Share Name Share Symbol Market Type Share ISIN Share Description
Constellation Healthcare Technologies LSE:CHT London Ordinary Share USU210051004 CMN SHS USD0.0001 (DI/REG S)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 216.00p 0.00p 0.00p - - - 0 06:40:20
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Health Care Equipment & Services 52.1 7.7 7.5 27.3 197.33

Constellation Healthcare Share Discussion Threads

Showing 1351 to 1373 of 1375 messages
Chat Pages: 55  54  53  52  51  50  49  48  47  46  45  44  Older
DateSubjectAuthorDiscuss
18/1/2018
13:39
DH - Out of interest have you got a 1042S form to prove your holding?
parmared off
10/1/2018
16:21
Yes I called them the other day to find out the cost of certifying mine and my wife’s passport. Yes they were very pleasant and helpful but want £540 to certify the first passport and £432 for the second. I appreciate people have to make a living and accept that this includes the cost of preparing the W-7, which takes 5 minutes to complete, but I thought this was rather expensive to put it mildly.
gary1966
10/1/2018
15:21
I personally think the easiest thing to do is to get an ITIN and file a Form 1040NR form.
davidharding
08/1/2018
15:04
hi Gary have messaged you
parmared off
08/1/2018
13:11
parmared off, Up to now I have been led to believe that I had to complete a form W-7 as well as form 1040NR to enable me to get the withholding tax refunded. How does the section 302 form fit into this as it seems much more applicable than the forms that I have been told to complete. Any help would be greatly appreciated as conversations with the IRS have been fruitless as well as IG. I have been told that Capita who were the registrars would have a withholding agent in the USA. They have until the end of the month to file a return to the IRS detailing the tax withheld. Either form 1099 or 1042s will then be issued to Capita. Somehow I am then supposed to get some confirmation or version of this form that I can submit to the IRS to support my claim. Would really appreciate to hear what you have been told. TIA Gary
gary1966
08/1/2018
12:47
Hello and Happy New Year (just in case anyone is checking this thread) I am about to start the process of having my withholding tax refunded using a section 302 form and was curious as to whether anyone else was going to do the same? The other question was concerning the UK 16-17 tax year is anyone declaring the whole event as a capital gain (as in effect it was regardless of the breakdown of payments made to us) and if so are you declaring the amount received or including the as yet refunded tax?
parmared off
01/11/2017
14:51
An update on the above post - it's long, but should be accessible for free if you register. There's some "interesting" comments from Parmar himself near the end :o)) Https://ftalphaville.ft.com/2017/10/18/2194908/an-un-discoverable-constellation/ "An un-discoverable Constellation? October 18, 2017 By: Alexandra Scaggs So, we’ve had an update on Chinh Chu and Constellation Healthcare, the medical back-office roll-up company Chu’s family office purchased for about $300m at the end of 2016. But what about Paul Parmar — he of the highly publicised mega-mansion, and odd websites describing him as the/a “man of the world“? Those who have been following along since January will remember that Parmar faced a lawsuit from the trustees of an insurance receivership who claimed they owned shares in Constellation. That lawsuit has settled — but took some unusual twists and turns on the way, according to court documents. etcetc"
rivaldo
11/10/2017
07:23
Intriguing stuff FYI from yesterday re CHT, Parmar etc.....I'll copy the whole article as the FT might go subscription-access only at some point: Https://www.ft.com/content/d2581992-addd-11e7-beba-5521c713abf4 "Ex-Blackstone dealmaker stumbles in first solo acquisition Chinh Chu’s healthcare group Constellation said to face potential cash crunch Financier Chinh Chu’s first solo acquisition was supposed to be a quick reorganisation and initial public offering for his newly established private fund, CC Capital Management.Instead, it has become a corporate turnround challenge for the former top Blackstone Group dealmaker, according to people familiar with the situation. Mr Chu’s firm acquired Constellation Healthcare, a group rolling up medical back-office companies, at the end of 2016 for approximately $309m. His plan was to reorganise what was previously a London Aim-listed company and take it public in the US, where its business is based. But now he must determine how much Constellation is actually worth, as the company faces a potential cash crunch, according to those people. The concerns about cash arose after a late September discussion between the board and Constellation’s founder Paul “Parmjit” Parmar, regarding transactions that occurred before his company was acquired, according to the people. CC Capital declined to comment, citing the private and preliminary nature of the discussion. It was not immediately clear which transactions the board had found troublesome, or how they led to the firm’s unexpected potential worries about cash. The company was a buyout vehicle for small, private healthcare billing and back-office operations, with an opaque ownership structure. The Constellation case underscores the difficulty of finding new investments when valuations are rising in both public and private markets. In September, private equity firms were holding an industry record $942bn of uninvested money, according to Preqin Ltd. Medical back-office businesses offer an alluring pitch for firms looking to deploy such capital: that government policy is driving broad changes in the way doctors’ businesses are managed, which are expected to insulate such firms from economic downturns. The acquisition of Constellation was Mr Chu’s first independent deal after leaving private equity giant Blackstone in late 2015. CC Capital is a co-manager of special purpose acquisition company CF Corp, a publicly traded “blank cheque” company that raised $600m in its 2016 IPO.Despite his big-ticket financial career, Mr Chu has attracted little publicity over the years. In contrast, Mr Parmar’s record has been colourful and, at times, controversial. He took to the airwaves in 2008 to publicise his 32-acre property in New Jersey, offering viewers of ABC’s Nightline programme a personal tour of the residential compound. Two years later Mr Parmar’s lender, Deutsche Bank, filed a foreclosure action in New Jersey. The $23.7m mortgage was eventually restructured and reassigned to an entity called Aquila Alpha, which filed its own foreclosure action against Mr Parmar last year. Mr Parmar confirmed in a message to the Financial Times that he was expected to step down from his role as chief executive of Constellation ahead of an envisioned IPO. He also denied any problem with the company’s cash flow, but did not provide any additional proof or documentation of the company’s cash position by press time. The first of his responses, sent through a messaging app, was sent under the name “Marc Antony”. CC Capital offered outside investors a mix of cash and payment-in-kind-type notes rolling up interest annually, at 3 percentage points above 3-month US Libor, according to Bloomberg data — that would give the notes a yield of nearly 4.5 per cent. The transaction was partially funded by BofA Merrill Lynch, according to the proxy statement sent to shareholders. "
rivaldo
18/8/2017
08:57
Thanks stuffee. Managed to find a copy of the initial takeover RNS and looks as though you are correct in that interest is payable at 5%pa but accrues until repayment of notes. Here is the relevant section. The Promissory Notes shall accrue payment-in-kind (PIK) interest at an annual rate of 5 per cent., be payable by CHT or Parent (or an intermediary holding company between the Surviving Corporation or Parent) on or prior to the date that is the seventh anniversary of the issuance date, will be unsecured, will not be registered for listing or trading and will be subject to typical transfer restrictions. If any CHT Shareholder does not sign a Voting Agreement which contains a release of claims under the laws of the State of Delaware, the value of its Promissory Notes may reduce in certain circumstances as described in this announcement.
gary1966
17/8/2017
13:52
Gary Sorry to disappoint but as far as I recall zero interest is payable on these massively over valued notes; this was one of several reasons I objected to this whole scandalous transaction.
stuffee
17/8/2017
13:13
Trying to find out when interest is due to be paid on the promissory notes. Was it annually or bi-annually? If bi then we must be due some. Gary
gary1966
22/6/2017
21:51
Thanks Gary1966 for that. That certainly clears up my confusion regards my UK tax return. I am not so bothered about reclaiming the 15%, given the huge amount of paper work that's involved. It would be nice to get it back though as this was clearly a capital event and not subject to withholding tax.
ramprasad
22/6/2017
13:00
Hi, could anybody clarify on UK tax position regards CHT aquisition, as I have just downloaded my consolidated tax certificate from TDdirect. I had 1800 shares. The Overseas dividend schedule is as --- 1800shares--Gross pay rate 217 Cents--Gross amt $3906--Tax amt$585.90--Net amt$3320.10 So, $1.74 cash aqu price + $$.43 promi note = $2.17 and a 15% withholding tax. Now what I gather from Parmared Off's post number 870&871, for Uk tax purposes, the transaction is regarded as part disposal of common shares, and would count towards chargeable capital gains. In my case, the whole proceeds would not exceed my capital gains tax allowance for the year (and I have no other capital gains in the year). So my question is --- Do I need to declare the above amount $3906 as foreign dividend on my tax return?
ramprasad
25/4/2017
06:33
Parmared Off, I have sent messages to both IG and Capita. IG have seen proof of confirmation from Capita that they received my W8BEN. My problem is that IG use a custodian and so all discussions with Capita have to come from them. Anyway I have told both that I will be starting a full blown complaint today with the relevant authority if I have not had a satisfactory response by lunchtime. Just sick to death of the whole thing now. Gary
gary1966
24/4/2017
17:36
Post 844 Jimbob seems to have received all funds less the 15%If you are still watching this thread perhaps you could confirm this.
parmared off
24/4/2017
17:32
According to Capita many nominee accounts managed to submit the correct forms on time and have had the correct 15% withheld. Whether or not the calculations and subsequent repatriation of funds were correct in the first place is another matter. I have a contact at Capita now and will call the person again tomorrow if you would like .
parmared off
24/4/2017
09:47
Parmared Off, Have you heard of people outside of SIPP's only having 15% deducted? Thanks Gary
gary1966
23/4/2017
19:04
Gary , based on what I have been told I think IG are fobbing you off. Capita extended their deadline for receipt of W8BEN forms and others on this BB have had only 15% withheld. I am looking into this further tomorrow and will update you and this board.
parmared off
22/4/2017
20:20
Reply I have had from my complaint to IG is that Capita have decided to completely ignore if people have submitted the relevant forms and charge everybody 30% withholding tax. Apparently they now write US tax legislation rather than just applying it. Sadly I will now have to escalate my complaint to the relevant external authorities and will be bringing simultaneous complaints against IG as well as Capita.
gary1966
04/4/2017
10:10
Correct, bought through my UK trading account.
rivaldo
03/4/2017
16:02
Another provider - would I be right in assuming that the account you bought through was a U.K. Equities one (seeing as CHT were only listed on AIM)
parmared off
03/4/2017
08:04
Parm, Barclays already had one as I do sometimes trade overseas via a separate International Trader account. Are you going into battle with Barclays or another provider?
rivaldo
31/3/2017
22:09
Thanks for your reply Rivaldo - Had Barclays already got a W8BEN form from you because your account with them enables international trades or did they supply you with the form for the purposes of this deal. (Is your sharetrading account UK equities only?) Would greatly appreciated a reply as I am going into battle next week.
parmared off
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