Regent Pacific (via its distributor Recordati) will be launching Fortacin across Europe from March 2018.......Recordati are said to be "very excited" .........this could be very big...but it's off the radar for most UK investors.....RP can be held in an ISA or SIPP !
04-11-15 x 2
Interesting that Tom Wiinnifrith comments on this today.
Must be kept in mind he has fallen out with boyfriend Jim Mellon.( its pride day !! )
"In the 20 months price has collapsed by 70.5 % " worth equivalent 4.35p ( from the Nov 2015 offer of 12.5p )... 10 to 1 consolidation in 2016.
A Placing 29 march 2017 @ 40.5 HK cents have slumped 50% since ( Good job wasn't done via primary bid then !! )
Plethora not all of Regent they are big investors in Diabetic boot camp . With other Aim company's Tom does not like.
Share Prophets .. Seem to have gone off Jim melon ... slagging... PEBI ( Tag ) Which appears to have some connection here ?
Seems there was substantial news here when share price went up 300% following news of premature ejaculation spray .. something that Tom Win always found laughable.
It also appears share price subsided after.
Just spotted you are an iii client, like me. In that case, you should see a message on your secure messages / in your corporate actions under account admin. Send them a secure message and they'll tell you what the situation is.
You need to check with your broker. They no longer exist as they were taken over by Regent Pacific (Hong Kong listed). You should have received Regent Pacific shares in place of your PLE shares, but they can only be traded on the Hong Kong stock exchange. Your broker should be able to advise what happened in your case.
Some brokers can deal on this exchange, but most not - in my case I had to open up an account with a new broker (I chose BOOM Securities) and obtained a transfer form to send to my previous broker)
I'm holding them through iii. They can't trade them either, so I opened an account with BOOM securities in HK. They've sent me a transfer form and iii have agreed to have the stock transfered to them. No experience with using BOOM but it's free to set up an account and their fees seem pretty low and transparent
IS there anyone like myself holding Plethora Shares with the Halifax?
I have just received the below message from Halifax today saying (after weeks of waiting to find out) they are unable to process the transfer to Regent Pacific shares.
I now apparently need to find a broker that can facilitate the transfer - anyone any ideas? I thought I was still entitled to receive the 9.81pence offered for each Plethora Share and the Halifax would be obliged to credit my account?
"Important Information & Other Key Dates:
Further to the receipt of Regent Pacific Group Limited shares, credited as a result of the Plethora Solutions Scheme of Arrangement, we are now in a position to provide an update on the trading status of the shares.
After investigating a number of trading options, we confirm that we will not be able to offer a transfer of the shares to the German Market as we had hoped. This is due to its low liquidity on that market.
The Company's US Over the Counter quotation ceased in February 2016.
The shares will, however, remain listed on the Hong Kong Stock Exchange but we are unable to facilitate trading in Regent Pacific shares via our sharedealing facility.
If you wish to trade in the Regent Pacific shares you will need to establish an arrangement with an alternative broker. Should you wish to do this, please contact our call centre with the details of your chosen alternative broker and we will facilitate the transfer of your shares to them at no cost to yourself. Please be aware that you will need to have contacted your chosen broker in order to complete their necessary transfer process prior to contacting our call centre.
For more information about the Company, please visit the Regent Pacific website, www.regentpac.com"
Yeah I feel bit annoyed myself as I've just missed out on a unique opportunity to buy loads more Plethora shares at 3 pence to then be exchanged for 10 pence (equivalents) of Reagent Pacific shares in a matter of days
The reason I didn't do this is because I had no idea what would happen with my Halifax shares although I did think this was too good to be true (you get what you pay for as they say in terms of product/service)
Maybe what happens in reality is if you bought a Plethora share after the effective Acquisition date (29 Jan 16) of the takeover you only get the Reagent Pacific equivalent value e.g. whatever price you got the Plethora share after 29 Jan (likely around 3 pence per share) as opposed to the value at the acquisition closing date of 29 Jan 16 i.e. 9.81 pence for Plethora share.
If anyone did buy Plethora shares after the 29 Jan and your broker has converted them into Reagent Pacific shares please let us know how much they were exchanged for (was it cash equivalents or did you get the 9.81 pence worth for Plethora shares regardless of the value you bought them at) - it would certainly be a useful learning for me and I guess some others who are unsure what happens.
FIngers crossed I get another opportunity like this again and don't miss out next time partly due to lack of knowledge and the ambivalence that comes as a result of that lack of knowledge. As well as not being sure what my broker (Halifax) was going to be doing with my shares didn't help either :-/
- There are no cash proceeds to be credited from the event, as we are in arrangement to transfer the shares to our Frankfurt custodian and who trade on the HK stock exchange, but there are no timescales at present to confirm when this will be completed.
- Will be transferred to Wertpapierboerse of the Frankfurt Stock Exchange. Once the transfer is complete the idea is that you will be able to trade them thereafter.
- It will be done on the Halifax site, but at present they cannot be traded as we do not trade on the HK exchange but the facility is being implemented; after which you will be able to trade them via the same account.
- There are no charges involved to arrange this process.
I guess the only charges will be whatever broker transaction charges are when selling along with currency conversion charge back to GBP
No idea what to do with these shares myself ..do I accept the 10pence equivalents per Plethora share (roughly 3p) or hold to see if any further gain - surely Jim would not buy the company out if not certain of greater return
Well, They are being suspended on Tuesday and delisted from AIM later in the week, so its last chance saloon if anyone is going to grab some more beforehand. I may do so on T+20 with TD, taking advantage of having the account.
Just spoken with Halifax who had previously advised via a Important Notification that they would endeavour to transfer the Regent shares to the Frankfurt exchange.
With 'endeavour' being the operative word I asked what would happen if they were not able to transfer shares to Frankfurt and was told that given the complexities involved there was not any more advice available at present but that if Halifax could not transfer shareholders would be informed.
A little bit at a loss with what will happen noe. Will I get paper shares if Halifax cannot transfer to Frankfurt? Any information anyone can give will be appreciated. appreciated
Had a note from Selftrade (Equiniti) that they will not support trading of the regent pacific shares, and instead will return certificates to me. Anyone happen to have a shortlist of some UK brokers who will sell these at low cost as a one off?
Frustrating as had these in an ISA and would have been happy to continue to hold.
"I am excited that the takeover of Plethora was voted affirmatively; OI attended the meeting yesterday. Also excited about news on 3Legs!!"
Not sure what he means with reference to 3Legs?
I bit undecided whether or not I should just sell my holding @ 10p or retain the shares in Reagent Pacific but as I trade with Halifax they would be on Frankfurt exchange not Japan so not very liquid - its only a small holding now anyway around £3k
I wonder whether worth trying to get hold of some Reagent Pacific shares with another broker...bit undecided on Plethora future but it would seem strange that Jim Mellon would waste his cash to buy out Plethora if he did not think he was going to make some very good money. So can't help but feel if I sell now will regret reading about Plethora's product making millions worth of sales in the coming years.
I already missed the boat on this share when I held £10k bought at 2pence then sold a month prior to the SP hitting 20 pence...I was not a happy camper...just my luck! :-/
I forecast the mm will lower the price to accumulate more shares on the cheap from those not wishing to trade hong kong and who decide to get out ,,,,my self i've increased my holding and insured my new holding will be in lots of 10,000
Just found the answer to my own question, 15.7076 RegentPac per PLE share. That means e.g. 10000 PLE = 157,076 RegentPac, so I am curious to see if the odd 7076 in such a case will be returned as cash or not.
I can't remember the terms of the takeover - too busy to search the RNS's - is it 1 PLE for 1 RegentPac?
Reason for checking is that on the HK exchange shares must be traded in multiples of the Board Lot Size, which is 10,000 for Regent Pacific. I'm not sure how easy it would be to sell if you had an odd amount that wasn't divisible by 10k shares. I am guessing that on conversion the broker holding the PLE shares would just return the cash equivalent for the odd PLE shares.
So you think the 6 pence gap (hypothetical at this stage) is there to compensate for the uncertainty?
Plausible I guess. I think Jim Mellon has already bought some at around 2-3 pence - would that not signal it will infact go ahead given his notable standing in Reagent Pacific. Although makes you wonder why someone connected to him wouldn't just snap up all shares possible in the market at 3 pence and make a fortune.
My broker is the Halifax. They just said they will try to convert it into Reagent shares as traded on the Frankfurt exchange but I will probably lose out with some conversion fees etc no doubt and then there is issue of selling them on that exchange
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