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VENTUS TWINS STRATEGY
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- 2 Lemon pips
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Re: VENTUS TWINS STRATEGY
Substantial liquidation payouts from C / 2C shares shown as pending on bank account
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- Lemon Slice
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Re: VENTUS TWINS STRATEGY
Vulgaris, thanks for posting. I will check what my platform has done. Maybe we have cleared funds before the end of the tax year.
Re: VENTUS TWINS STRATEGY
Hi folks, nothing on AJ Bell however that is par for the course in terms of this liquidation, no communications on it having been received from them.
Cheers
Cheers
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Re: VENTUS TWINS STRATEGY
HI folks, My shares are held directly - but I've not received any payments into my bank account today.
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- The full Lemon
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Re: VENTUS TWINS STRATEGY
127tolmers wrote:The liquidators have announced that the first interim distribution is due to be paid out to shareholder on or around 30 March 2022.
I shall hope to be a few quid richer tomorrow.
If the money were going into a bank account that shows pending payments, I expect it would show up today as pending. But it isn't, and I'm not even going to log in to look.
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Re: VENTUS TWINS STRATEGY
C/2C payment, shown as pending by HSBC yesterday; credited today. Am I right to think to believe that there will be one more smaller distribution at some point in the future?
Re: VENTUS TWINS STRATEGY
Hi, nothing showing for V2 ord in AJ Bell. Yes there should be a further payment on a timescale that is completely unspecified. There had better be in the case of V2 ord!
Cheers
Cheers
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Re: VENTUS TWINS STRATEGY
Letter from Begbies now turned up, with statements. First interim distribution, as just rcvd = 85p/C share. There is estimated to be a further 4p /C share pending, though this is an 'estimation'; there is no timescale stated for finalisation
Last edited by Vulgaris on March 30th, 2022, 10:00 am, edited 1 time in total.
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- The full Lemon
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Re: VENTUS TWINS STRATEGY
Banchory wrote:Hi, nothing showing for V2 ord in AJ Bell. Yes there should be a further payment on a timescale that is completely unspecified. There had better be in the case of V2 ord!
Cheers
Ditto H-L - nothing for any of the share classes I hold. Looks like the platforms are slower than the banks
Re: VENTUS TWINS STRATEGY
Interim payment now received in AJB account. AJB haven't sent on the Begbie's letter as yet.
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- The full Lemon
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Re: VENTUS TWINS STRATEGY
Still nothing in HL - logged in to check just now.
I asked them about it yesterday:
Reply came rapidly (this about 11 a.m.):
which seems rather at odds with what everyone is reporting here. Good thing cash flow isn't an issue!
I asked them about it yesterday:
I understand the liquidators of the Ventus VCTs have paid a first distribution to shareholders, that went into bank accounts of direct shareholders yesterday (March 30th).
Should I expect payment into my Fund&Share account, or do I have to do something?
Reply came rapidly (this about 11 a.m.):
Thanks for getting in touch.
I have enquired with our corporate actions team when this payment is due to be made.
The company announced this was due at the end of March, however, unfortunately we have not received a payment yet.
Once this has been received it will be distributed as soon as possible.
which seems rather at odds with what everyone is reporting here. Good thing cash flow isn't an issue!
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Re: VENTUS TWINS STRATEGY
Not sure if this will help in any discussion with H-L, but I still hold this VCT via share certificates and received the respective dividends in my bank account on the 30th March.
Re: VENTUS TWINS STRATEGY
As mentioned yesterday cash was received into AJB yesterday. What I find odd however is that AJB is either not receiving comms from liquidator or getting them but delaying or not passing them on. Normally one would expect this as a 'corporate communication'. We know liquidators have written to shareholders so the process seems broken.
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- Lemon Slice
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Re: VENTUS TWINS STRATEGY
I got the right amounts, one a day late, but the descriptions were incorrect concerning which VCT and which class.
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- The full Lemon
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Re: VENTUS TWINS STRATEGY
OK, my payments finally arrived yesterday (April 4th). Which is still a lot better than faffing about with bloomin' cheques would've been, as reported in other recent VCT windings-up.
Looking forward to news on what we may still await.
Looking forward to news on what we may still await.
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- Lemon Pip
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Re: VENTUS TWINS STRATEGY
Letter from Begbies today ( but nothing on Interactive Investor) giving anticipated final distributions as follows
Ventus
Ord 12p
C 4p
D 4p
Ventus2
Ord 27p
C 6p
D 6p
These are more or less in line with my expectations except Ven ord which i thought would be 16p, but there is a comment that there is a £500K provision for one investment in Ord shares that, if not all of it were used, would be distributed to the shareholders thus increasing the anticipated pence in the pound for Ven ord. . There are just over 16 million Ven ord shares so that comes to a maximum of 3p per share
No timetable given although comment that there is still further work to be done.
There is a copy of the liquidators receipts and payments account to 28/2/2022. I have not bothered to read this.
Ventus
Ord 12p
C 4p
D 4p
Ventus2
Ord 27p
C 6p
D 6p
These are more or less in line with my expectations except Ven ord which i thought would be 16p, but there is a comment that there is a £500K provision for one investment in Ord shares that, if not all of it were used, would be distributed to the shareholders thus increasing the anticipated pence in the pound for Ven ord. . There are just over 16 million Ven ord shares so that comes to a maximum of 3p per share
No timetable given although comment that there is still further work to be done.
There is a copy of the liquidators receipts and payments account to 28/2/2022. I have not bothered to read this.
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