Apologies we’ve been trying to get some clarity before coming back on this one as we appreciate it’s a really popular holding. It’s also a particularly complex transaction - not a standard SPAC merger by any means.
We are speaking with our US provider about this and we also need to await further detail that will likely follow from the Vivendi board meeting later in June that needs to approve this deal. It’s important to note that a number of key details were not yet disclosed in the initial regulatory announcement.
As soon as we have more concrete details we’ll be in touch with shareholders. I appreciate your patience.
Thank you for the response It was the silence that was deafening and never a good sign Hopefully you have some news soon for us. Are there any of the benefits you can confirm we would get like the UMG shares?
Remainco is what’s left of PSTH after the split. Edit: so in other words - once you get the UMG shares (assuming you can via FT and they won’t just sell them and give you the cash), you’ll have PSTH and UMG. PSTH is remainco.
I haven’t heard they would/could do this which would be ok, not great but ok, from what I have seen we know nothing and that is worst case we get zero of anything except the shell (PSTH-remainco) and best we get all.
If they said at worst we will sell and give you cash it would at least be a welcome message
They already deal with stock splits (Tesla and Apple are recent examples) so I don’t think that would be an issue. The main question is what exchange the UMG shares will be on. If it’s an exchange they can’t technically support by September then I imagine the only thing they’d be able to do is sell them and pass on the cash (basically the same as with warrants).
It would just be nice if they could say that that’s what will happen in the worst case.
Yep totally agree even if they said this is the worst case scenario I, and I imagine others, didn’t realise they could/would sell the shares and give us the cash if a different market. That wouldbe a little reassuring at least.
Yeah, I really don’t know whether the PSTH I have in my ISA is worthless, will become worth less or if it’s worth holding on to until whatever happens down the line… because we don’t know what’s going to happen down the line.
I guess this is all part of making a risky purchase.
Im going to have belief in FT that they practice what they preach and they will be able to deliver on this. What better advert can they get if they can pull this off while other brokers flounder
Yeah I really hope we get access to the SPARC. Bill has really gone out of his way to make this a great opportunity for retail investors. If Freetrade don’t support this then they’d be letting a lot of people down.
The warrants in theory would be sold off and they’d give us the cash was the last I heard (that was a while ago though and pre announcement of the deal).
But I’m definitely worried about getting the UGM shares as I don’t think they’re meant to list on NYSE anytime soon.
I’d have hoped sorting out the SPARs wouldn’t be that hard, but no idea!
My money is on this being Bill in the PSH offices or some lucky intern, it is very spicy so if in an office use headphones or find a quite place to hide
It was the silence that was deafening and never a good sign 
Hopefully you have some news soon for us. Are there any of the benefits you can confirm we would get like the UMG shares?
