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Chrysalis VCT: liquidation

Sophisticated and complex high-risk tax-sensitive investments in small companies: handle with care
127tolmers
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Re: Chrysalis VCT: liquidation

#454771

Postby 127tolmers » November 1st, 2021, 11:47 am

I wonder why the 29 October update says that the Coolabi deal has not completed for Chrysalis. It certainly did for Edge in July whose shareholders have had 70% of the proceeds paid out as dividends; only limited by Edge's distributable reserve position.

wilwak9
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Re: Chrysalis VCT: liquidation

#454836

Postby wilwak9 » November 1st, 2021, 2:36 pm

The circular seems to imply that Edge sold their holding to a different investor to the one Chrysalis is selling to.

Kidman
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Re: Chrysalis VCT: liquidation

#455153

Postby Kidman » November 2nd, 2021, 2:47 pm

The Chrysalis/Edge difference may be down to equity versus loans.
From memory a large part of the CYS holding was debt rather than equity and I think that got novated to the new owner of Coolabi. Hence the share part may have paid out but not the debt part.

wilwak9
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Re: Chrysalis VCT: liquidation

#455193

Postby wilwak9 » November 2nd, 2021, 5:36 pm

Yes. Makes perfect sense.

I wonder what the repayment terms were on the loan

yorkshirelad1
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Re: Chrysalis VCT: liquidation

#460506

Postby yorkshirelad1 » November 24th, 2021, 10:12 am

Payment (distribution) (10p/sh) arrived in my bank account this morning (24 Nov 2021). Fairly impressed with the speed and efficiency of the payment. Haven't seen any other notification (e.g. similar to e-mail when a dividend is paid), but not sure if there'll be a separate notification today but notification was in the letter dated 29 Oct 2021 (available from https://www.downing.co.uk/existing-investor/chrysalis-vct via a link at the bottom of that page)

yorkshirelad1
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Re: Chrysalis VCT: liquidation

#460515

Postby yorkshirelad1 » November 24th, 2021, 10:56 am

yorkshirelad1 wrote:Payment (distribution) (10p/sh) arrived in my bank account this morning (24 Nov 2021). Fairly impressed with the speed and efficiency of the payment. Haven't seen any other notification (e.g. similar to e-mail when a dividend is paid), but not sure if there'll be a separate notification today but notification was in the letter dated 29 Oct 2021 (available from https://www.downing.co.uk/existing-investor/chrysalis-vct via a link at the bottom of that page)


I spoke too soon. Postie's just called and letter from Chrysalis / City Partnership (sadly, not e-mail, but heyho, and probably too complicated to stitch an e-mail together with all the bits involved). (I think I have removed my personal details, cut out, from the info below, but if anyone sees any of my personal identifiable details still on it or retrieveable from it, please let me know: I wanted to post the whole item for everyone's benefit, which necessitated including the document with my personal info having hopefully cut personal info out IYSWIM)

https://imgur.com/twYq8Sd

Image

wilwak9
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Re: Chrysalis VCT: liquidation

#460517

Postby wilwak9 » November 24th, 2021, 11:13 am

Thanks for sharing the letter. Much appreciated.

Our shares are held in a Barclays nominee account so we don’t receive correspondence and no doubt it will take them a week to allocate the payment to us!

Let’s hope there’s a lot more to come once Coolabi completes.

BusyBumbleBee
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Re: Chrysalis VCT: liquidation

#460812

Postby BusyBumbleBee » November 25th, 2021, 12:24 pm

I received cheques in the post yesterday for some holdings but have not had notifications from A J Bell of monies received by them for other holdings.

Why so many holdings? Well, Chrysalis itself is a result of many mergers and I also bought a lot at bargain basement prices in the open market.

wilwak9
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Re: Chrysalis VCT: liquidation

#460814

Postby wilwak9 » November 25th, 2021, 12:30 pm

Same here Busy

Nothing in to Barclays yet.

I’ve had a couple of ‘liquidations’ in the past on shares that had suspended listings and payments took far longer than they should to be allocated to accounts.

scotia
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Re: Chrysalis VCT: liquidation

#460826

Postby scotia » November 25th, 2021, 1:07 pm

Chrysalis held in certificated form - Cash in Bank account on Monday. That's a lot more convenient than the cheques from the Artemis liquidation.
But with Monday and Tuesday postal deliveries now past, there has been no accompanying postal communication

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Re: Chrysalis VCT: liquidation

#460892

Postby yorkshirelad1 » November 25th, 2021, 4:15 pm

scotia wrote:Chrysalis held in certificated form - Cash in Bank account on Monday. That's a lot more convenient than the cheques from the Artemis liquidation.
But with Monday and Tuesday postal deliveries now past, there has been no accompanying postal communication


The payment date on the 10p distribution was 24 Nov (yesterday, Wednesday) so you seem to have got the early bird :-) ?

scotia
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Re: Chrysalis VCT: liquidation

#460903

Postby scotia » November 25th, 2021, 4:40 pm

yorkshirelad1 wrote:
scotia wrote:Chrysalis held in certificated form - Cash in Bank account on Monday. That's a lot more convenient than the cheques from the Artemis liquidation.
But with Monday and Tuesday postal deliveries now past, there has been no accompanying postal communication


The payment date on the 10p distribution was 24 Nov (yesterday, Wednesday) so you seem to have got the early bird :-) ?

Its old age! I should have said Wednesday for the receipt of the payment, and I should have said Wednesday and Thursday for the non-receipt of a postal notification. :oops:
So I'm now confident today is Thursday - thanks for the reminder. My only excuse is that there was a Pembroke div on Monday 22nd, the Chrysalis payment on the 24th, and there will be Amati and Maven 5 divs on Friday 26th. Clearly too much excitement in one week!

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Re: Chrysalis VCT: liquidation

#461085

Postby scotia » November 26th, 2021, 10:49 am

Paperwork for the Chrysalis liquidation payment (of 24/11/21), the Amati Div (of 26/11/21) and the Maven 5 Div (of 26/11/21) all arrived in the post today - all from the City Partnership, and in 3 separate envelopes. Chrysalis payment in Bank account on 24/11/21, and the two VCT Divs in Bank account on 26/11/21.
I hope I have got the dates correct this time :)

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Re: Chrysalis VCT: liquidation

#461091

Postby wilwak9 » November 26th, 2021, 11:01 am

MIG5 and Chrysalis both held in Barclays nominee.

No money yet from either for me.

Maybe they receive the Chrysalis funds by cheque?

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Re: Chrysalis VCT: liquidation

#461997

Postby wilwak9 » November 30th, 2021, 9:15 am

All received at Barclays yesterday.


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