Raymarine Share Discussion Threads

[boffster] 27/5/2010 14:28

I would seek advice Daytraders, i.e. not from your broker. Sounds wrong to me. Since we don't really own the shares anymore, what we own is the cash from the sale.

[daytraders] 25/5/2010 16:53

Oh and i phoned my broker and they confirmed that as the share cannot be sold it is not allowed in a isa wrapper.

[daytraders] 25/5/2010 16:52

course there give it back, and it better be as near to 19.5p as possible, admin fees should not be to much, i just hope we get the interest and dividends as well.

[goalmachine2] 25/5/2010 16:35

I want my money and I want it now!!! Hurry up, now Is a good time to re-invest else where bargains all over. Thats if they give it back!!!>>???

[daytraders] 25/5/2010 08:19

aspers - do let me know thou if yours do eventually gets taken out of your isa if thats where its held, i will phone them anyway later today, cheers

[aspers] 25/5/2010 08:10

Day....no way that should be taken out of your ISA....anyway how can it be because you at this point dont know the value of it and if you did you cannot get your hands on it!!......I bet that is a standard letter they send out for Companies that move out of the FTSE for other reasons.

[daytraders] 24/5/2010 19:53

Boffster - Yeh i know mate, but like my broker says RAY aint listed anymore so cant be held in a ISA, i dont mind the fact that the proceeds will be added to my normal share account, what i mind is that i loose the £10K benefit of buying more shares under the ISA wrapper with the eventual proceedes.

More i think about it, i know where your coming from, i will phone my broker tomorrow.

[boffster] 24/5/2010 19:21

Daytraders I would definitely challenge that. Raymarine is no longer listed anywhere since the company has been sold, and all we are waiting for is the proceeds of the sale.

[daytraders] 24/5/2010 18:19

aspers - i know im gutted that i have lost the £10k tax advantage of my isa, and not being able to replace it, this is what it said in my letter from my broker below.


Further to the letter from our Corporate Actions Department dated 19th may 2010, Raymarine PLC has cancelled its listing on the LSE and is therefore not eligible to be held within a ISA environment, in view of this, we must request that the following action be taken.

1. transfer raymarine Plc Ord 1p to my share account.

or

2. forward a certificate to you.

[aspers] 24/5/2010 17:57

Day....why should they be moved from your ISA??....I hold mine in my ISA and no notification of that from HBOS!!

[mallorca 90] 23/5/2010 14:56

NO GREY MARKET

[daytraders] 23/5/2010 13:51

no there aint a grey market as far as i know, shows 17.5p to sale in my P/F, but had letter saying that in june there be moved from my isa to my normal share account, and i loose the £10000 of isa funds also and cant be replaced either :( i will wait for 19.5pish even if there was a grey market to sale at 15.5p.

[debbiegee] 23/5/2010 06:35

Hi guys is there a grey market here ?
Ray were listed on my P/F as 18.5p last week and now 15.5p ?
Strange !

[rcturner2] 20/5/2010 08:33

Well bird in the hand and all that. I don't fancy the waiting myself.

[aspers] 19/5/2010 07:54

The following is a Corporate Action notification I have just recieved on my HBOS Sharedealing account.......................

Important Information & Other Key Dates:

The Directors announced on 14th May 2010, that the Company had been placed into Administration. Accordingly, Chad Griffin and Simon Granger of FTI Consulting Limited have been appointed as Joint Administrators of the Company.

As a result of being placed into Administration the Company has cancelled the admission to trading of its Ordinary shares on the Alternative Investment Market (AIM), with the Cancellation taking effect at 8.00am on 18th May 2010.

Dealings in the Company's Ordinary shares were suspended on 14th May 2010, at the request of the Directors. Please be aware that you are no longer able to sell or otherwise deal in your Raymarine shares on AIM.

Should we receive a distribution as a result of the Administration of the Company, we will notify you at that time. Please note, however, that there can be no certainty that such a distribution will be made.

We will update you on receipt of any further information from the Company.

Should you however, wish to find more information about the Appointment of Administrators, please visit the Company website at www.raymarine.uk.

[daytraders] 18/5/2010 19:34

and if the deal aint done yet, we get even more as the GBP is getting hammered, so we get more pounds to the dollar :)

[sapper2476] 18/5/2010 19:13

This will take a few months and then payout. You might be very pleased, as the market may well of dropped off over summer and you can sweep up a few bargains.... always a plus side...

[daytraders] 18/5/2010 19:10

Think i would rather go for the official statement of 19.5p from the administrators questions and answers put up on the raymarine website, not something posted on a yachting website :)


17. Will shareholders get any of their investment back? The exact amount available to shareholders will depend on the amount of any creditor claims that may emerge and the costs of dealing with the administration.

Based on current information, this would equate to approximately 19.5 pence per share.

We are not currently aware of any unsecured creditors of Raymarine Plc, however, the administrators have a legal duty to advertise for such creditors.

[sea and sky] 18/5/2010 17:13

but probably only .5p better!

[sea and sky] 18/5/2010 16:20

RCTurner2 - 18 May'10 - 13:21 - 3636 of 3642

S+S, have to say glad I got out. I could see this coming. Now you wait on a prayer to get any money out of it.

Yes you did well RC - for me though I'm glad I stayed in. I think I'll get a better deal than selling at 17p earlier.

[daytraders] 18/5/2010 14:03

goalmachine2 - Yeh true, seeing as we could have got 35p maybe, 19.5p is the least they can pay us, they wont have any unsecured creditors either, they just have to advertise just to abide by the law, i just hope the administrators dont milk it!

[goalmachine2] 18/5/2010 13:55

Daytraders, I hope your correct, i have seen all that info, you just never know where RAY is concerned, so many twists and turns with this one!!!!

[daytraders] 18/5/2010 13:48

No need to start praying, 19.5p and administration could not be easier in this case, so fee wont be more than £500K i would have thought.

shareholders faq question 17 states 19.5p or there abouts, only admin fees to pay, no creditors, got to be at least this as just a week back they told us to turn down 17.5p, anyway go read the faq on rays website.

[goalmachine2] 18/5/2010 13:42

All of it!! 15p

[hardie1961] 18/5/2010 13:40

Realistically how much are you guys expecting back