Vialogy Share Discussion Threads

[swiftnick] 28/1/2014 14:13

This wasn't a rights issue, it was an open offer. However, even if it had been a rights issue it would work the same way as in post 1834 above.

I'm holding on to mine as well.

[spec7] 28/1/2014 14:07

CGT on these would be nice :-)

[the skipper] 28/1/2014 14:03

Swiftnick, I was going from memory of my last conversation with my accountant last year. Now having had a look at the HMRC site I think you might be correct, but the situation is clouded when shares have been issued via a rights issue and this is what applies:

Complicated eh? It's a firm hold for me anyway.

[swiftnick] 28/1/2014 13:40

Let's say that prior to the open offer you had 200,000 VIY shares which you bought for 1p. Total cost £2,000.

Under the open offer you were entitled to 100,000 shares at 0.1p (total cost £100). You take up the offer. You now have 300,000 shares. Total cost £2,100. The average price you paid is now 0.7p (£2,100 / 300,000).

You now decide to sell the 100,000 shares you bought in the open offer. Let's say you can sell these for 0.15p. Sale proceeds are £150.

For CGT purposes you have crystallised a loss of £550, being the difference between the average price paid of £700 (100,000 x 0.7p) and the sale proceeds of £150.

It doesn't matter if you sell within 30 days of the open offer or later. What does matter is whether you then buy back again within 30 days of your sale. If you do this then the £550 loss is substituted with a gain or loss based on the difference between your 0.15p selling price and the subsequent repurchase price.

[swiftnick] 28/1/2014 13:24

Are you sure?The share matching rules which you refer to apply if you sell and then buy back within 30 days. I didn't think it worked the other way round.

[the skipper] 28/1/2014 12:58

I think some will be tempted to sell soon if this rise continues, but a word of warning for anyone in CGT territory. If you sell within 30 days of receiving the open offer shares even if your position is still negative overall, under HMRC's share matching rules the sale will be matched with any purchase under the OO and excess allocation facility, thus triggering CGT. That means people like myself are effectively locked in for another month, which i think helps explain the lack of selling and why we could see a very good rise here on any decent news.

[timmbo] 28/1/2014 11:41

I would take 0.9 and a 70% loss..

[spec7] 28/1/2014 11:17

0.9 please.....i need to break even at least :-(

[rajaster] 28/1/2014 10:48

:).. it will be fantastic indeed and ganble paid off the way we like it.

[timmbo] 28/1/2014 10:36

Back to 0.4 then.... Yeah fantastic that..

[rajaster] 28/1/2014 10:31

spec7 order books are always funny ones, probably just some of the placees selling stock to large buyers or other IIs(imho).

[spec7] 28/1/2014 10:10

Beats me where they get the stock ? week after week of buying and very few sells.

[fairenough11] 28/1/2014 09:58

Bill Lehane 28 January 2014 09:19 GMT
Seismic players CGG and Spectrum have begun a joint seismic survey in Brazil's the northern equatorial margin

[the_doctor] 28/1/2014 09:57

'I don't share 99% of my research! It is far too valuable!'

DJ
Then you are talking cr@p
Anyone with good research would be happy sharing it (unless they're selling it, which you are not)
Why?
Because if you think something is a buy/sell, then having others see your research and agree could only help your position

[spec7] 28/1/2014 09:57

JSB
100% agree. i have never said otherwise.

[son of xylos] 28/1/2014 09:53

75,000,000 buy. Someone is confident.

[jsbach123] 28/1/2014 09:49

Frankly spec7 I am surprised that anyone still holds the opinion that QRD might have a revenue-generating commercial application.

[twix386] 28/1/2014 09:43

GP2,

Too little imo.
BD architect of Texas commercial mess and after many years, we first went bust!
Not good enough when he was responsible to deliver before we succumbed, though I am sure we had his best efforts. aimho

[rajaster] 28/1/2014 09:28

yep timmbo, that will correct the moment some direction is shown by management. At the moment Silence.

[greenpastures2] 28/1/2014 09:27

Bob Dean probably did the best he could in the circumstances twix. I suspect he was constrained by lack of money.

However, I think if the tech had any real chance of success venture capitalists in California would have been falling over themselves to invest.

It was that thought that stopped me adding after 2005.

[timmbo] 28/1/2014 08:49

Mkt cap 2mill, 1.5mill in the bank... And about 15mill in VEC..... LOL.

[spec7] 28/1/2014 07:52

We have SG still knocking about for a tech link to VEC, i dont see Dean as having right to stay with VIY. On past performance we can expect abject failure from him.

[twix386] 28/1/2014 07:47

we need that someone to be a negotiator and deal making and closing expert or at least proficient. I put it to you, that Dean has not shown he's up to it to date. Expected deals take years longer than his own expectations, don't work (like Texas) or simply don't arrive (like West Africa, China, Reliance, BP etc) and over such a long period we actually go bust first!!
It's a mixed track record at the VERY best imv and can't all be bad luck.

We may well need Dean. All I am now wondering is do we, still or do we really need an expert contract negotiator AND closer? Someone who doesn't have holes in contracts that allows for no drilling to occur, as in Texas for instance. I get the impression BD doesn't suffer fools gladly. It just may be time we didn't suffer anymore too as it did NOT work out for shareholders and that's an inescapable fact!