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Provisional announcement of bankruptcy A.D.A.M. SA
Debtor
A.D.A.M. SA
CHE-114.005.079
Route du Nant-d'Avril 150
1217 Meyrin
Date when bankruptcy proceedings were opened: 05.06.2024
Can't seem to get the link to work, Iwant could you please just give us an idea of what it says? Even though I have a feeling I know already, thanks.
Https://shab.ch/#!/search/publications/detail/eb96c3c2-ae0c-461b-a1e2-8fb0474a8619
Gone !?!?
So sad to see this project falter on the home straight.
This technology could have been a game changer and God knows we need some revolutionary treatments in the ongoing battles against cancer.
My hope now is that someone with deep pockets picks this up and hurries it over the line. There are desperate people waiting for treatments like this.
It will be interesting to see if this technology can be brought into operation with a few expensive tweaks, or if there is some fundamental, insurmountable issue that has not been divulged to investors.
It's been an interesting but costly ride. Adios AVO!
Closing date for any offers 5pm tomorrow. What a shame that they couldn't get this over the line under the existing company structure, plenty of questions regarding company management but at the end of the day a potentially great opportunity missed. As an investor I was sold on the concept and the future benefits to patients as well as the financial potential, but that is now over. Good luck to anyone picking up the assets / IP.
I guess it is finally the end of the road
https://www.hilcovs.co.uk/sale-list/oncotherapy/
Farewell fellow shareholders clearly a casualty of the defunct AIM market.
Compulsory strike off... Not company strike off.
autocorrection was too fast
Good news, perhaps still a chance. Today the company strike off has been suspended
Broomtree, if you follow the link that I posted here on May 15, you will find a new PDF that mentions a two-month deadline.
Haven’t seen anything published but HL removed holding today saying doesn’t have a listing?
Not sure what the exact state of play is as the date I seen for possible finance was end of May?
Thanks Meldrew, I fear you are correct, cheers!
AVO has been lying in a coffin since today and is waiting to be cremated on 21 July, unless a miracle happens before then and the BoD wakes up from its coma.
PM44
I believe that everything that happened while the shares were in our ISAs will have no impact on profits outside our ISAs. It's only what happens to the AVO shares now they're outside outside our ISAs that will have an impact on our investments outside our ISAs.
It's only my opinion, so I could be wrong.
Many thanks Kenj, I am a bit doubtful about survival but if it does survive it will be a bonus. My concern was that the loss was made within the isa and that, I believe is not allowed against profit elsewhere? But having been transferred to a share dealing account, I am now not sure of the rules. Cheers.
Thinking about this again, I am not 100% certain that this loss can be carried over to the dealing account. However, if HL have transferred the shares from your ISA to a share dealing account, then they have effectively transferred the loss as well. Unless this is clarified to the contrary, you have little to lose by submitting the loss. If it is wrong then HMRC can reject it. It is hardly a tax fraud.
PM44,
Yes, you can use the loss to reduce any capital gains you make in this tax year, once the company is officially listed as deceased by the HMRC. Don't jump the gun though. They have only been removed from AIM. They have not been declared insolvent yet. There is still a small chance that they could pull a rabbit out of the hat.
If you make no capital gains this year, the loss can be carried forward to offset gains made in future years. There is no limit on how many years the loss can be carried forward, but you will need to keep a record of any carried forward losses, as HMRC do not display this on next years tax submission.
Profit? No such luck! But if it's transferred out of the isa, could I use the capital loss to reduce any tax gains?
No implications because the company is going bust and there will be no payout to shareholders. If there is a miracle and the company is saved and you sell shares at a profit then capital gains tax
Compulsory strike off is likely due to not submitting accounts or other required documents. They need to submit these documents to prevent the strike off.
Does anyone know the tax implications implications, if any?
We can confirm that Advanced Oncotherapy plc shares have now been delisted from AIM as of 9 May 2024.
Important Information for ISA holders
As a result of the delisting, the Advanced Oncotherapy plc shares do not meet the HMRC rules to be held within an ISA and must therefore be removed from your ISA.
To continue to hold these shares on our platform they will need to be moved into a Fund & Share Account. If you already have an active Fund & Share Account, you don’t need to do anything – we’ll automatically move your holding. If you don’t have a Fund & Share Account, we’ll automatically place your holding into an inactive version after Tuesday 4 June 2024, which you can subsequently activate by following the same account opening procedure as below.
And again, nothing from the BoD.
21 May 2024 First Gazette notice for compulsory strike-off
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