Conduity Capital Share Discussion Threads

[xow98] 08/1/2025 14:47

By way of an update, the draft stock transfer form was sent to SM247’s registrars in November of last year and despite several chasers we have had no acknowledgement. I have again chased this week but have yet to receive a response. We will continue to chase in order to facilitate a distribution as soon as possible.

[scalpface] 29/10/2024 21:55

Thanks xow98, I emailed Thomas and he replied swiftly and I got in touch with my broker as they should be dealing with this as per response from Thomas. Thanks again.

[xow98] 29/10/2024 11:47

Get your broker to forward the info to Thomas

[kemche] 29/10/2024 11:08

kemche13 Sep '24 - 10:58 - 499 of 502 Edit
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Have they bled it dry yet? It should take a couple of more years no doubt.

[scalpface] 29/10/2024 11:01

my broker is none the wiser about this and I have missed the 14 day "deadline" for handing over my CREST details. Does anyone know what will happen?

TIA

[xow98] 23/10/2024 14:05

To keep you updated on the progress of an initial distribution, we previously met with SM247s registrars and we are finalising the collation of shareholder data detailing underlying CREST holders and shareholders who will receive their distribution in certificated form. I am unable to provide an updated timeframe until this has been finalised.

Once this data has been gathered and the holders of Conduity’s shares in SM247 have accepted an instruction to withdraw the shares into certificated form we will execute a stock transfer. SM247s registrars will then process the transfer so as to effect delivery in CREST to CREST eligible transferees (where CREST Participant ID and CREST Member Account IDs have been provided) and enter on the register of members the names of those to be registered in certificated form, as well as raising and posting evidence of title in the form of a share certificate.

Hargreaves Lansdown have previously provided CREST details.

[tearex] 13/9/2024 11:38

I sent the accountant an email asking if it matters that the deadline they set has passed, and if they could provide a rough valuation of what I would get. No reply yet. Might be enough for a packet of Hobnobs!

[kemche] 13/9/2024 10:58

Have they bled it dry yet? It should take a couple of more years no doubt.

[tearex] 13/9/2024 10:55

August update on Conduity website

Under "Publications" they've added: "Letter to Members Requesting CREST Details."

[bwilder2] 11/5/2024 21:52

Update showing on Conduity website under publications. Slow moving. Seem to be waiting on HMRC sorting out a tax refund and other "difficulties".
No real news

[kemche] 02/5/2024 12:05

It is a highly complex liquidation that should take approximately 5 years to conclude and cost exactly the amount held in cash at the company.

[bwilder2] 02/5/2024 11:37

According to email received today from liquidator the website will be updated within a week "which will provide shareholders with further information".

[xow98] 16/2/2024 16:05

I clarify, as follows:

1) There will be an initial disposal of some shares in order to cover the costs of winding-up.

2) There will then be an in specie distribution of the majority of the SM427 shares to Conduity shareholders (a process of distributing an asset in its physical form rather than selling it and then distributing the proceeds). Because the shares are not easily divisible between the shareholders of the Company a ‘top-up’ cash distribution will be required to ensure a pari passu dividend.

Examples of how a distribution will be declared and paid is shown below (amounts are purely illustrative):

Shareholding (%) Whole shares in SM247 to be distributed in specie Cash distribution
(£)
Shareholder 1 1.00% 21,806 £401.78
Shareholder 2 0.10% 2,260 £41.67


Whilst the proposed Liquidators will distribute the beneficial interest of the shares in specie, the Company’s Registrars will be engaged to formalise the legal transfer of the shares.

[kemche] 21/9/2023 09:58

They bled this one well. PIRI next?

[onsideman] 21/9/2023 09:30

Voluntary liquidation

[ronson333] 01/7/2023 10:52

This was supposed to be sorted by now, anyone heard anything from dodgy Greg?

[shaf5] 22/6/2023 08:43

Will share holders receive anything

[pejaten] 14/6/2023 10:32

company will enter voluntary liquidation

[ronson333] 14/6/2023 09:49

What’s going on here? Has dodgy Greg gone awol again.

[shaf5] 09/6/2023 16:59

I take it that’s a no then

[shaf5] 02/6/2023 12:52

Any further news

[andre] 02/5/2023 16:26

Thanks bwilder2 Radio silence from the company who did not even bother to keep the website current, never mind the shareholders informed. IMHO

[kemche] 02/5/2023 14:23

Thanks Greig for the update.

[bwilder2] 02/5/2023 14:20

I’m in touch with a group of shareholders who have a Telegram account and purportedly represent over 50% of our shareholder base. Their sentiment is to have a general meeting to approve a solvent liquidation of the company and the Smarttech shares + any residual cash to be distributed to the shareholders.

Apologies that this is dragging on but the delay is out of my hands as we’ve been finalising a large VAT reclaim that was finally submitted last month. I have not wanted to complicate this (with initiation of liquidation) as I am advised that we are eligible for the money and it is significant. We have had further questions from HMRC into the claim before it is paid and our accountants who have got a full reconciliation of each entry (and this has been where the time has gone) have already replied.

We have initiated the drafting of the circular and it will be published as soon as possible because we believe the consensus of shareholders is to pursue this route (liquidation and distribution).

Noted that the SM247 price has fortunately moved in our favour and I am hoping that further positive news flow will keep this strong with good liquidity. The rationale of Smarttech was to deliver growth and on that basis CCAP shareholders ending up as SM247 shareholders was always the intent (albeit the original terms for the RTO were on more beneficial terms but unfortunately that was taken out of our hands).

We hope to get the circular out before the end of this month/early next month.

Best Regards,

Greg Collier

[kemche] 02/5/2023 14:20

solvent liquidation and distribution of Smarttech shares and residual cash to shareholders.