Pure Gold Mining Share Discussion Threads

[hnj] 24/2/2018 16:03

Thanks for the update, alan@bj. Were you informed by the liquidators?

[zimbtrader] 24/2/2018 10:42

Much appreciated, Alan. I trust you got this information from the liquidators or someone in the know...

I've got the final distribution at somewhere between 4 and 8p. On reflection, I will simply transfer of the cash element in my old ISA and extract the cash once PUR is officially completed (whenever that may be). Can't transfer the holding as it is in liquidation. A little frustrating as I will get hit with a £35 fee every six months by Equiniti until such time as the liquidation is completed. I can live with that so long as this doesn't drag on forever!

[alan@bj] 24/2/2018 08:56

We should have clarification by 9th March, Zimbtrader, and possibly a few days before then.

[zimbtrader] 24/2/2018 07:08

Alan, have you heard something? Was going to complete my final ISA transfer from today but would delay that if the final distribution is in sight.

[alan@bj] 23/2/2018 20:57

Not long now. Next week or early the following.

[alan@bj] 26/1/2018 13:01

'Fraid not. I had a reply from the liquidator's office 6th July 2017 stating there had been no update since their letter dated 3rd March 2017 but that one would be sent to shareholders that month. I didn't receive anything though, and further emails to them went unanswered.

Horndean - You said in post 4498 that there was an update "a couple of months ago". Did you get a letter from the liquidator? If so can you tell us the date of it?

[hnj] 26/1/2018 11:14

Does anyone have an update on Pure Wafer?

[professor pettigrew] 22/10/2017 12:00

This, dear readers, is about the intelligence of your thread host - mudbath.

When he misses an opportunity, as in this case LEG, he takes it out on other people, with personal, juvenile attacks. Your welcome to look for yourself his post.

Obnoxious.

Nice thing isn't he?

[zimbtrader] 17/10/2017 11:49

Thanks, Blomers. I have set 5th April as my target to complete my transfers (or migrations as I see them), so only have to worry about it if we have no "PUR closure" by end of Feb. Still have two other holdings in the old ISA but a plan in place to migrate them at no cost and possibly even a small profit. Have managed to migrate 4 holdings the same way and am actually a couple of hundred quid better off rather than having been hit for £30 per holding...

If nothing else, I have already made a tidy profit off PUR, so exercising the same patience as the good folk on this board isn't going to hurt!

[horndean eagle] 17/10/2017 08:43

There was an update a couple of months ago and I know someone who was in contact recently. Still waiting with no timelines yet. HMRC being a pain.

[blomers] 16/10/2017 18:23

Zimbtrader - when I transferred my account the PUR shares couldn't be transferred. They were placed in a holding account which I've never been charged for and I get a cheque through the post when there's a payout. Not sure if other brokers do that - mine was when Brewin Dolphin sold their stock dealing service to Alliance Trust so it might have been exceptional circumstances.

[alan@bj] 11/10/2017 13:22

I take your point, Flyfisher. However, the last update was in March. I don't think it's unreasonable to expect one every six months.

[zimbtrader] 11/10/2017 12:10

Thanks Alan. Flyfisher raises valid points, so I'll await further news. Whenever that might be! I'll just bite the bullet to transfer the holding as and when I have to (planning to complete by April next year).

[alan@bj] 10/10/2017 16:56

The contacts at Ernst & Young I have emailed previously are Adam Cane - [e-mail] and Florence Lightfoot - [e-mail]

Their replies have always ended (for example):-

Yours sincerely
For the Company

F Lightfoot
For D N Hyslop
Joint Liquidator

[flyfisher] 10/10/2017 13:55

The subsidiary with the import/export vat issue is still alive according to the companies house web site. The parent cannot be wound up until that is resolved, vat offices have a case time of up to 18 months according to a friend who worked there.
Do remember that the liquidator typically bills out at £500ph, so a rash of contacts requesting an update will only cost yourself.
Given that the vat issue was raised earlier this year i would not expect a resolution until next year.

[zimbtrader] 10/10/2017 13:16

Alan, would you be willing to share the contact details you have?

Maybe its time for all of us to e-mail the liquidators asking for an update? A couple of e-mails can easily be "overlooked", several coming at pretty much the same time, less so? I'm transferring ISA providers and would rather not take a £30 hit to transfer the shares I hold, so keen for this to be wrapped up in the next few months...

Any thoughts?

[meijiman] 06/10/2017 12:32

Thanks-had nearly forgotten about this!

[alan@bj] 06/10/2017 12:08

Has anyone heard anything more about the final distribution? The update I was told would be sent in August never arrived and I've written to the Joint Liquidators twice since then but not had a reply.

[zimbtrader] 10/7/2017 10:23

Thanks, Alan. Maybe by the end of the year... or maybe not. ;-)

[alan@bj] 10/7/2017 08:32

The liquidator intends to issue a further update to all shareholders this month. HMRC have not given clearance yet and it may be several months before they do. I don't know any more than that but the update should elaborate.

[meijiman] 09/6/2017 14:01

Many many thanks for that post-very helpful.

[flyfisher] 09/6/2017 12:52

Companies house has accounts up to 6th jan available, in a pdf report.

It confirms the cash balance in the company and comments that a further 8p should be distributed. However, their is a vat issue on imports and exports at PWIL ltd , a subsidiary, which has only recently started investigations.

They will therefore have to conclude discussions on this issue and then seek final tax clearances at the parent company.

This seems likely to be strung out for quite some time yet.

[hnj] 19/3/2017 10:31

Ok, thank you for the clarification.