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VENTUS TWINS STRATEGY

Sophisticated and complex high-risk tax-sensitive investments in small companies: handle with care
Banchory
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Re: VENTUS TWINS STRATEGY

#494402

Postby Banchory » April 14th, 2022, 8:55 pm

Thanks cprof. Temporis said it would take about a month for the final distribution to be made:
'It will be a month or so before the issue with the security can be resolved and distribution made. Unfortunately, the bank is moving very slowly on this. We are doing everything we can to speed the process along'.
The V2 ord payment you intimate is a bit more than I was expecting so that is good news. I have heard nothing from liquidator or via AJB.

UncleEbenezer
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Re: VENTUS TWINS STRATEGY

#494428

Postby UncleEbenezer » April 14th, 2022, 11:35 pm

Banchory wrote:Thanks cprof. Temporis said it would take about a month for the final distribution to be made:
'It will be a month or so before the issue with the security can be resolved and distribution made. Unfortunately, the bank is moving very slowly on this. We are doing everything we can to speed the process along'.
The V2 ord payment you intimate is a bit more than I was expecting so that is good news. I have heard nothing from liquidator or via AJB.

Is that current news? A month from now sounds like a good result!

Banchory
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Re: VENTUS TWINS STRATEGY

#494430

Postby Banchory » April 14th, 2022, 11:42 pm

Hi, it was a few days ago. Cheers

Banchory
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Re: VENTUS TWINS STRATEGY

#498224

Postby Banchory » May 3rd, 2022, 4:25 pm

The liquidators have just released a statement on the payment and timing of the expected final distributions. https://www.ventusvct.com/pdf/liquidati ... _may22.pdf
So we are now looking at end May. Quite a difference from the January intimation with a small (10%) retention into Feb.

UncleEbenezer
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Re: VENTUS TWINS STRATEGY

#498241

Postby UncleEbenezer » May 3rd, 2022, 5:53 pm

Banchory wrote:The liquidators have just released a statement on the payment and timing of the expected final distributions. https://www.ventusvct.com/pdf/liquidati ... _may22.pdf
So we are now looking at end May. Quite a difference from the January intimation with a small (10%) retention into Feb.

Thanks for posting. You're faster than my RNS feed!

As I read it, that's two more distributions, and it's only the first (to ords, particularly V2) that they hope to complete by the end of May. I didn't find a date for the final small distribution to all share classes.

baronspill
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Re: VENTUS TWINS STRATEGY

#503984

Postby baronspill » May 31st, 2022, 12:36 pm

Banchory wrote:The liquidators have just released a statement on the payment and timing of the expected final distributions. https://www.ventusvct.com/pdf/liquidati ... _may22.pdf
So we are now looking at end May. Quite a difference from the January intimation with a small (10%) retention into Feb.


It's now the end of May and no distribution received. I wonder what the hold up is...

Banchory
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Re: VENTUS TWINS STRATEGY

#504057

Postby Banchory » May 31st, 2022, 6:53 pm

That's right. You'd think, having stated that the distribution was to be made before the end of May, that when that became unlikely the liquidators would have been professional enough to send an update.
I emailed the liquidators yesterday asking whether the distribution was going to be made today. No answer as yet.

Karellan
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Re: VENTUS TWINS STRATEGY

#504502

Postby Karellan » June 2nd, 2022, 8:34 pm

baronspill wrote:It's now the end of May and no distribution received. I wonder what the hold up is...


You should try waiting for a distribution from a failed p2p company. This is lightning fast.

Banchory
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Re: VENTUS TWINS STRATEGY

#505377

Postby Banchory » June 6th, 2022, 4:27 pm

Still no statement as to when this further 'interim' payment will be made. I had expected something today when presumably Temporis and the Liquidator are back at work. Anyone heard anything?

dsc11
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Re: VENTUS TWINS STRATEGY

#505653

Postby dsc11 » June 7th, 2022, 9:43 pm

Hi -

Today I got a reply to an email I sent last week.
This is from Samantha Cracknell at Begbies Traynor:

"We are working with Temporis Capital to arrange an interim distribution towards the end of this month. There will also be an update made on the Ventus website shortly with details of the amount and timing of the distribution."

So hopefully more clarity on the website soon and this gets wrapped up at last ...

Regards

Banchory
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Re: VENTUS TWINS STRATEGY

#505655

Postby Banchory » June 7th, 2022, 9:51 pm

Thanks, I got a reply from Temporis: 'Sorry not to get back to you sooner. The proceeds from Achairn took longer to release than expected. However, the liquidator received the money at the end of last week. We are now working with the liquidator to make a distribution as soon as possible. There will be an update made on the Ventus website shortly with details of the amount and timing of the distribution'.

UncleEbenezer
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Re: VENTUS TWINS STRATEGY

#506497

Postby UncleEbenezer » June 11th, 2022, 1:11 pm

It occurs to me, my primary source of information (other than Lemonfool) is RNS notices.

When a company like Ventus winds up, how long can we expect RNS to be available? Do the liquidators have any obligation to share news? If not RNS, is there another source, or (short of actively hassling the companies and/or liquidators) do I just have to rely on Lemonfool?

Banchory
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Re: VENTUS TWINS STRATEGY

#507471

Postby Banchory » June 15th, 2022, 7:35 pm

Temporis/Liquidators have just announced (Ventus website) a further distribution 29th June 22 (the table erroneously states 22 June: they are going to change that)

Vulgaris
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Re: VENTUS TWINS STRATEGY

#510157

Postby Vulgaris » June 28th, 2022, 8:36 am

Final payment on liquidation of 'C' shares shown by HSBC as being credited tomorrow.

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Re: VENTUS TWINS STRATEGY

#510956

Postby Vulgaris » June 30th, 2022, 6:23 pm

Paperwork rcvd today from Begbies. Anticipated there'll be a further payment for both Ventus & Ventus 2 -- 2.5p for ords, 1.5p for C, 1p for D. No date given.

Banchory
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Re: VENTUS TWINS STRATEGY

#511012

Postby Banchory » June 30th, 2022, 10:06 pm

Yes V2 Ord dividend received by AJB.

UncleEbenezer
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Re: VENTUS TWINS STRATEGY

#511030

Postby UncleEbenezer » July 1st, 2022, 12:05 am

Heh.

Nothing at H-L yet. Once again, looks like they're behind everyone else in paying us the proceeds.

Seasider
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Re: VENTUS TWINS STRATEGY

#511213

Postby Seasider » July 1st, 2022, 6:13 pm

Should be there now


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