rogerbu
Member of DD Central
Posts: 398 
Likes: 213
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Post by rogerbu on Sept 27, 2015 18:47:18 GMT
Many of us bought into AC's Convertible Shares offer via SEEDRS. We understood that we wouldn't get the Shares until the 'institutional event' took place, and that our shares would then be allocated at a discount. My expectation from AC and their CEO's (Sxxxt Lxx) SEEDRS comments at the time, was that the event should be expected within a few months. Sxxxxt Lxx (the CEO) is now stating (SEEDRS Discussion board - 13 days ago) that the he '... would currently expect share certificates ....... to be issued over the next 6-12 months' ie the share issue will probably not occur until within the 2016/17 tax year. This in turn will mean that 30% EIS Tax Refunds can only be applied to your 2016/17 Tax Year or back dated to your 2015/16 Tax Year - assuming you have sufficient 'income tax paid' headroom This will certainly screw up my tax planning. andrewholgate - Do you agree that we are likely to have to wait another year before we get shares allocated and hence be able to claim the tax refund Frustrated small investor |
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Post by mrclondon on Sept 27, 2015 19:53:00 GMT
Whilst there are undoubtedly many factors at play here, this chart of Lending Club's share price over the last 12 months may help to understand why now is probably not a good time for the AC valuation to be cast in stone by the trigger event ... AC need a higher valuation than is almost certainly achievable at the present moment to get best value for the equity they are releasing. Worth noting the slide in LC's share price started before the AC seedrs raise, and the risk of the slide continuing / deepening could / should have been taken into account when deciding whether to bid for the convertible notes. The point to become frustrated is IMO two years after the seedrs raise, when the discount has reached its capped 20% limit if the trigger event still hasn't occurred. |
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sl75
Posts: 2,092
Likes: 1,245
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Post by sl75 on Sept 27, 2015 21:26:40 GMT
AC experiences "significant further delays" with almost every other aspect of its business (new software releases, drawdowns, recoveries, high volumes of new business coming into the pipeline, etc.)
How could anyone not expect delays for this too?
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Post by msa on Sept 29, 2015 8:42:59 GMT
Many of us bought into AC's Convertible Shares offer via SEEDRS. We understood that we wouldn't get the Shares until the 'institutional event' took place, and that our shares would then be allocated at a discount. My expectation from AC and their CEO's (Sxxxt Lxx) SEEDRS comments at the time, was that the event should be expected within a few months. Sxxxxt Lxx (the CEO) is now stating (SEEDRS Discussion board - 13 days ago) that the he '... would currently expect share certificates ....... to be issued over the next 6-12 months' ie the share issue will probably not occur until within the 2016/17 tax year. This in turn will mean that 30% EIS Tax Refunds can only be applied to your 2016/17 Tax Year or back dated to your 2015/16 Tax Year - assuming you have sufficient 'income tax paid' headroom This will certainly screw up my tax planning. andrewholgate - Do you agree that we are likely to have to wait another year before we get shares allocated and hence be able to claim the tax refund Frustrated small investor There was another update on the Seedrs discussion board. When asked for which tax year one should assume the EIS benefit the answer from SL was "It is not in 2014-15. It could be in 2015-16. More news will be published shortly."
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merlin
Minor shareholder in Assetz and many other companies.
Posts: 902
Likes: 302
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Post by merlin on Sept 29, 2015 8:57:34 GMT
When the offer was launched I was in a quandary as to whether to buy big/little or not at all. Now I wish I had gone for the later but am very glad I did not go for the former. Must admit I feel just a little conned over this given all the brave statements by AC principles at the time of launch.
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
Posts: 1,428
Likes: 1,212
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Post by sqh on Sept 29, 2015 9:18:40 GMT
I suspect P2P will get a lot of media coverage when ISA's become eligible next year. That will be the best time to launch.
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bigfoot12
Member of DD Central
Posts: 1,817
Likes: 816
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Post by bigfoot12 on Sept 29, 2015 11:18:45 GMT
I suspect P2P will get a lot of media coverage when ISA's become eligible next year. That will be the best time to launch. It depends on whether or not the valuation multiples of P2P are falling faster than AC is growing?
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