Corus Group

memo_2

Hi there,

I was looking for some advice really since I'm an amateur when it comes to shares..... I am currently holding some shares in Corus Group and not doing badly with recent rise in share price. However, when I enquired about cashing in my shares and was told I would only receive 1/5 of the value I am holding. This doesn't seem right to me. Can someone explain what the correct procedure is for cashing in these shares and receiving the full amount I am entitled to? Your help would be most appreciated.

Memo

Joe_Bloggs

Corus group make steel. Who were you enquiring with about cashing in the shares ? How did you buy the shares in the first place ?
J_B.

memo_2

hi,

I am talking about shares I hold in Corus Group - the steel makers. I bought the shares through Lloyds TSB's sharedealing service and enquired about cashing them in with Lloyds TSB too.

Joe_Bloggs

It makes no sense then. Try again and get their name, telephone number, reasons for their advice, enquiry number or whatever it takes. It does sound like strange and unrepeatable situation. Worthy of the Fortean Times.
J_B. Never discount strange phenomena !

cheerfulcat

Hi, memo,

Corus has had a one-for-five share consolidation; that means that for every 5 old shares you owned, you now own 1 new one. You can read more here. It shouldn't mean that the value of the shares has gone down, though; each new share should be worth roughly five times one old share ( allowing for recent fluctuations ).

memo_2

Thanks guys you've been a great help. I didn't understand the consolidation bit before. So I should still be able to cash in though? I mean there should be no restrictions should there?

cheerfulcat

Hi, memo,

You should have no problem selling your shares.