Abcam Share Discussion Threads

[jeffian] 29/11/2022 15:42

Well at the moment I'm feeling quite smug, but it's up and down like a yo-yo so who knows where it will be in the future? The decision was forced on me by the impending de-listing and the fact that HL would have automatically transferred it from my ISA anyway, thus losing the tax-free status of that investment. I'm not very happy about it but what can a small PI do?

[lord loads of lolly] 28/11/2022 16:49

jeffian - me neither. Nothing seems to have been reported today. Maybe it's anticipation of a possible uptick once dual listing ends? Whilst 13 Dec is the last official AIM trading day, my broker has said ABC shares will start being migrated across on 1 Dec. So the last date for me to trade them on AIM is 30 Nov. If they go up much more between now & then, I'll be following your lead.

[jeffian] 28/11/2022 11:04

Not sure what caused today's spike but took the opportunity to sell out of my ISA to keep those funds within the tax-free wrapper. Pity.

[lord loads of lolly] 28/10/2022 12:23

jeffian - agreed, ISA value will go down, BUT non-ISA account will rise by the same value. So overall impact is nil. Except, that you'll no longer be exempt from capital gains tax on your Abcam holding. I don't think inheritance tax relief applied on Abcam shares held within an ISA, as they've been dual listed for some time, which I believe negates AIM IHT relief. Abcam's desire to delist from AIM appears short-sighted to me and NOT in the best interest of UK holders. Any uplift from an exclusive Nasdaq listing will likely soon fizzle out. So their proposal really just makes the shares more cumbersome & expensive for UK holders to trade. If the Nasdaq rallies again within the next couple of years & Abcam shares rise with it, I'll be looking to exit altogether before any CGT becomes liable. Presumably the starting valuation for CGT purposes will be ABC's share price on day 1 of conversion?

[jeffian] 27/10/2022 17:53

I realise I'm talking to myself here but IF anyone is lurking and in the same boat, the situation (at least, with HL) is that if you do wish to keep an investment in ABC and convert your shares to ADS's, any held in an ISA will be transferred out into your unprotected share account. In that event, the value of those shares will be lost to the ISA (i.e. the total value of the ISA account will be diminished by the equivalent amount). The only way to retain the value of the ISA is to sell those shares, re-purchase the equivalent amount in the unprotected share account and then accept the transfer to ADS's.

I have voted against the Resolution to delist, to be held on 11 November, but if it gets carried, the shares can be traded up to 13 December to enable the actions mentioned above.

Edit: Crossover post, lll. Nice to know there is life on Mars! Yes, seems we are saying the same, but note that if you allow the platform to transfer the shares from your ISA to your trading account, you will lose that value in the ISA.

[lord loads of lolly] 27/10/2022 17:50

jefflan - I use a different broker who says they can't be held in an ISA post-conversion, but can be held & traded as normal in a standard share dealing account. So I guess the main downside is a loss of any capital gains protection. Not sure AIM IHT protection was still in force anyway, given Abcam's previous joint UK/US listing.

[jeffian] 21/10/2022 23:39

Clearly not a well-followed share on here then!

[jeffian] 19/10/2022 17:50

"other than that, does it make any practical difference holding Nasdaq ADS's rather than Ordinary shares?"

Well, having just received my options from HL, the answer seems to be "yes". It seems you are not allowed to hold ADS's in an ISA which is where I, and I assume many other PI's, hold them. I don't suppose it's a problem for the institutions, but this seems designed to squeeze UK PI's out of the picture.

[jeffian] 17/10/2022 10:49

I'm still not sure what to make of it. I will miss the IHT relief but, other than that, does it make any practical difference holding Nasdaq ADS's rather than Ordinary shares?