Northern Rock Shares

vigman

What's the latest with Northern Rock shares? I lost track after they disappeared from my Selftrade account.

TIA

Vigman

adambro

Probably the most comprehensive account of the ongoing situation can be found at http://www.uksa.org.uk/NorthernRock.htm.

FoxtonsRIP

I think you can safely say that they're worthless.

beingjdc

adambro wrote: »

Probably the most comprehensive account of the ongoing situation can be found at http://www.uksa.org.uk/NorthernRock.htm.

Wow, that's some serious self-delusion going on there.

The share price of a company that needs to be wound up can be calculated fairly easily.

1) Take the price which can be obtained for the assets
2) Subtract the liabilities
3) Divide by the number of shares.

Number 2 for Northern Rock was bigger than Number 1, therefore the shares were worth a minus number, which equates to 0 since you can't pursue shareholders for unpaid debt, that falls on the bondholders.