Royal Bank Of Scotland Group Plc Sub Shares -claim Purpose ()???

phatbear

Ladies and Gents.

Im a total newbie to the world of shares however due to my savings account gaining 0.5% interest on my cash I thought I would have a punt with an amount I could afford to lose, even though I would be gutted if i did.

Anyway a couple of months ago I bought £1000 of RBS and a month later £1000 of lloyds and to date, if i sold today, I would have netted £1000'ish profit, of course if I had sold yesterday I would have cleared £1300 ah well.

However I noticed today on my portfolio this

"ROYAL BANK OF SCOTLAND GROUP PLC SUB SHARES -CLAIM PURPOSE ()" with a couple of thousand shares in it with a value of 0.00p so can someone clarify what the heck this is.

I had a quick google and found nowt but thought someone on here with far more knowledge than me, which is'nt hard at the mo, could clear this up.

Cheers for now

Mr B

shrewsaver

phatbear wrote: »

Ladies and Gents.

Im a total newbie to the world of shares however due to my savings account gaining 0.5% interest on my cash I thought I would have a punt with an amount I could afford to lose, even though I would be gutted if i did.

Anyway a couple of months ago I bought £1000 of RBS and a month later £1000 of lloyds and to date, if i sold today, I would have netted £1000'ish profit, of course if I had sold yesterday I would have cleared £1300 ah well.

However I noticed today on my portfolio this

"ROYAL BANK OF SCOTLAND GROUP PLC SUB SHARES -CLAIM PURPOSE ()" with a couple of thousand shares in it with a value of 0.00p so can someone clarify what the heck this is.

I had a quick google and found nowt but thought someone on here with far more knowledge than me, which is'nt hard at the mo, could clear this up.

Cheers for now

Mr B

It's to do with the rights issue or whatever you want to call it that RBS are doing at the moment to raise funds. However, this is at a disadvantage as the offer price is higher than that of the current market price so in most cases is not worth the punt.

Hope this helps. Plus find out more here,....
when you click here

phatbear

Damn thought I was getting something for nothing HO HO!!!

Cheers for the info

all the best

Mr B