Inherited shares in Artesian Property Partnership

aroominyork

I have inherited 2000 shares in Artesian Property Partnership and have received a share certificate in my name. They cannot be openly traded – my understanding is that every now and then there is an option to sell them. I assume this usually happens when a large property is sold and shareholders are given the option to cash in – is that correct?

My other questions are:

-          How can I obtain an approximate valuation; would I ask the company for the last traded price and/or if they can estimate the NAV?

-          How do I calculate CGT liability if and when I sell them?

-          Are there other things I should be aware of?

Keep_pedalling

CGT would be calculated on the difference between the sale price and the value declared for probate.

aroominyork

Keep_pedalling said:

CGT would be calculated on the difference between the sale price and the value declared for probate.

Thanks. I found a valuation in the probate papers, checked it against the company's filing history and they are consistent.

wmb194

aroominyork said:

I have inherited 2000 shares in Artesian Property Partnership and have received a share certificate in my name. They cannot be openly traded – my understanding is that every now and then there is an option to sell them. I assume this usually happens when a large property is sold and shareholders are given the option to cash in – is that correct?

My other questions are:

-          How can I obtain an approximate valuation; would I ask the company for the last traded price and/or if they can estimate the NAV?

-          How do I calculate CGT liability if and when I sell them?

-          Are there other things I should be aware of?

You might get lucky but I doubt many people will be able to tell you re selling the shares as it seems to have little online presence - its own website doesn't state a company number or have a shareholder section and that name doesn't throw anything up on Companies House except saying that there are no current director appointments* for it - is that the correct name? Is there a company number on the certificate? 

http://artesian.co.uk/c/contact.php

https://find-and-update.company-information.service.gov.uk/officers/iMJ5GS2dwhu3ZsvWyYXkVPOBVmk/appointments

*It used to be a "designated member" of an LLP that's now dissolved which provided, "hotel services."

aroominyork

wmb194 said:

aroominyork said:

I have inherited 2000 shares in Artesian Property Partnership and have received a share certificate in my name. They cannot be openly traded – my understanding is that every now and then there is an option to sell them. I assume this usually happens when a large property is sold and shareholders are given the option to cash in – is that correct?

My other questions are:

-          How can I obtain an approximate valuation; would I ask the company for the last traded price and/or if they can estimate the NAV?

-          How do I calculate CGT liability if and when I sell them?

-          Are there other things I should be aware of?

You might get lucky but I doubt many people will be able to tell you re selling the shares as it seems to have little online presence - its own website doesn't state a company number or have a shareholder section and that name doesn't throw anything up on Companies House except saying that there are no current director appointments* for it - is that the correct name? Is there a company number on the certificate? 

http://artesian.co.uk/c/contact.php

https://find-and-update.company-information.service.gov.uk/officers/iMJ5GS2dwhu3ZsvWyYXkVPOBVmk/appointments

*It used to be a "designated member" of an LLP that's now dissolved which provided, "hotel services."

Its filing history is under Artesian Performer https://find-and-update.company-information.service.gov.uk/company/02651955/filing-history

wmb194

aroominyork said:

wmb194 said:

aroominyork said:

I have inherited 2000 shares in Artesian Property Partnership and have received a share certificate in my name. They cannot be openly traded – my understanding is that every now and then there is an option to sell them. I assume this usually happens when a large property is sold and shareholders are given the option to cash in – is that correct?

My other questions are:

-          How can I obtain an approximate valuation; would I ask the company for the last traded price and/or if they can estimate the NAV?

-          How do I calculate CGT liability if and when I sell them?

-          Are there other things I should be aware of?

You might get lucky but I doubt many people will be able to tell you re selling the shares as it seems to have little online presence - its own website doesn't state a company number or have a shareholder section and that name doesn't throw anything up on Companies House except saying that there are no current director appointments* for it - is that the correct name? Is there a company number on the certificate? 

http://artesian.co.uk/c/contact.php

https://find-and-update.company-information.service.gov.uk/officers/iMJ5GS2dwhu3ZsvWyYXkVPOBVmk/appointments

*It used to be a "designated member" of an LLP that's now dissolved which provided, "hotel services."

Its filing history is under Artesian Performer https://find-and-update.company-information.service.gov.uk/company/02651955/filing-history

Have you had a look through its filings? Filed in October 2022(!), the 2021 report states a NAV of £2.07 per share on 30/09/21. It appears that its businesses struggled during Covid and it's not a good sign that it recently changed its accounting period by one day - companies do this as a delaying tactic to push back the date they need to file their accounts by a month or two.

wmb194

Ah, I see. It delisted from AIM in c.2012 because it was struggling. I wouldn't hold my breath about getting out of this one.

https://moneyweek.com/21799/artisan-moves-deeper-into-the-red-111221-0818-82560

aroominyork

Thanks wmb194. I hadn't read the Chairman's statement giving NAV of £2.07 but I came to the same conclusion since total equity was £3,395,652 (page 5) for 1,635,800 shares = £2.07 per share. Maybe I shouldn't yet plan how to spend this money!

wmb194

aroominyork said:

Thanks wmb194. I hadn't read the Chairman's statement giving NAV of £2.07 but I came to the same conclusion since total equity was £3,395,652 (page 5) for 1,635,800 shares = £2.07 per share. Maybe I shouldn't yet plan how to spend this money!

Hah hah, it's always nice when you can reconcile the numbers. That's an incredibly stale figure, though. They've been stabilising recently but in the past year or so a great many property companies have reported c.25% falls in their NAVs.