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Artemis

Sophisticated and complex high-risk tax-sensitive investments in small companies: handle with care
scotia
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Re: Artemis

#361626

Postby scotia » November 30th, 2020, 10:46 pm

ali1947fish wrote:Scotiaq-Is this good,bad or indifferent!

This was a new share purchase in April 2005 with 40% tax return
Followed by a partial (about 50%) Enhanced Buy Back with further tax return in Feb 2012
So assuming a final payment of around 4.4p by May 2015, I have estimated a total (capital plus dividends) annual rate of return (XIRR) of about 10.2%. Without the tax returns this would be around 4.3%.
A satisfactory investment.

scotia
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Re: Artemis

#361627

Postby scotia » November 30th, 2020, 10:50 pm

thebarns wrote:Only downside is that they have sent me a cheque instead of the previous method whereby it was paid direct into my bank account, which is I suppose unfortunately understandable now that the liquidator rather than the previous directors and management that are now in charge of the distribution process.

I’ll take my life in my hands and visit a bank !

Yes - I have the same problem, but earlier this year I discovered a way of getting a cheque into my RBS account by mail. So I'll repeat the process and keep well clear of the bank (I live in a Scottish Tier 4 area).

thebarns
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Re: Artemis

#362167

Postby thebarns » December 2nd, 2020, 1:03 pm

Just in case this assists any others not wishing to visit the bank to deposit a cheque......

I was moaning to my wife, again, that I would have to go to the bank to pay in the cheque from the Artemis liquidator.

She then explained to me that all I had to do was download the bank App, which I did, and use its facility to pay in cheques by taking a photo of the cheque.

This I did and remarkably, to me, it worked !

Painless, maybe the vaccine can be administered in exactly the same way !

UncleEbenezer
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Re: Artemis

#362172

Postby UncleEbenezer » December 2nd, 2020, 1:07 pm

thebarns wrote:Painless, maybe the vaccine can be administered in exactly the same way !


You'll need to upgrade your phone for that. Kerching!

scotia
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Re: Artemis

#362716

Postby scotia » December 3rd, 2020, 9:19 pm

thebarns wrote:Just in case this assists any others not wishing to visit the bank to deposit a cheque......

I was moaning to my wife, again, that I would have to go to the bank to pay in the cheque from the Artemis liquidator.

She then explained to me that all I had to do was download the bank App, which I did, and use its facility to pay in cheques by taking a photo of the cheque.

This I did and remarkably, to me, it worked !

Painless, maybe the vaccine can be administered in exactly the same way !

Yes - any modern bank should be able to offer such a service. But RBS specifically states that it can't. As a sop to those currently isolating they provide a postal service. Possibly better than carrier pigeon.

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Re: Artemis

#362759

Postby thebarns » December 3rd, 2020, 11:21 pm

Tut tut RBS.......

Especially as I bank with that other well known Scottish bank !

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Re: Artemis

#362838

Postby UncleEbenezer » December 4th, 2020, 10:10 am

thebarns wrote:Tut tut RBS.......

Especially as I bank with that other well known Scottish bank !

Is Clydesdale still independent?

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Re: Artemis

#362900

Postby thebarns » December 4th, 2020, 12:32 pm

Ok, I”ll be more accurate and change that to

“Especially as I bank with that other well known Scottish bank brand” !

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Re: Artemis

#363005

Postby martinc » December 4th, 2020, 6:06 pm

My cheque was a few pounds over the limit for paying in by mobile phone, so I paid it in at a branch. There is no form to fill in these days, just hand over the cheque with a debit card and they have a little machine which photographs the cheque and issues a receipt.

scotia
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Re: Artemis

#366121

Postby scotia » December 14th, 2020, 3:54 pm

martinc wrote:My cheque was a few pounds over the limit for paying in by mobile phone, so I paid it in at a branch. There is no form to fill in these days, just hand over the cheque with a debit card and they have a little machine which photographs the cheque and issues a receipt.

To continue the paying-in-a-cheque to RBS without going to a physical Bank:-
Following the RBS instructions for paying in a cheque by post, the cheque, plus a pay-in slip was sent by first class post to the appropriate (NatWest) address on the 1st December - but it has still not arrived in our account. Since the RBS sent both my wife an myself emails on how they wanted to help us over 60s (I assume over 70s are also included) in this time of Covid-19 stress, they provided us with a helpline telephone number. But this proved useless - basically the response was that they don't know, and maybe we should allow 5 working days for first class post, and five working days for them to process the cheque, and adding all that up with weekends, it means that it could possibly happen by tomorrow. That , of course, implies that they had received the cheque. Unfortunately our telephone helper could not determine whether or not that was the case. When asked why the cheque could not be scanned in using their app, they said that they had already forwarded that request from other customers.

scotia
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Re: Artemis

#366414

Postby scotia » December 15th, 2020, 11:53 am

We have given up with RBS and the disappearing cheque. The next step was to phone Equiniti - who issued the cheque. We pointed out that they had our bank details, to which they sent the dividends. However they maintain that they are not authorised to distribute the winding-up funds by any means other than a cheque. So they will send another cheque!!!!!

AJC5001
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Re: Artemis

#366582

Postby AJC5001 » December 15th, 2020, 11:48 pm

scotia wrote:We have given up with RBS and the disappearing cheque. The next step was to phone Equiniti - who issued the cheque. We pointed out that they had our bank details, to which they sent the dividends. However they maintain that they are not authorised to distribute the winding-up funds by any means other than a cheque. So they will send another cheque!!!!!


Why not pay it in at a Post Office? https://www.postoffice.co.uk/default/the-royal-bank-of-scotland
"Cheque deposit: Yes – with personalised paying in slip and Royal Bank of Scotland deposit envelope from Post Office"

Assuming you have a personal paying in slip, of course. :)

Adrian

scotia
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Re: Artemis

#366666

Postby scotia » December 16th, 2020, 10:18 am

AJC5001 wrote:
scotia wrote:We have given up with RBS and the disappearing cheque. The next step was to phone Equiniti - who issued the cheque. We pointed out that they had our bank details, to which they sent the dividends. However they maintain that they are not authorised to distribute the winding-up funds by any means other than a cheque. So they will send another cheque!!!!!


Why not pay it in at a Post Office? https://www.postoffice.co.uk/default/the-royal-bank-of-scotland
"Cheque deposit: Yes – with personalised paying in slip and Royal Bank of Scotland deposit envelope from Post Office"

Assuming you have a personal paying in slip, of course. :)

Adrian

Yes - we have personal paying in slips, but the post office solution simply adds a further level of complexity. We need to join a queue at our post office, request an RBS pay-in envelope, and then the post office (as far as I am aware) post it to the Bank. Presumably we then wait a further two weeks to determine whether or not RBS have received and processed it. No - with RBS it looks like the only solution is to queue at the Bank, and get immediate confirmation that they have received it.
Banks have been pronouncing for years that cheques were obsolete and will disappear. WHY has the Artemis liquidator insisted that Equiniti sends out cheques, when they already have our banking details for dividends? And WHY can RBS NOT accept a scanned-in cheque?
Both the Liquidator and RBS seem to be stuck in the stone age.

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Re: Artemis

#366685

Postby Kidman » December 16th, 2020, 11:00 am

scotia wrote:WHY has the Artemis liquidator insisted that Equiniti sends out cheques, when they already have our banking details for dividends?

I share your annoyance receiving cheques but for some reason registrars have always made capital payments by cheque. As well as liquidation payments, they refund excess IPO applications by cheque.
I have read that their argument is that it would take too much effort to verify that bank account details are correct in compliance with money-laundering regulations. That assumes that one has to give separate details for capital payments to dividends but there are many shareholders who still receive their dividends by cheque.

I note that a few companies such as Aviva are now refusing to pay dividends except direct to one's bank account so there is change on the horizon.

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Re: Artemis

#366721

Postby UncleEbenezer » December 16th, 2020, 12:55 pm

It't at times like these I feel vindicated in having moved everything to a nominee account and dispensed with registrars.

Not that I have skin in this game: never held Artemis.

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Re: Artemis

#366742

Postby dealtn » December 16th, 2020, 1:55 pm

scotia wrote:
AJC5001 wrote:
scotia wrote:We have given up with RBS and the disappearing cheque. The next step was to phone Equiniti - who issued the cheque. We pointed out that they had our bank details, to which they sent the dividends. However they maintain that they are not authorised to distribute the winding-up funds by any means other than a cheque. So they will send another cheque!!!!!


Why not pay it in at a Post Office? https://www.postoffice.co.uk/default/the-royal-bank-of-scotland
"Cheque deposit: Yes – with personalised paying in slip and Royal Bank of Scotland deposit envelope from Post Office"

Assuming you have a personal paying in slip, of course. :)

Adrian

... and then the post office (as far as I am aware) post it to the Bank. Presumably we then wait a further two weeks to determine whether or not RBS have received and processed it.


Don't see why. They would just process it through the clearing system like any other transaction. Even in the old days, when the cheques did end up back at the branch of the issuer, they would still have gone via the clearing houses, not sent directly (unless you asked for and paid for "special clearance").

scotia
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Re: Artemis

#366899

Postby scotia » December 17th, 2020, 12:00 am

An end to the Saga (hopefully). Having been advised (by RBS) to contact the issuer of the cheque if it had not arrived in our account by the 15th (14 days after it was posted), the issuer was duly phoned, and a new cheque will be re-issued.
Then later today (the 16th), when we checked our RBS account (again), we found that the payment from original cheque had now appeared, and interestingly it was dated the 15th - although when, it doesn't say.
So If another cheque arrives, we can presumably shred it.
As an aside - its interesting how enterprising individuals and companies have taken Covid-19 as a challenge, and many have successfully adapted. Eight months into the outbreak, and the RBS do not appear to be one of these.

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Re: Artemis

#391509

Postby Karellan » March 2nd, 2021, 1:15 pm

I pay any cheques that I get into the local post office in a sealed envelope now , they act as agents . Works Well for me.

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Re: Artemis

#441193

Postby cocoNut25 » September 10th, 2021, 10:13 am

Hi everybody i have been looking at this forum for some months now and found it very informative on various subjects. I was just wondering, with regard to the Artemis vct administration, has anyone heard anything more since the 14p dividend since november 2020. Thanking you in anticipation.

scotia
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Re: Artemis

#441263

Postby scotia » September 10th, 2021, 1:53 pm

cocoNut25 wrote:Hi everybody i have been looking at this forum for some months now and found it very informative on various subjects. I was just wondering, with regard to the Artemis vct administration, has anyone heard anything more since the 14p dividend since november 2020. Thanking you in anticipation.

The last communication from the liquidator was on 26th July 2021. Go To
https://www.artemisfunds.com/en/gbr/investor/funds-and-prices/notifications/artemis-vct-liquidation

and select Liquidator communication July 2021. It concludes with the message

A further update will be provided to shareholders in September 2021.


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