(Civitas Social Housing) CSH

Hi with CSH being acquired can owners of the stock cash in the position or will T212 do it?

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Details about the event are still pending. Once there’s concrete news, we will inform the shareholders about the course of action.

I am waiting on this also, I’m presuming positions will be liquidated at 80p

Hi has there been any movement, CSH was delisted from the LSE back on 4th August

Hey, everyone :wave:

We’re still waiting for the final details to be confirmed when it comes to the acquisition of CSH. Rest assured that we’re keeping a close eye on the event and will let you know as soon as we have any news :pray:

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Did CK Hutchison buy these out?

Any update on this? I have read that freetrade have already sorted it.

Fed up with the interminable wait for this to be resolved, I approached the parties concerned in this deal for some clarification. I received this:

Dear [Reged],

Thank you for your email.

I can confirm 980 notices were issued to holders on the 14th July 2023. This has since expired. If your trading platform have told you are waiting to hear from us they will need to get in touch to make a claim for there [sic] holders.

For more information

If you have any questions, please call us on 0371 664 9278, calls are charged at the standard geographic rate and will vary by provider. Calls outside the United Kingdom will be charged at the applicable international rate. We are open between 09:00 - 17:30, Monday to Friday excluding public holidays in England and Wales.

Yours sincerely

Graham Blois
Administrator, Registration Services
Link Group, Central Square, 29 Wellington St, Leeds LS1 4DL

So come on T212, pull your finger out!

So I sent a copy of that letter to T212 and all I got back was “You can rest assured that we will notify all shareholders when the terms of the acquisition are disclosed by the company itself.”

But I couldn’t rest assured so I have sent T212 the following letter:

24 Oct 2023, 17:05 EEST

It seems clear to me you are not monitoring the situation anywhere near closely enough. You say “we will notify all shareholders when the terms of the acquisition are disclosed by the company itself.”

The terms of the deal were set out on May 9 2023:

On June 9 the Unconditional Date of the offer was brought forward "in order to provide Civitas Shareholders with an exit opportunity within a shorter timetable… " Ha!

On June 23 the offer was declared Unconditional:

On July 14 a notice set out how the compulsory acquisition of Civitas shares would take place:

As confirmed to me in the letter I quoted to you before, the formal compulsory acquisition notices were sent out that same day. Whoever holds my and others’ shares through Trading 212 must have received such a letter. There was a deadline of 6 weeks for acceptance - it is now more than 14 weeks!

The notice states: "Civitas Shareholders should note that if they accept the Offer they will receive the Cash Consideration in respect of their Civitas Shares within 14 days of such acceptance. However, for any Civitas Shares which CK Bidco compulsorily acquires, the relevant Civitas Shareholders will need to make a written application to Link Group, Dissentient Team, accompanied by the requisite documentation, in order to receive their Cash Consideration … "

That is what was stated in the letter I sent you. In other words, it is no good you or your agents waiting for someone to contact you. You have to contact them!

For more than 11 weeks I have had no shares and nothing to show for the ones I once had.


What I forgot to point out to them was that in the Unconditional declaration of June 23 it states that “The offer document containing the full terms of, and Conditions to, the Offer (the “Offer Document”) was published and sent to Civitas Shareholders on 22 May 2023.”

So, despite claiming they are still waiting to know the terms of the deal, they were sent the terms in May!

Thanks for this info, I am getting annoyed now as I am waiting for a substantial amount. This doesn’t fill me with confidence for any future acquisitions. 11 weeks is a long time especially with the current base rate, and looks to me like negligence.

I too am waiting for this to be resolved. I sent a link to that notice linked above to trading212 to ascertain what was happening with the shares as action was needed to initiate the payout and that I couldn’t do that through the platform. I was told there was nothing to worry about as it was being dealt with however 4 months later and no updates.
It doesn’t seem right that these funds are being held in a state where they can’t earn interest or be reinvested, at least not by the rightful owners anyway.

It’s IBKR who seem to be sitting on their hands over this. I might have a go at them next.

This is the latest I’ve got from T212.

"We are yet to receive any proceeds from our intermediary- IBKR, and we’ve emailed them for further information.

As an execution-only broker, we replicate the behaviour of our Intermediary, and external corporate actions are beyond our control.

The event is with status pending, and we won’t be able to proceed further until this changes."

Hi any more news on this from T212.

If it is the case with IBKR have T212 been pushing IBKR to sort it out?

Hi has T212 made any headway pushing IBKR to resolve the issue with the CSH stock?

Best Regards

Any news on CSH Stock, I can see it’s been raised a few times in the past. Anyone has a resolution on it.

Quick update, everyone - we have received official information for the event. As per the terms of the deal, positions will be closed at GBP 0.80/per share. We’ll send an in-app notification to all shareholders once the event is reflected :pray:

Thanks for the update, do we have timelines for when this will be completed? It’s been over 3 months since an update.

Yes, seems like I missed mentioning that in my initial reply. We will reflect the event later today :raised_hands:

Thanks for the update.

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