Interserve plc - Are the shares still valid

sevenhills

Interserve plc - Ineligible ISA Investment


I got the above message from my ISA provider, just wondering what to do.
I do still see Interserve vans and workers wearing their uniform, but I thought that they had gone bust.
Are my 600+ shares worth anything?

LobsterMemory

No need to do anything, they'll disappear from your portfolio at some point

Interserve went into administration and was sold off

https://uk.advfn.com/stock-market/london/interserve-IRV/share-news/Interserve-PLC-Successful-completion-of-sale-of-th/79484915

Your shares are likely to be worth nothing per se but could be used to offset capital gains at some point if you have any of those

IanManc

LobsterMemory wrote: »

No need to do anything, they'll disappear from your portfolio at some point

Interserve went into administration and was sold off

https://uk.advfn.com/stock-market/london/interserve-IRV/share-news/Interserve-PLC-Successful-completion-of-sale-of-th/79484915

Your shares are likely to be worth nothing per se but could be used to offset capital gains at some point if you have any of those

They can't be used to offset capital gains because they were in an ISA.

LobsterMemory

Good point, well made

sevenhills

LobsterMemory wrote: »

No need to do anything, they'll disappear from your portfolio at some point

Interserve went into administration and was sold off

Thanks, it was just confusing because they said "we’ll automatically transfer your shares shortly after Friday 30 August 2019 unless you request otherwise."

jmus

sevenhills said:

LobsterMemory wrote: »

No need to do anything, they'll disappear from your portfolio at some point

Interserve went into administration and was sold off

Thanks, it was just confusing because they said "we’ll automatically transfer your shares shortly after Friday 30 August 2019 unless you request otherwise."

All very interesting. But what about this acquisition by Mitie?

from the Interserve website:

news-media/press-releases/press-release/2020/06/25/interserve-group-limited-mitie-plc-announce-the-merger-of-interserve-s-support-services-division-with-mitie-to-create-the-uk-s-leading-facilities-management-business

"Interserve Group Limited welcomes the announcement from Mitie PLC of the proposed merger of Interserve Support Services with Mitie for a combined consideration of £271m, comprising £120m in cash and a 23.4% shareholding in Mitie to be held by or on behalf of Interserve’s shareholders. Interserve Support Services is comprised of the company’s facilities management operations in the UK and overseas across both public and private sectors."

Linton

The old company was Interserve PLC which went bust and the shares dropped to zero value.  The new company is Interserve Group Limited which is a private company.  I think it was set up from the remains of Interserve PLC.

Windsor_Castle

From the comments in this thread, if Interserve plc shares were not held in an ISA, they could be used to offset capital gains. But now, almost 2 years since they went into administration on 15/3/19, they do not appear in hmrc Negligible Value Agreement list. Can I still make a claim in 2019/20 tax return and do I get penalised if hmrc don't accept the claim?