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VCF Value Catalyst

30.00
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Value Catalyst LSE:VCF London Ordinary Share KYG9315M1134 ORD USD0.00001 (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 30.00 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Value Catalyst Fund Share Discussion Threads

Showing 26 to 50 of 50 messages
Chat Pages: 2  1
DateSubjectAuthorDiscuss
11/5/2022
19:52
Yes, agreed. No response to my email to them. We have been well and truly had over. Nothing we can do unfortunately.
topvest
11/5/2022
14:05
The last Audited accounts i have are to Year June 2019.
They show the Realisation fund had assets of $21.44mn or $0.47 per share.
Continuation shares fund had $6.47mn or $0.48 per share.

Since then there was a $0.62mn distribution to Realisation holders in August 2020.

Wind up now distributing $0.40mn or $0.118 per share to Realisation share holders.
Continuation holders get $2.35mn.

Totally unacceptable.

olliemagern
29/4/2022
13:58
Yes. I got the email yesterday, and queried with them where all the value has gone since 31 Dec 2020. Did you get any initial distribution?
I do think we have been mugged by Laxey (greedy) Partners. It's rather irregular to 1. Have anything below US$300 going to charity and 2. Having a US$100 charge levied on top of other charges. 3. Not to receive any financial information on the voluntary liquidation either and where the money has actually gone.
I only had a few so it will be going to charity and I suspect it would have been endless documentation to get any money across from them.
As a point in principle, I decided that I would rather receive zero than to let the bad people at Laxey profit, so didn't accept their offer. At least my money will be going to charity rather than to them!
The assets were Ceiba Investments (should have been worth something as still 50% of the listing price) and CPD SA where the share price seems to have done well.
There is no way forward with the UK Ombudsman I feel. We have been well and truly Laxey'd as the value remaining seems to have reduced by 75% since 31 Dec 2020 which doesn't make much sense to me!
At least I just about broke-even on the original price paid for my shares. Hope you have not lost too much.

topvest
29/4/2022
11:43
Yes in the same boat topvest.

Seems the Realisation fund had around $7.25m net assets, but wind up costs must have been around $6.85m, as they are only paying $0.4m out to Realisation shareholders. That's $0.118 per share, its an outrageous fraud.

Been mugged here, the lucky people winding this up are probably now millionaires for very little work.
Is it worth referring to the UK Ombudsmen as the administration wind up costs are scandalous? based in the Cayman Islands they may be able to get away with UK fraud.

The Continuation fund distributed $2.35m, 99% of it to one shareholder, and we can guess who that is.

olliemagern
15/4/2022
09:47
Received a Dec 2020 net asset value statement, but nothing at June 2021 for the realisation fund. Is everyone else in the same boat?
topvest
15/4/2022
09:44
Radio silence here on results or anything, but I managed to get an email update that they are currently working with Credit Suisse to have cash released to allow processing of a final distribution. They were hoping to send an update to investors in the coming weeks.

Anyone else heard anything?

topvest
19/2/2021
20:06
NAV at 31 Dec increased 22% to 51c a share. In my view the Laxey offer was very dishonest and underhand.
topvest
22/1/2021
10:14
Topvest, thank you the situation is much clearer to me now.
olliemagern
21/1/2021
21:02
I have responded fairly sharply to Laxey Partners. No accounts for June 2020 and they then offer roughly a 1/3 rd of book value / the latest redemption price to take the shares off your hands.... after bleeding the company dry for years. I've decided that I would rather get nothing for my small holding than sell to Laxey Partners who have shown themselves up for what they really are - greedy predators! And to think they tried to bring down the great institution of Alliance Trust in the past.

I have said I will take a partial dividend in specie (which is not an option I suspect) or chance my arm in the liquidation for at least x2 the Laxey offer. Laxey Partners know perfectly well that most holders can't hold the CDP shares in their portfolio. It's a disgraceful ploy to get your shares for undervalue. I suggest everyone puts Laxey or DBay on their bargepole list and never touch anything to do with them again.

Don't follow my advice though. I only have a very small holding. It is tempting to just take the cash from Laxey, but out of principle I'm not going to let them make more money out of me! Sometimes you have to take an ethical stand of good against evil in this world.

topvest
21/1/2021
14:03
In order to take the Specie offer you will need to be able to accept and hold Celtic epic CPD Poland shares code PLCELPD00013 that are not on Crest.
olliemagern
20/1/2021
22:49
It was a posted letter to me, so i believe it only applies to the Realisation holders, not the Continuation pool.

it reads prior to liquidation VCF remind shareholders that there is the option for you to take stock and cash in specie out of the company.

Limited capacity to purchase your VCF for $0.147, this option only available until Friday 29 January 2021.

If you wish to proceed with either option contact Laxey on 01624 690900 or e-mail vcf@laxeypartners.com

olliemagern
20/1/2021
17:48
Agree with you but will try and get details
edwardt
20/1/2021
17:47
Just seen this - feels like a kick in the nuts offer doesn't it? Liquidation is always expensive as pwc and the like bleed you dry. I will however take the risk. My broker has not circulated to me is it posted on their website? Thanks
edwardt
19/1/2021
15:56
VCF Latest NAV I have for Y end June 2019 is $0.4687.
The 7th Jan 2021 offer of $0.147 for our shares seems derisory.

With 21 million realisation shares left, surely liquidation will not cost too much.
After waiting 11 years it looks like waiting another two years for liquidation is the best way forward.

Anyone out there with any views?

olliemagern
21/5/2011
08:59
I think I'm going for the realisation pool; what are others doing? May be an opportunity to buy some more here prior to the delisting at a very good price so will keep watching. It's all a bit of a sad end for this vehicle.
topvest
14/12/2010
15:55
Thanks topvest. Excellent and QVT with 38%....
praipus
14/12/2010
15:43
Holders are:



Presumably, if you go for the realisation pool holders will get their funds returned fairly quickly. I'm surprised this didn't impact the discount today, hence the buy.

A couple of other thoughts:
1. I see they have started an Alliance Trust action group. Some fair points made, in their open letter, although I'm supportive of Alliance Trust generally so won't support them on this one.
2. Their property company in Poland was due to list in Warsaw this month, but I've not heard about this. Maybe some delay?

topvest
14/12/2010
14:14
Not a holder here yet but can anyone tell me who the major shareholders are?

Laxey I assume still have 7% being they manage it and their EBT 1%.

post 1 of the following thread lists all the Laxey holdings I'm aware of

praipus
14/12/2010
13:30
Added a few following today's announcement.
topvest
11/12/2010
18:00
Id suggest any sane shareholders will have voted for windup and take thier cash before the fees and terrible investment decisions lose anymore
hindsight
08/12/2010
17:29
Hmm maybe maybe not. They could wind-up now using the DBAY cash and demerge the two bigger holdings with no net debt. To me this makes a wind-up vote potentially more likely.
topvest
08/12/2010
15:31
I would suggest the recent DBAY sale will mean continuation vote easily goes through..
chrisdgb
08/12/2010
15:28
Fairfax just traded 500- each side, 27 sell/28 buy..
chrisdgb
08/12/2010
15:27
I'm going to wait for the results of the continuation vote next week. Still watching though!
topvest
08/12/2010
13:01
Not a holder here but can anyone tell me who the major shareholders are?

Laxey I assume still have 7% being they manage it and their EBT 1%.

praipus
Chat Pages: 2  1

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