Received the letter. |
Many thanks for the updates,hopfully things will progress and get sorted. |
Received letter dated 16 Jan from Paul Michael Davis saying on 14 Jan instructions were given to the Secretary of JHI Associates to prepare and distribute the new share certificates to shareholders. Timeframe requested for completion of the distribution and will be posted on the Portal once received.Quick View (myinsolvencyreport.comUsername:OpusPassword: b4e1fff2 |
FWIW, HL confirmed I can hold unlisted Canadian shares in my SIPP ( ie JHI shares) |
C2b- thanks i was unable to see the annual progress report on the portal and gave not recieved any communications at all except what ive gleaned from your postings and my recent request to Hargreaves Lansdown |
Yes, as previously reported, (checked 2 days ago) creditors paid, arrangements being made to distribute the shares. No details about the mechanics or potential problems. Given that, I think we are owed a proper explanation and timeline for solution of any problem(s). |
I asked Hargreaves Lansdown to ask liquidator what’s going on re JHI shares.
I got the same letter back from them ( signed Paul Davis) that others seem to have about the share discrepancy and the “myinsolvency” website portal login.
Ive also asked HL if non listed JHI shares are received how they propose I would hold them.
Has anyone seen the annual progress report to all members on the conduct of the liquidation. ( 21/10/24 date?)
Regards
FH |
C2B- I know this is the case for an ISA but I’m able to keep PRAX dcu ( deferred consideration units ) in my SIPP. |
Unlisted shares cannot be held in a SIPP or ISA (to my knowledge) so assuming eventually our Arg shares get swapped for JHI we would need to wait for a listing or sale event that would make the result eligible. |
https://insolvency-practitioners.org.uk/regulation-and-guidance/complaints-procedure/#:~:text=If%20you%20find%20you%20are,via%20the%20Insolvency%20Service%20Gateway. |
Opus the Administrators are the current holder of all the JHI shares available for distribution. Individual holders and nominee holders should therefore address their enquiries to the named joint administratorpaul.davis@opusllp.com +44 (0) 1908 087 220 and not Zoe Nelsey or Tim Harrop at Opus because all we have had from them to date is uninformative blocking responses.Shortly I feel we will need to explore official complaint channels (see below) but of course before this we need to receive an official response(s) from Paul Davis. Could I ask you to direct your enquiries to him ? |
Hi MannymaniaWe know from the 15th Aug 2024 summary and the 10th Oct 2024 Annual progress report that Solicitors Peachy & Co. assisted in obtaining the shares, (presumably re-registering) the JHI shares from Argos to Opus the Administrator, and that McCarthy Tetrault were said to assisting with the calculation and distribution of the JHI shares. Thus as far as JHI are concerned the approx 18m shares are currently held by Opus the Administrator. The JHI shares have not been allocated, so it is not clear what any communication between JHI and nominee holders would have been about. |
Thanks C2B for the effort you have put in. I have been complacent on this.
I did see some JHI contact info but have yet to send an email-however looking at that guys linkedin details he seems to have moved on so the JHI website has no corporate dev contact?
Scott Young, Vice President – Corporate Development
scott@jhiassociates.com 705-888-2756
FH |
Out of interest I held these via Hargreaves Lansdown. They are obviously the Share nominees on the register.
The shares still sit (As of today) in my SIPP and the last communication I received was in Oct 2023 saying that they will still be in the SIPP due to the company being in liquidation.
My question is are there any other holders on here/known that will be represented by HL share nominees?
I just contacted HL today to ask if theres any update-I assume you can if you hold this way do the same and askk to add some weight to my request.
There should be no trouble holding any JHI shares/paperwork in a HL fund and share account despite JHI associates being a Canadian company.
FH |
Just come off the phone to Halifax share dealing advisor,her take on this is,currently,they have had no contact from JHI(Canada) since December 2023,in respect of the corporate event.currently Jhi will not have you listed as an individual holder but they will be aware of my holding with Halifax,and can request information from nominees under a section 793 request under the companies act 2006,so the delay looks to be the above,but why after a year haven’t they made contact? |
I have just discovered Westmount Energy, WTE, who has 5.7m shares in JHI and 1m shares in ARG. It's worth following them. |
If we were shareholders we could ask about their plans !!!!!! |
I share your sentiment. When is JHI listening on LSE? |
Rkh flying,it’s so frustrating ,we should of been ticking up along with them been here since 2010 hoping to get a piece of the action somehow with Jhi or will they partner up /sell off |
Yes, subsequent to de-listing Argos shareholders demanding that the Administrator acknowledge changes of ownership of the Argos shares (including holding in personal rather than nominee name) will cause so many problems. That is why the delays since 15th August are so unacceptable. |
Just seen your post,answered my question. |
c2b
Yes, they would have had the info.
However, some holders may have converted from nominee to cert (in own name), post de-listing.
Nevertheless, the Registrar's records, as theystand today, must be considered the definitive ones. |
Not crooks, but not very competent. On 15th August 2024 when Opus were summarising their Administration they had clearly not considered the mechanics and potential problems of distributing the JHI shares to their rightful owners, even though they would have had all the information necessary from the date of the delisting. |
Many thanks all for your input,but am still at a loss,if as you say my name is the one on the register ,then why have I not had any correspondence whatsoever from JHI,it’s all very odd a year after takeover ?? |
If holding has been converted (materialised) into cert, all that Halifax would be doing it is keeping it in 'safe custody'.
The name on the Register would be the individual's, but the correspondence would go to Halifax.
Should make no difference to the Administrators.
(I asked for my cert to be delivered to my address, and got the letter direct to me, as a result)
Frankly, I do not understand what the problem is at the administrators: I'll say it again - the Registrar's records are the definitive ones. |
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