9/2022 22:44

Cox_neil

Your shares are held in nominee format ?

If so you need to talk to the admin. people at the nominee company.

-----
The liquidator's e-mail is given in the next msg

(Licensed liquidators)
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If you prove to them that you own Invu shares in nominee form they might be kind & e-mail to you copies of the info sent from them to the nominee cos. & to holders of share certs.

Or maybe I might post some info.

[smithie6] 23/9/2022 22:30

There is a letter/publication about it

From Ian Smith (director) I think stating that liquidation specialist XYZ has been appointed by the co., their expected/max cost is QWER

likely pay out per share is ~1.1p, spread over 2 payments separated by X months
& that first payment might be August 2022.

------

The name & co. name of the liquidator is given so shareholders could ask that person for an update.

[cox_neil] 27/8/2022 19:08

Where did you get the info that it might be paid out in Aug / Sep? I've been trying to find out, but come up with nothing. Although have read it can take a year from winding up! So hoping I'm not still waiting till May 2023!

[smithie6] 23/8/2022 12:28

Invu

don't forget

if you have Invu shares in cert. form & you have changed your address in the last 10-15 years

then make sure that you provide your correct address to the registrar
(or the payment cheque will probably be posted to the address the Registrar has on file & if you don't live there then who knows who might open it).

AND
more importantly your correct bank account number, if you have it set up that any dividend or other payments are direct to your bank account.

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if your shares are held in nominee form then you shouldn't have to do anything & you will get the money in your nominee account.

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my views only. no liability.

for professional advice go & see a professional ! ;-)

[smithie6] 05/8/2022 17:51

Invu de-listed from AIM in 2013

so, for PI shareholders to receive some money in 2022 is very good news. Most ppl will have written off their shares years ago, (while some of us didn't) ; we will all be happy to get some cash back.

Was Tesco that said
'Every little helps'

[smithie6] 04/8/2022 17:06

ah ha.

I see some news.

that there is a process for a payout & ordinary shareholders are going to get something !!

:-)

Well done to the directors including/especially Ian Smith, who was/is the MD during a number of years, producing a result for shareholders.

The paperwork does not promise the amount but I think it is hopeful for a number between 1.1-1.2p. I can't recall the number given.

With 1st payment perhaps this month of August !!

And a final payment in X months. Did it say December ???

[smithie6] 29/7/2022 12:47

Anyone heard any news ?

Are shareholders going to get any payment due to the sale of the co. (last year !!) & if so, when ?

[smithie6] 16/6/2022 20:01

sold in Nov '21
or before

& although we were part of the owners club we still haven't been told

- how much Invu was sold for

- how much we get per share (even an approximate number)

....starting to get me a bit worried

have the dirs pocketted it all as bonuses & loss of office payments ?!!

:-(

[poppa wobbler] 06/3/2022 14:41

Smithie6. Thanks for all your hard work on this. It would of course be really nice to know how much Agilico paid for Invu. So I did a little bit of searching and managed to find the law firm that advised Invu:


24th November 2021




EMW do say in their article, to contact them for any queries regarding the deal. Do you think they might tell us how much Agilico paid for Invu?

[smithie6] 30/12/2021 20:16

176 million shares

but 104 million share options

59%

ffs !!!!!

(the small company guide gives a limit of 10% in 10 years)

Has the bod treated shareholders fairly or have they voted thru massive amounts of options for themselves ?

(noting that it was company directors that previously smoked the 35-40 million pounds raised from shareholders !! & also company directors that produced fraudulent (imo) accounts, which when revealed caused the share price to collapse, causing Joe Public to lose millions of £).