Stock delisted - Clarification sought please?

🤝 Help
1

Hi,

I’m struggling to get a clear answer to this from various communications with T212 that contradict what I am being told elsewhere, so hoping I can get some clarification here :slight_smile:

Stock $PSV was suspended from NYSE a couple of months ago with the intention to be delisted, they are going through bankruptcy proceedings. They lodged an appeal and the hearing date was set for 17th Dec. A week or 2 ago, PSV withdrew their appeal.

As far as I can see, a SEC filing of form 25-NSE on 26/10 then confirmed the delisting, with the appeal hearing no longer taking place. Link here: https://sec.report/Document/0000876661-20-000982/

In my last email from T212 this morning, they said there will be no update until after 17th Dec still pending the hearing. I don’t quite understand this and am not getting a clear answer - as I understand it PSV has now been delisted officially (well the form says as of “at the opening of business on November 6, 2020”).

I note that HTZ had the same form SEC filing on 30/10, and has already been removed from ISA accounts with OTC sale possible. The date stated on their form is " opening of business on November 10, 2020", so after the date of delisting for PSV.

I don’t understand the inconsistency, and as far as I’m aware my shares are no longer eligible to be held in an ISA.

Can anyone help shed any light on this, is what T212 are saying correct and I still need to wait until after 17th Dec?

2

Hi, can anyone from T212 help with this please? Thanks

3

@Team212 @David @Martin

Hi guys, is someone able to help with this? Through email support I just get told there is a hearing on the 17th December, but when I ask for more information I don’t get answers to the questions. If the stock is delisted already, it isn’t eligible for my ISA regardless of any hearing on 17th Dec?

4

Going to give this one last bump before trying to solve a different way! Hoping to hear from someone…the stock has been confirmed as delisted

5

Hello @thorleysam,

All holders of Hermitage Offshore Services ( ex-ticker PSV) will be sent a platform message briefly with information regarding the stock.

In short, access to OTC trading will be made available for Invest accounts, while the ISA holdings will be sold at the market as a mandatory measure in order to comply with regulations, as stated by you in the above comments.

6

Thanks for the update and action in the system :slight_smile: