The Lemon Fool

Foresight just released an RNS of a type I don't recollect seeing before: "Forfeiture of Shares".

https://www.investegate.co.uk/article.a ... 72944H2585

Further to the announcement published on 21 October 2021, the Board confirms that 123,602 shares issued pursuant to the offer have been forfeited and cancelled pursuant to the articles.

Any idea what that's about? How would shares issued under the offer become forfeit?

UncleEbenezer wrote:Foresight just released an RNS of a type I don't recollect seeing before: "Forfeiture of Shares".

https://www.investegate.co.uk/article.a ... 72944H2585

Further to the announcement published on 21 October 2021, the Board confirms that 123,602 shares issued pursuant to the offer have been forfeited and cancelled pursuant to the articles.

Any idea what that's about? How would shares issued under the offer become forfeit?

I don't have any Foresight shares, but I must admit I am also curious as to what and why results in "Forfeiture of Shares"

I wonder if it could be a death or financial/legal trouble of a would-be subscriber?

If there was somehow - a death or a court order - a subscriber's bank could claw back payment after it had apparently been cleared and the shares allocated? Or if the money was found to be sufficiently dodgy that it couldn't be accepted?

But I was hoping someone here might know better: perhaps forfeiture is a process well-known to someone? Perhaps a Fool who had been involved with a company taking the action as Foresight have just announced?