INVENSYS share certificates.

Mr_Warren_2

Hi all. Due to the endowment situation (ie. not providing enough to cover the mortgage), i am looking in all the draws to check what can be sold for cash.

In early 2002 we invested £2000 in some Invensys shares (ISYS.L) part of the FT100. We received a certificate for 1484 Ordinary Shares at £0.25 each.
In July 2006 Invensys issued another share certificate of 593 Ordinary Shares at £0.01 each.
In August 2006, following a Rights Issue from Invensys and an additional payment of $88.95, we received a new share certificate for 207 Ordinary Shares at £0.10 each in replacement of the 593 shares above mentioned.

Question:

- Are we holding onto 1484 + 207 = 1691 ISYS.L shares?
- What is the meaning of having so many shares of £0.25 and £0.10?
- At £3.00/share today, is my investment 1691 x £3.00 ? or what??

Many thanks

Nosht

Looks like it.
As the share price is at a high just now, sell ASAP.
If you have no account with a stockbroker then most banks can sell them for you, but hold on to the Share Certificates as they are the proof of ownership & ONLY PART WITH THEM TO ANYONE IF THEY GIVE YOU A RECEIPT FOR THEM. :eek::eek:

Regards,

Nosht.

Biggles

There was a 1:10 split in 2006, so your 2077 shares at 1p became 207 shares at 10p, so now only worth around £600.

The current share price is clearly not at an all-time, or even recent, high (they were over 400p a couple of years ago).

You should make your own decision re selling, that kind of advice should neither be given nor taken in these forums.

Mr_Warren_2

Well i think i can add to this story.

As i said the 1484 shares were at £0.25 each and the additional 593 were at £0.01 each, the rights issue gave me 1 new share of £0.10 for each 10 old shares of £0.01.
I believe the people who did the conversion at the time of the Rights Issue wrongly used 1484 shares at £0.01 each as well as the 593 that were correct at £0.01 (1484+593 = 2077) for which i got 207 new £0.10 shares when it should have been 1484 @ 25p = 5936 shares at £0.01.....= 593.6 new shares at £0.10....

Am i in the right???? or what?

Does this make sense to anyone?

Mr_Warren_2

Biggles wrote: »

There was a 1:10 split in 2006, so your 2077 shares at 1p became 207 shares at 10p, so now only worth around £600.

The current share price is clearly not at an all-time, or even recent, high (they were over 400p a couple of years ago).

You should make your own decision re selling, that kind of advice should neither be given nor taken in these forums.

Oh i am not asking about selling or what, i am just asking if the conversion was correctly done and from what i calculate, it does not appear so and am asking for your thoughts on that specifica conversion. Thanks for the next comments.

Biggles

It was a 2 for 5 rights issue at 15p, which would bring you 593 extra shares for £88.95. The new shares ranked equally with the existing shares, giving you 2077, so it would seem that the calculation was done correctly.

Mr_Warren_2

Can you explain how you work this out? Am a bit hard of hearing here.... as I don't get how can 1484 shares of £0.25 each + 593 shares of £0.01 each give me a conversion of 207 shares of £0.10 each....

Mr_Warren_2

I would really appreciate someone's help with my allocation calculation. Thank you

Biggles

The £0.25, £0.10 and £0.01 are only the nominal values of the shares. All I can tell without a great amount of delving is that, "The New Shares will, when issued and fully paid, rank equally in all respects, including dividend rights, with, and have the same rights as, the Existing Shares." (http://www.advfn.com/news_Rights-Issue_15558106.html), and this leads me to believe that your Existing and New Shares rank equally for the purposes of the share split.

Maybe someone can shed further light, or you may need to speak to the Registrars.

Mr_Warren_2

Thank you Biggles, i will get the dictionnary out and get that translated in plain english !

barak

Mr_Warren wrote: »

Question:
- Are we holding onto 1484 + 207 = 1691 ISYS.L shares?

Mr Warren - If you -

(1) go to www.shareview.com
then "Shareholder centre"
then "View public share details"

(2) find Invensys plc on the dropdown menu

(3) Enter your Surname, Shareholder reference (from a share certificate or dividend notice) and your Postcode

you should find details of the number of shares you currently hold