Adams Share Discussion Threads

[mjcrockett] 08/3/2010 09:49

Bohemia, I did not get any payment last year. So, I must be getting this money about 8 months late.

[bohemia] 08/3/2010 09:40

6.444p sounds like the refund of tax withheld on the first distribution (when they initially paid out $19.2m but 25% was locked up by the tax authority). Did you recieve 6.444p last year as well - I got mine on July 2nd, but some didn't because they used the wrong share register date!

[mjcrockett] 08/3/2010 09:22

My Barclays SIPP account has just been credited with another payment from Adamind. The amount is approximately 6.444 pence per share - I also received 3.46 pence per share last month. I was not expecting any more money at this stage. Anyone else received similar?

[mbaxter] 05/2/2010 12:59

yippee!!.....its in - thanks for the prompt Scburbs. Coincided with a couple of purchases earlier this week and I hadn't bothered to look at the last page of my statement.

[mbaxter] 05/2/2010 12:51

IG - I will check again.

[scburbs] 05/2/2010 12:16

mbaxter, IG have paid out in relation to the distribution. Who your sb is with?

[chrisdgb] 05/2/2010 11:39

thanks for the post...at least by not having the funds I have not been in this falling market...!!!! ada done me a favour again..

[mbaxter] 05/2/2010 11:36

Well done Katylied. Some of us poor souls held ours via spreadbets. It will be interesting to see how that unwinds.

[katylied] 05/2/2010 11:26

OK, my account has been credited again (refer post 1088 above). Around 2-3 weeks to conclude the cheque 'negotiation' process. Hopefully there will not be any further reversals (fingers crossed). The fee was ~£30, but I don't know as yet, how that was calculated (may/maynot have been flat-rate charges)...

[chrisdgb] 01/2/2010 10:16

Mine also reversed, anybody any fresh news?????

[katylied] 25/1/2010 15:43

Since nobody has reported a successful outcome yet, I will share what I know. It seems we are dealing with plonkers (no surprise there then). The liquidation account is with Israeli Hapoalim bank (a sterling account - so far so good). Obviously, the account would have been set up with the knowledge that loads of cheques would be paid out internationally? Right?... Ho Hmmmmmmm...

It seems the account/cheque lacks any acceptable sort-code that can be used by foreign banks (clearing) to process payment. Cheque settlement by normal means is not possible (at least this was the explanation from my own UK bank). So normal cheque clearing fails. The cheque has to be manually 'negotiated' instead.

Mine has been submitted for 'negotiation'. It has been over a week now and still no sign of payment (and no doubt there will be fees). Of course, the 'paperwork' (I had to fill in a special form) may also yet get lost. With that in mind, be sure you keep a photo-copy of the cheque and anything you have to sign...

[dipso] 24/1/2010 20:45

My cheque has bounced also!!

[deep powder] 23/1/2010 07:41

just happened to me yesterday, has yours sorted out????

why is nothing simple?????

[luafc] 15/1/2010 20:09

Got my arrears and latest divi credits via broker nominee account about a week ago. Happy days.

Both bounced y/day with consequent reversal postings.

Any problems with anyone else?

[chrisdgb] 05/1/2010 15:23

yes and the payment due in Q1 2011..

[dipso] 05/1/2010 15:13

That's brilliant, wasn't expecting so much :o)

[katylied] 05/1/2010 14:21

DIPSO... £0.0346/share...

[dipso] 05/1/2010 13:14

Thanks Katy
How much per share is it please?
I have registered mail undelivered because I wasn't at home.

[katylied] 05/1/2010 12:04

Payment now also received by my sipp broker account... :o)

[chrisdgb] 04/1/2010 10:48

cheers for that, will look out for mine..!!

[katylied] 04/1/2010 10:39

Don't want to give anyone a heart-attack, but... Had a cheque through the post today from Israel via registered mail... for the 2nd ADA distribution. I should also get a payment into my sipp broker account, but evidently that has not arrived or been cleared yet. Will pay the cheque in today. Hopefully it won't bounce.... :o)

[chrisdgb] 21/12/2009 10:43

hopefully an announcement today on the timing of payment....

[chrisdgb] 30/11/2009 15:10

Just read the statements put out by the company

Following the EGM, a further cash distribution is expected to be made to all
shareholders amounting to a total of between $2,000,000 and $2,500,000.


The Company will hold funds sufficient to cover US tax exposure and associated
costs until after January 2011 whereby net cash available at such time will be
distributed to all shareholders in early 2011, following which Adamind will be
dissolved.

In the EGM the company said they would pay out $2.2m which is 6c per share. This is before this year end.

Overall there is around $4.2m. Any US tax liability ceases in January 2011. As I said, nothing has been claimed yet but they HAVE to leave cash there in case. Any net funds will then be distributed.

[luafc] 30/11/2009 14:58

chrisdgb:

Can you elaborate? What precisely is in 2 parts? What's your source? I'm not following.

We had a net payment in Spring 2008, a tax top-up relating to this in June of this year albeit with administrative errors (see above), and as far as I know a final distribution slated for early 2011.

I have seen the 7th July and 18th November statements and pre EGM details. I do not know what occurred at the EGM on Friday.

[chrisdgb] 30/11/2009 14:32

No it is 2 parts. First part as I listed above will be before this year end, ie in the next month.

Assuming no US tax has to be paid, I estimate around another 2.5p in early 2011...