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    • jblakes
    • By jblakes 9th Jan 18, 12:10 AM
    • 72Posts
    • 7Thanks
    Halifax shares help
    • #1
    • 9th Jan 18, 12:10 AM
    Halifax shares help 9th Jan 18 at 12:10 AM
    Evening Gents

    I forgot i had a silly £500 bet if you like back in 2011, i brought 28,968 shares at 1.68p, i forgot about these till now.

    I checked tonight and i have now only got 1448 shares, something called corporate action happened in july 2017, thats when these changes happen.

    So the price today is 3.68p, so which the original share i brought, it should be worth just over 1k, but its actually worth (1448 x 3.68) =53 ish pound.

    Can somebody tell me how, why, and if they can do that?

    kind regards
Page 2
    • Tom99
    • By Tom99 10th Jan 18, 6:12 AM
    • 1,555 Posts
    • 1,010 Thanks
    Try to ignore the 1 for 20 share swap as it has no effect on the total value of your shares.

    Its like having 20x £1 notes and swapping them for 1x £20 note. You still have £20.

    Many companies do this, usually because the price of each share has got too low or too high.

    You bought your 1,448 shares at the equivalent price of 33.6p per share, probably just after a possible oil find since the price had tripled from 9.19p the month before. That oil find turned out not to be a big one because the share price fell 65% back down to 11.5p at the end of 2011. You basically bought at exactly the wrong time.

    Your investment is currently worth £50 so you might as well hang on and hope the next well is full.
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