PRIW - Acquired and Merged

🤝 Help
1

Hello,

I hold around ÂŁ8k of PRIW which was acquired and merged on 21st Nov. Unfortunately due to no advanced notice, I could not sell these shares before the merge.

I have been in touch with the CS via the app but they are unable to advise when my fund will be released due to the merge isn’t completed yet. CS also is unable to advise when the merge will completed as it depends on the intermediate firm.

could someone please get in touch with me to advise / update us on this matter on a regular basis? I would really hope I could have access to my own fund asap!

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2

When there are mergers, acquisitions or other similar corporate events, we wait for the official terms to be confirmed and then reflect them accordingly. We will notify shareholders via an in-app once the event is executed.

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3

thanks. I would appreciate if there’s any timeframe that could advised? it’s frustrating not knowing when the event will be executed…

4

Unfortunately, I can’t provide any timeframes. Such corporate events are beyond our control and depend entirely on the companies involved.

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5

does this mean I won’t be able to access my fund until the merge is completed?

if the merge isn’t completed in 6 months time, does that mean my £8k fund will still be inaccessible?

I certainly would hope T212 could inform us in advance to avoid me being put in such situation.

6

This is of interest to me because as the the ex-holder of Base Resources shares, I was subject to a similar situation, although I admit I was informed in advance…

In my case, the shares were suspended on 03/10/2024 at 07:00, add I received my allocated shares in Energy Fuels on 11 November.

At least I did with Trading 212. On the other hand, my other broker, iWeb, still has not delivered to me the shares to which I’m entitled. On my last telephone call, I did ask them if they were likely to want to reimburse me for any losses I had suffered as a result of share price movements during the period which they could not furnish me with these shares.

This was, how can I put it, somewhat unlikely. So in this case, Trading 212 seem to have performed admirably. I would like to suggest that, for me, the initial waiting period was frustrating, but the extra waiting period that has been imposed by iWeb is extremely aggravating.

So, based on my experience, it would seem that 6 weeks waiting is more likely than 6 months. But you do have my sympathy.

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7

thanks for sharing out your experience. I certainly hope that T212 will be able to release my fund back to me in due course.

when you said you were informed in advance, were you informed by iWeb or T212?

8

On the 26th of August, I got a notification of corporate action. This came from iWeb, but I had knowledge beforehand due to keeping an eye on all the news for all the shares that I own.

This is what I got:-

#### BASE RESOURCES LIMITED NPV DI - Important Information

Scheme of Arrangement.

0.0260 of a New Energy Fuels (Energy) common share for each Existing Base Resources Limited DI (Base) share held.

As you’re receiving new shares from a US-incorporated company, you’ll need to complete either a W-8BEN or a W-9 Form, based on your tax status. You can find both forms on our website, ask for them through our web chat, or call our Contact Centre. If you already have a valid form, you don’t need to do anything.

Base also intends to pay an unfranked Special Dividend of AUD0.065 per Base share held on 18th September 2024. Payment of the Special Dividend is dependent on a number of factors and will be conditional on the Scheme becoming effective.

On 22nd April 2024, Base Resources Limited (Base) and Energy Fuels Inc (Energy) entered a binding scheme implementation deed (SID). Pursuant to which Energy Fuels has agreed to acquire 100 percent of the issued shares in Base by way of Scheme of Arrangement (the Scheme).

The Board of Base considers the terms of the Acquisition to be in the best interests of the Shareholders on the basis that it is both fair and reasonable.

The Scheme is subject to shareholder approval at a Scheme Meeting to be held on 5th September 2024, and Court approval at a Second Court Hearing to be held 12th September 2024.

Following approvals, the Base DIs will be suspended from trading on AIM on 13th September 2024, therefore the last day of trading in the Base DIs will be 12th September 2024.

The Scheme is expected to become effective on 2nd October 2024.

The New Energy shares are expected to be traded on the New York Stock Exchange (NYSE) and will be issued on statements held directly with the Transfer Agent. It may take up to 4 weeks for us to receive confirmation of your New Energy holdings, once we have them we will transfer them to our international custodian to allow you to trade your New Energy shares on the NYSE. You won’t see the New Energy shares on your account until this process has been completed. We’ll write to you again when your account has been updated.

The New Energy shares will not be eligible to be held in a Sharebuilder account, if you hold your Base shares in a Sharebuilder, we’ll credit the New Energy shares to your Sharedealing account. If you don’t have a Sharedealing account, we will open one for you. We won’t issue any fractions of shares. Entitlements to New Energy shares will be rounded down and any resulting cash entitlements will be handled in line with our Terms and Conditions.

The Special Dividend is expected to be paid on or after 1st October 2024. Your account will be creditedcredited according to the dividend handling instructions set up on your account.

9

Sorry, I forgot to make it clear that I held Base Resources shares both in iWeb and in Trading 212. Because of my knowledge of the ongoing corporate action, I didn’t really pay too much attention to what Trading 212 were actually up to. It will be interesting in the future to see how trading 212 deals with corporate actions like these.

10

thanks. and since T212 doesn’t provide any news on upcoming corporate actions/events, do you mind where you would normally be able to get it from?

I only want to avoid putting myself in a similar situation in the future just would be great if I could kind of know this in advance.