@Martin Thanks for your response. A couple of follow up questions:
Whilst being allocated on 30th October, the shares aren’t expected to be listed on LSE until December. Should we therefore expect the sale to be completed on market price and cash to be received in December?
You refer to an overhaul of the process in the following months. What is the likelihood of this being completed by December, and therefore the shares being allocated upon listing instead?
I think the frustrating aspect is that T212 responses seem vague and just lead to further questions. At what point will they pay us the " cash equivalent"…will this be when the Accustem shares go to the open market?
We will do our best to be ready with the functionality of transferring shares instead of paying out cash by the end of the year and hopefully we will be able to rely on it for the execution of this event. If not, the newly issued shares will be sold at the market (once they are tradable on the exchange) and the proceeds will be distributed in the days following trade commencement.
Ok thanks for clarifying, fingers crossed it will be rolled out sooner rather than later.
Thanks, this seems a little clearer than previous responses from T212.
Thank you Peter. All we really wanted was a response that it’s being looked into so cheers for that👍🏻
I’d imagine Accustem shares will be selling like hot cakes the day they hit the market and every 1p they go up will be a £10 lost for me so it’s still kind of imperative I get shares not the proceeds of opening sales.
@PeterA Any further news on this? Some platforms have linked dummy Accustem shares with zero value up to TILS owners accounts pending their launch on the LSE when prices will be set. Are T212 progressing with sorting out something similar?
I’ve just read that one of the advisors has told somebody they will receive funds from accustem on dec 4th. can somebody elaborate please.
can we have an update 212 as you are literally messing with our money?
As far as I can see, the spin-off date is still TBA. Once it happens, we’ll liquidate Accustem stock at the market price & distribute the proceeds.
We’ll also make sure to list Accustem Sciences stock asap so that it can be purchased.
for comparison other ‘free to use’ brokers/platforms are issuing full share entitlement rather selling and giving us the proceeds.
That’s bad news. Very, very disappointing from T212. You can guarantee if it were Tesla demerging a product line that a much better result for investors would be guaranteed for T212 investors otherwise the outcry would harm the brand.
@David if we TILS investors are negatively financially impacted by the failure to provide share entitlements what exactly does T212 plan to do about it?
Can you give an update on this functionality? as it has been advised the IPO of accustem will not be until January 2021. therefore, your platform should support the issued shares as your post suggests by the end of year.
Unfortunately, we don’t have a timeline yet. We will keep you posted once we have an update.
Hi @Martin, do you have an update regarding the functionality to supply us with the accustem shares given that the IPO is expected to be in January 2021? Hopefully your developers have been able to work something out so you can supply us with the shares as other trading platforms are doing (e.g. freetrade). I have every confidence that T212 will be able to deliver the functionality rather than simply selling the accustem shares on the IPO date. Thanks in advance…
any update on this as would really rather have the accustem shares.
also when tils themselves move to the main market what happens to our shares in tils - will they still be tradeable in 212?
The previously discussed functionality is not available yet. We will do our best to implement it before Accustem becomes public.
As for the move of TILS to the main market - you will be able to keep your shares.
Please keep us updated. My ISA Account for one will remain with T212 if this is implemented before the demerger I know many others are hopeful you guys will pull it out the bag.
@Rumen Any further update Rumen?
Time is now running short and I, like many other LTH of TILS stock, do not have the cashflow available to buy at the bell Accustem stock we already hold the rights to whilst waiting for T212 to pay us for selling our shares because “computer says no”.
The functionality is not yet available. I know that you are eager to see it implemented. However, it is one of the big projects that we are working on, and we will need more time to complete it.
We will post an update here the minute it is ready.