Hi All,
I'm new-ish to trading, hold K3 Capital (LON:K3C^B23) and would like some advice.
I noticed that shares have ceased trading and the stock is delisted as it has been taken over by a subsidiary of Sun Capital.
What happens to current share holders money - do they get the value of each share back based on the offer from the purchaser?
Thanks for bearing with me.
The company was taken over by means of a 'Scheme of Arrangement' under the Companies Act and this method is binding on all shareholders. That means that shareholders at the "effective date", which was the 14th, must be paid the money due (in this case 350p/share) within 14 days - i.e. you should get the money automatically by the 28th.
Interestingly I have my money now in a broker account, and it looks like it was credited on the 14th!
Not sure what this means but it's unexpected. Makes me wonder if they actually held the underlying shares?
