I may not be alone and LON:AMYT may not be the only example but as a shareholder I feel royally done over!
Background - good little company with some smart people invested in them including Paul Hill of VOX fame.
They are dual listed on the NAS and AIM and recently announced that they are delisting from the AIM. This followed a decent trading update. How convenient!
Result shares down 20%+ as it has created a glut of supply. Anyone with the shares in an ISA must sell them - and quickly or they will loose their tax free status.
Is the company worth 20+% less - nope! Arguably they are worth a bit more as saving s will be made. Someone will be chuckling as they pick up the shares on the cheap.
Lesson - be super cautious having dual listed shares in an ISA. It is a license for someone big to rob you!
It is in times like this that we need PI champions like Paul Scott.
Will probably buy back through a small US account I have but I know this is not an option for everyone. And if I had a ton of cash I would sweep up the supply overhang.
