API wind-down?

[mtk62]

My API holding is within my SIPP.
I assume that the money paid out will stay within the SIPP?
Once I get I'll simply top up my new holdings.

[Seasider]

You may want to check with the SIPP provider to see if they allow it. Mention that it is a listed company which will be put into liquidation and you may be getting more than one payment.

[fisher]

In my recent experience of a company Liquidation and delisting the proceeds of the liquidation have so far been credited to the ISAs that the shares were in.

I held shares in EPIC (Ediston Property Investment Company) across two ISAs - one with x-o, the other with iWeb. EPIC wound themselves up in February 2024 and appointed a liquidator. The initial (main) liquidation payment was made on 08/02/24 (ex date was 06/02/24), the shares were delisted on 07/02/2024. A further liquidation payment was made on 30/09/24 and there will be a final one expected sometime in 2025.

All of the payments made so far have been credited to my ISA accounts.

The two brokers have used different mechanisms. x-o removed the shares from my ISA when they were delisted but informed us that they held an off-line record of our entitlement. iWeb removed the shares from the ISA a while after they were delisted and they now show in my General Investment Account (non-ISA). Regardless of this the initial payment from February and the more recent payment made in September have been credited to my ISA accounts by both the brokers.

I would check with your own broker if you are concerned, but certainly my experience is that although the shares are delisted and no longer eligible for holding in an ISA, the subsequent liquidation payments that are made count from when the shares were in the ISA. Perhaps the ex. date of 06/02/24 for shares delisted on 07/02/24 explain this.

[mtk62]

Many thanks for the responses.

I checked with AJBell and they said the money would return to my SIPP.
This seems logical to ensure that the money stays locked in the SIPP.

Otherwise a loophole would be buying dodgy companies to liberate the cash.

[kempiejon]

Have I got this about right,
NAV 80p a year ago. Shares available for 50p about this time.
The assets are to be sold (agreed) for £351m to Goldentree. 10% deposit paid.
This is equivalent to 64p per share.
NAV had been up in 75p range but most recently reported as 65p.
Estimated NAV 72.97p (who estimates this?)
There's a penny in divs shortly, xD next week pay end of month.
I guess a final dividend, assuming the sale concludes, no other div declared.
There will be some costs involved in the deal so the 64p is not a fixed amount,
Shares trade at about 61.5p today.

This should conclude in early 2025 to realise the full amount per share - probably 64p when the company winds up and API delisted.

[Stolenscone]

Portfolio sale complete. Just the woods left to go.

https://www.londonstockexchange.com/new ... e/16789147

[mtk62]

The RNS states "make substantial returns of capital by early January 2025".

Regarding Far Ralia - we're not out of the woods yet.