Post by lofty on Sept 18, 2023 22:14:50 GMT
Apologies if this is posted in the wrong forum, but I have a query about shareholder drag notices/
A company I have some shares in via CrowdCube has just been acquired by a bigger fish and they've issued a drag notice for all shares. I understand the meaning, and am quite happy for the transaction to take place.
However I'm confused by the wording of next steps and actions required from me. It asks for printouts of paperwork, signing this, signing that and then to send via registered post. All that sounds a right faff - and the cost of postage would end up costing me about 10% of my shareholding! (I should have mentioned I am a small-fry investor here, in for the total of only thirty quid!)
The letter also says that if I do nothing, then the drag notice applies and they'll do it all anyway! Am I missing something obvious here or is my best course of action to just do nothing and wait for a payment to come through?
How would that payment be received - I'm not sure they have my bank details, but the name and address on the share certificate is up to date.
Many thanks
(Just for fun, I also posted an identical query on chatgpt - it did a very eloquent response that basically translated as 'dunno' - AI still has some way to go)
A company I have some shares in via CrowdCube has just been acquired by a bigger fish and they've issued a drag notice for all shares. I understand the meaning, and am quite happy for the transaction to take place.
However I'm confused by the wording of next steps and actions required from me. It asks for printouts of paperwork, signing this, signing that and then to send via registered post. All that sounds a right faff - and the cost of postage would end up costing me about 10% of my shareholding! (I should have mentioned I am a small-fry investor here, in for the total of only thirty quid!)
The letter also says that if I do nothing, then the drag notice applies and they'll do it all anyway! Am I missing something obvious here or is my best course of action to just do nothing and wait for a payment to come through?
How would that payment be received - I'm not sure they have my bank details, but the name and address on the share certificate is up to date.
Many thanks
(Just for fun, I also posted an identical query on chatgpt - it did a very eloquent response that basically translated as 'dunno' - AI still has some way to go)
