Vectura take-over

sevenhills

What is happening with the Vectura take-over?

Reading online people mention letters being sent out last month, I have had letters, but no cheque, as yet.

george4064

Read the RNS here: https://ir.q4europe.com/Solutions/VecturaIntranet/3832/newsArticle.aspx?storyid=15202787

and https://ir.q4europe.com/Solutions/VecturaIntranet/3832/newsArticle.aspx?storyid=15189470


This section seemed quite important:
Delisting of the Vectura Shares and the re-registration of Vectura as a private limited company will significantly reduce the liquidity and marketability of any Vectura Shares in respect of which the Offer has not been accepted at that time, and the reporting and disclosure requirements will be significantly reduced.

Vectura Shareholders are reminded that if they have not accepted the Offer before Vectura is re-registered as a private limited company, they would become minority shareholders in a majority controlled private limited company and, due to the reduction of liquidity and marketability of Vectura Shares, future opportunities to sell their Vectura Shares will be more limited. In addition, there can be no certainty that Vectura would pay any further dividends or other distributions to these minority shareholders or that, after the Offer has been closed, such minority Vectura Shareholders would have the opportunity to sell their Vectura Shares on terms which are equivalent to or no less advantageous than those under the Offer.

Did you accept the offer? 

It looks like if you didn’t, as above it says that you will become minority shareholders in a private limited company. I guess you’ll get a share certificate in the post at some point.

sevenhills

I have never needed to vote in the past, not sure why the default option is to hold a share in a company with few options.

I had/have 180 shares in Vectura, the last time I looked they were worth around £200

wmb194

There's an RNS from Philip Morris International that reads, "As set out in paragraph 11 of Part 1A of the Offer Document, having received acceptances under the Offer in respect of, and/or otherwise acquired, both 90 per cent. or more in value of Vectura Shares to which the Offer relates and 90 per cent. or more of the voting rights carried by those shares, PMI Bidder intends, as soon as practicable, to exercise its rights pursuant to sections 974 to 991 of the Companies Act to acquire compulsorily Vectura Shares in respect of which acceptances have not then been received."

I guess the risk is that it might not get around to it any time soon.

https://www.investegate.co.uk/philip-morris-int--0m8v-/rns/offer-update/202110010700066459N/

sevenhills

I was in the process of complaining to the regulator, when I got a letter from them.
They are now paying me £310 for my holding.

wmb194

Good news. I guess PMI finally got around to it!

sevenhills

wmb194 said:

Good news. I guess PMI finally got around to it!

From Georgeson.com not sure who they are.

wmb194

sevenhills said:

wmb194 said:

Good news. I guess PMI finally got around to it!

From Georgeson.com not sure who they are.

Apparently a company that reunites people with their money.

https://www.georgeson.com/uk/individuals/i-received-a-letter-from-georgeson/who-are-we