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Share Name Share Symbol Market Type Share ISIN Share Description
Adams Plc LSE:ADA London Ordinary Share IM00B986V543 ORD GBP0.01
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 8.50 8.00 9.00 8.50 8.50 8.50 0.00 01:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 0.0 2.6 3.2 2.7 7

Adams Share Discussion Threads

Showing 2826 to 2850 of 3250 messages
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DateSubjectAuthorDiscuss
02/5/2008
13:34
mmc71: I have extracted below from this link of the latest company release of 28th April: http://www.investegate.co.uk/Article.aspx?id=200804280700481975T The cut and paste job EXTRACTS from the link above show the Tax Residence Confirmation details that are required to be produced by the shareholder and not the broker. If you fail to deliver the Tax Residency confirmation and provide just the Declaration, the company release says you will not receive the withheld amounts until liquidation which could go to July 2009. Check the final para in particular. .... .... .... "(I) Residents (both individual persons and entities) of countries that are signatories to a treaty with Israel for the prevention of double taxation (each such country, a 'Treaty Country') may receive the withheld amounts either: (i) if they deliver to the Company (A) confirmation of residence from the tax authorities of the Treaty Country in which they reside and (B) the form of Declaration for Purposes of Israeli Tax Withholding attached hereto as Exhibit A (the 'Declaration') in which they confirm that (1) they are not Israeli residents (as set forth in the Declaration) and that (2) they purchased the shares after the Company's IPO. For the avoidance of doubt the Company has been advised that any shares purchased as Placing Shares at the time of the Company's IPO will be classified as purchased after the IPO for these purposes; or (ii) upon liquidation of the Company, provided that it is consummated by 31 July 2009, if they deliver to the Company, at the time of such liquidation, the Declaration (but without the need to provide the confirmation referred to in clause (i)(A) above). .... .... .... Note that each Shareholder that holds shares or Depositary Interests through a broker or nominee must sign the Declaration and provide the tax residency confirmation themselves. Declarations and/or tax residency confirmations signed and/or provided by brokers or nominees will not suffice."
luafc
02/5/2008
09:49
This should be the one: http://www.adamind.com/pdfs/Tax%20Declaration%20Form.pdf Found on the main page under news/14th March
dangersimpson2
02/5/2008
09:37
mmc71 can you post the link here please to the form on Adamind website.
eenmakkie
02/5/2008
09:23
Great, thank you
dangersimpson2
02/5/2008
09:18
Just checked the ADA site. Yes it is that form. Going to complete it today and return it to Fastrade.
mmc71
02/5/2008
08:31
Can you confirm its the same form that is on the Adamind website from the earlier announcement? Interactive Investor are point blank refusing to do anything to help me claim back the tax, I'm going to send them the form and proof of UK tax residency from HMRC anyway, with specific instructions to pass these on to Capita together with details of my beneficiary holding on the ex-payment date. If they refuse I will take the matter up with FSA (and get a decent broker!)
dangersimpson2
01/5/2008
21:34
Got my form from Fastrade. Its a straight forward declaration statement. Nothing about asking proof of residence for tax purposes... but maybe thats because i have an ISA with them (although ADA shares in std account) so they have proof that i a uk tax resident.
mmc71
30/4/2008
17:14
Any idea what happens with spread bets? I haven't heard anything from IG Index
greenleaf
30/4/2008
16:43
Have just received some bumf from sippdeal... The Adamind Instructions documentation asks that each shareholder provides both a Declaration Statement (easy enough) AND a "confirmation of residence from tax authorities of the Treaty Country in which they reside..." Further it says "Declarations and/or tax residency confirmations signed and/or provided by brokers will NOT suffice." (My capital letters.) The intention is to receive all this back by end June for end July payment which means mid August at earliest. sippdeal have asked that my forms and declarations be routed back by me to them by June 1st. They will then forward to meet the company end-June deadline. There is also the option just to send the declaration at the company winding up time to get back the tax - this option does not require a Tax Residency confirmation, but this could be as late as July 2009. How will my Tax Authority menu telephone answering service eventually answered by some clerk if you are lucky enough to hit the jackpot have a clue what I'm asking from them? This in any event presumes they can allocate manpower away from lost tax disc searches in the first place.
luafc
30/4/2008
16:12
Just received the below from Fastrade.... Dont see why other brokers cant be as efficient. Dear Mr XXXXX, Further to our previous correspondence, I am pleased to advise that Adamind Limited have provided us with the necessary forms to reclaim the tax and this shall be sent to you in todays post. In the meantime, please do not hesitate to contact us. Kind regards Dale Rossin FasTrade
mmc71
30/4/2008
15:54
19.33 is the 75%
deep powder
30/4/2008
15:53
I spoke to nomad earlier who said that they will have sent letters to brokers explaining what they needed to do. He told me there wasn't really any good reason why they shouldn't play ball. All they need to do is forward the documentation on and provide a list of shareholders and their respective holdings. I am going to leave it for a few days to see whether or not they have a change of heart. If they don't then I will look at going down the legal route to reclaim my withheld tax.
nickcduk
30/4/2008
15:45
No, that is basically what the RNS of the 28/4/2008 says. The broker would have to be involved, since only they could confirm your share-holding details... The situation is just laughable now. I am quite sure that the information about tax-residency is implicit in the information the broker already has on record. It may be that they are just disinclined to take on the burden of making individual claims... You have to wonder just how 'unusual' this situation is. Certainly, I have not encountered one like it before...
katylied
30/4/2008
15:34
What an utter disgrace this all is. If the brokers take the position nickcduk suggests, and if they will not bow to pressure, AS LAST RESORT might it not be possible to submit forms to the company on behalf of ourselves? I guess the brokers would need to confirm/countersign we are holders as nominees somewhere in the process. Or is this gullible and naive thinking?
luafc
30/4/2008
08:51
deep powder Selftrade are paying out 19.33p. Is that 75 or 80% ? Thank you
fagine
29/4/2008
14:36
It looks like there are going to be a few more hurdles through which to jump through in order to get that with held tax returned. Selftrade have said they are not going to process any tax refunds. IG Index have said they have been told the same applies to them. I will seriously consider legal action against any of them for any losses I incur as a result of them not following my instructions. I would suggest everyone else equally chases up the state of play and kick up a fuss so that they change their stance.
nickcduk
28/4/2008
18:53
looks like i've got 80%, no idea why..
deep powder
28/4/2008
17:59
Yes, i've also had confirmation from my broker - FasTrade. They are currently in the process of arranging the necessary forms to get the 25% witholding tax refunded. If you are using a nominee service then i would recommend you contact your brokers.
mmc71
28/4/2008
08:06
Thanks Nick, Your figures make sense & I've ammended my calcs above to fall into line. I only did a quick calculation over the weekend and I must confess that I'd just assumed that as my CREST account make's it clear that I'm an individual and that I own less than 10% - then they would have paid me @ 80%. If they can't tell that I was due the 80% then their claim to be paying anyone out at 80% rather than 75% in the initial distribution seems pretty dubious to me, but then this whole debacle suggests that they don't have a clue so I shouldn't be surprised.
gromley
26/4/2008
22:19
Ive not seen anything regarding the above Gromley but I think your initial figure of 19.33p is calculated after a 25% witholding tax has been deducted. Adding it back would give a figure of 25.78p. That is approx. the 26p we were expecting to have returned to us based on the $19m and the number of shares outstanding as per their announcement. Will chase the matter up on Monday with my broker. Agree its a total shambles.
nickcduk
26/4/2008
10:58
A FURTHER UPDATE I have received by post today a further communication from the company. The key bits are : "On 25 April 2008, the Company posted to Shareholders an amount equal to either 75% or 80% of the respective amounts to which they are entitled under the cash Distribution." Basically this is 80% if they can clearly see that you are an individual and that you hold less than 10% of the company's shares - otherwise 75%. So at this stage I would guess that nominee accounts will only be creditted with 75% so far. In my own CREST account I can see that I have recieved on Friday 19.33 pence per share - assuming this to be 75% (Ammended thanks to nick's analysis), this makes the distribution including the amount withheld to be c. 25.78p / share. The note goes on to say that the withheld amounts will be payable to shareholders in countries with a treaty with Israel to avoid double taxation (I'm pretty sure someone confirmed on this thread that the UK has such a treaty) If they provide evidence by Declaration that they are not Israeli residents and bought the shares AFTER IPO - there is a form attached to this purpose which looks just like the previous form, so I'm miffed to have to go through this again. There is also a required for confirmation of residence from the UK tax authorities, but it is not clear how this is achieved. This second requirement disappears if the company liquaidates before 31-Jul-2009. STILL A COMPLETE MESS THEN! The note goes on to say : "Please also note that, after the payment of $19.2m, the company will continue to hold approximately $4m (in addition to the amount of $550,000 held in escrow as part of the consideration for the assets sold by the Company to Mobixell Networks (Israel) Ltd. in April 2007). This remaining cash is being held as instructed by the Israeli court that approved the cash distribution, primarily in connection with tax exposures both in Israel and the U.S. and projected liabilities that the Company expects to incur between now and it's liquidation. The company is currently engaged in negotiations with the tax authorities in Israel and in the U.S., and it does not expect such negotiations to be finalized before the end of 2008. Upon completion of such negotiations, the Company will update its shareholders as to the net funds available for a final distribution." So cutting to the chase : > 19.33 pence per share now (based on 75%) > 6.44 pence per share after completion of the tax confirmation. > Somewhere between ZERO & 5.7 pence per share, sometime next year! Needless to say - I'm less than impressed by all of this. Gromley Ammended thanks to nick's analysis below
gromley
15/4/2008
07:50
the maximum capital gains so 25%. 26p less 25% Israeli tax payout by the end of April 2008 or shortly thereafter. It will be shortly thereafter (can be 6 months or never) approximately US $19.2 million, subject to the maximum capital gains withholding rate prescribed by Israeli law (as set forth above) Actually its there money, they worked hard for it, setting up a company, raising the money via IPO. (that is what they feel) At the moment when Philips stept out was the signal that we had to keep our hands of it.
eenmakkie
14/4/2008
10:32
still slightly confused as to what payment we will get at the end of the month, is it 26p per share or 26p less 20% Israeli tax, which hopefully we could get back in the 2nd payment?? very confusing..
chrisdgb
14/4/2008
08:24
Suspension of listing is a technical matter. As an investing company they were given 12 months to find a company to reverse into. As they failed to find one during that period the stock exchange requires them to suspend their listing. They will be de-listed in 6 months time if ADA have not found an acquisition. Obviously they are not looking for an acquisition and we should have our cash back in relatively short order.
nickcduk
14/4/2008
08:14
They delisted; I hope you guys get something out of this, Its one big fast, Over 100p, to ZERO, from a 40 mil payout to a 20 mil poss payout; I sold here with small profit; Very Small; like wise with Orca, but still hold 100k in both BLZ and VDI;
par12
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