Kryso Resources Share Discussion Threads

[carlos panda] 08/5/2013 13:34

smarm

At a push I guess you could change your SIPP provider. Or, depending on the size of your holding and funds available in the various types of account, sell KYS in the SIPP (replacing with another stock) and re-buy in an ISA thereby maintaining the CGT advantage.

CP

[smarm] 08/5/2013 11:46

Carlos - I cannot transfer out of a SIPP and Selftrade don't trade HK. I think I am stuffed.However, I rang Craig for clarification and got him as he was stepping onto a plane. He is going to check what happens on my situation and get back to me.No question HK listing to take place asap.S

[rrr] 08/5/2013 11:01

We agree; good points in your 12944 post. All to like!
rrr

[carlos panda] 08/5/2013 10:57

rrr

Fair enough. All the changes are conditional but points 3 & 4 perhaps more so and certainly later.

CP

[carlos panda] 08/5/2013 10:54

In case the benefits of this announcement are unclear...

1. A reduction in the effective corporation tax rate from 25% to 15%. This equates to a 13.33% increase in post tax profits attributable to shareholders.

2. ISA eligibility.

3. Improved trading liquidity.

4. Enhanced prospects for fundraising if required for future expansion or M&A.

5. Likelihood of decent P/E rating once production commences.

What's not to like?

CP

[rrr] 08/5/2013 10:51

I agree with you Carlos. It is clear that is what is meant. One might add:

Your 1 and 2 will happen as a pair and are proposed now.

Your 3 and 4 will probably follow, as a pair, later, but no specific timetable or proposal/application has yet been set out.

rrr

[carlos panda] 08/5/2013 10:16

hard work (et al)

Assuming legal / regulatory / listing compliances are met this is really straightforward:

1. New Kryso lists on AIM.

2. Old Kryso de-lists from AIM.

At this point all Old Kryso shareholders will hold exactly the same number of shares in New Kryso as they did in Old Kryso.

3. New Kryso lists in HK.

Shares will need to be re-registered in HK prior to the next step. The company & brokers will doubtless advise on the recommended process.

4. New Kryso de-lists from AIM.

In effect all that has happened is KYS has moved to HK (and may therefore be priced in HK$).

CP

[carlos panda] 08/5/2013 10:08

ODR

Assuming the listing is HK main market we should then be able to hold the shares in an ISA. Certainly an advantage.

CP

[hard work] 08/5/2013 10:06

It's confusing:

permission having been granted to de-list the Existing Kryso Ordinary Shares from AIM and (subject to the allotment of the New Kryso Ordinary Shares) to admit the New Kryso Ordinary Shares to be issued in connection with the Scheme to AIM.

Old KYS de-lists and new lists on AIM & HK?

[carlos panda] 08/5/2013 10:06

smarm

You certainly should be able to hold HK main market equities in a SIPP. Whether Selftrade permits overseas trading I cannot say...

In general I believe that most people should be able to simply transfer (re-register) their New Kryso AIM shares in HK. This may involve a small amount of paperwork and take a few weeks but it isn't difficult. IMO the upside could be considerable.

Of course each discount broker will offer a different service.

CP

[smarm] 08/5/2013 09:45

Carlos - I think more than a few will not be able to hold the shares in their accounts. I will call Craig later to find out whether arrangement are being made, else I will just have to sell and buy back on HK listing.

Having started the day rather happy, I now find myself rather unhappy.

S

[smarm] 08/5/2013 09:35

So what we need is clarity on what happens to those of us who do not hold them with an international broker.

S

[smarm] 08/5/2013 09:31

I have removed my earlier posts....and apologies for the error.

S

[smarm] 08/5/2013 09:27

Carlos - hmmmm....red face this end....you are correct.

So the plan is not to have a London listing.

Not helpful to those of us who hold KYS in a SIPP with Selftrade.

What CCVU did was to allow sale of the delisted shares via computercentre.

Ho hum.

S

[onedayrodders] 08/5/2013 09:17

Carlos .. many thanks, I'm with TDW so hopefully ok.

Will this mean that we can hold in an ISA once HK listed ( I know a B&B would be required)

[carlos panda] 08/5/2013 09:08

ODR

The ability to hold HK listed equities in your broker account will depend on who you use. Barclays Stockbrokers allow this if you open an International Trader account (really just an adjunct to your standard one) and I seem to recall that TD Waterhouse / TD Direct used to include HK as standard.

CP

[rrr] 08/5/2013 09:05

It is all clear in this paragraph from the RNS:

"The last of these reasons is particularly important, as it is anticipated that New Kryso (assuming the Scheme becomes Effective and New Kryso is inserted as a holding company of the Kryso Group) will, in due course, seek to de-list from AIM and list on the Stock Exchange of Hong Kong Limited (the HK Listing).

The expectation is that the HK Listing would occur at the same time as an offering of New Kryso shares to new investors (the Offering).

The Directors believe that the adoption of a new holding company would facilitate the HK Listing and the Offering, and that the Stock Exchange of Hong Kong Limited would represent an attractive platform for the continued growth of the Kryso Group, given its strong Chinese ties and future outlook."

[uncle john] 08/5/2013 09:02

My first thoughts are that this shows that Craig has a long term plan and not going to sell out in a quick deal.
Very good for investors.

[carlos panda] 08/5/2013 09:01

smarm

Unless I have mis-read this, surely step one is AIM list New Kryso / AIM de-list (existing) Kryso, step two is HK list New Kryso / AIM de-list New Kryso?

Prior to this announcement the only real uncertainty was whether AIM would be maintained as a dual / secondary listing. Now we know management's intentions.

With what should be a stronger market in HK I can see no long-term need for the additional costs that an AIM listing incurs.

I haven't had time to check yet but I it may be that the mention of "associated fundraising" at the time of the HK listing is a technical requirement on that market. Alternatively management may have some further plans in mind... I shall try to look into this.

CP

[ned] 08/5/2013 08:25

New Kryso? Should have gone for Golden Dragon Mining 金龍505;礦 in keeping with the new target market. Progress in any case.