How to check on shares that have changed name

Wig

I bought for arguments sake about 2000 British Biotech shares...I still have my reciept from Barclays share dealing. But Barclays never gave me a certificate.

These were converted into Vernalis shares a few years ago - but they never told me how many.

And those Vernalis shares were once again consolidated into fewer number of vernalis shares about a year ago at the time I think they said I had 80 vernalis shares which made '4' new vernalis shares...... I think the '80' figure is incorrect and should be closer to '2000'

If one thinks the final figure of Vernalis shares allocated may be incorrect how do I double check and ask for a breakdown?

Optimist

Get in touch with the registrars they should have details. In this case its Capita
Link Here

[Deleted User]

Hi,

did a bit of searching.

In April 2003,

Following the close of trading today, British Biotech's share capital will be reorganised, so that every 20 Existing Ordinary Shares will be consolidated into one Reorganisation Share and one Deferred Share,

so, your 2000 will now be 100, (2000/20)

In April 2009,

11 New Ordinary Shares for every 5 Existing Ordinary Shares,

so, your 100 will now be 220, ((100/5)*11)

Links:

April 2003

April 2009 click on Placing and Open Offer April 2009 PDF, scroll to page 5, item 4.

As Optimist said, get in touch with registrars.

yorkiebar

The April 2009 offer is a subscription offer so if the OP did nothing at all then his original holding is unaffected.

"Qualifying Shareholders are being given the opportunity to subscribe for New Ordinary Shares pro rata to their existing shareholdings at a price of 3 pence per New Ordinary Share"

yorkiebar

I was also a B Biotech investor and have infront of me a share cert for 742 shares from 1996. I've also got a cert for 1 Vernalis share issued on 19th May 2009 (can't remember what that's all about!).

When I registered with Capita's (registrar for Vernalis and formerly B Biotech) online shareholding service it only shows up the 1 Vernalis share so I don't know what happened to my original 742 Biotech shares ! Can't remember selling them so it's all a bit of mystery....

[Deleted User]

Hi,

oops , I was presuming he had taken up the offer.

Don't you think with all the changes OP should have some paperwork, even if shares held in nominee account?

yorkiebar

The 2009 offer was the opportunity to subscribe to *additional* shares depending upon the number of shares held. For every 5 shares held you could subscribe for 11 additional ones. Your original calc assumed a replacement of existing holding for new at a rate of 11 replacement shares for every 5 held

yorkiebar

Ah, section 9 on page 7 of the 2009 doc sheds some light on a share reorganisation:-

"The current nominal value of the Existing Ordinary Shares being 5 pence per share, exceeds the proposed Offer Price of 3 pence per New Ordinary Share. As a matter of UK company law, it is not possible for the Company to issue shares at less than their nominal value and therefore in order to effect the Placing and Open Offer, it is proposed that the Company’s share capital be reorganised. Following the Share Capital Reorganisation, Shareholders will hold 1 Consolidated Ordinary Share for every 20 Existing Ordinary Shares currently held."

So April 2009 saw a 20 -> 1 holdings reorg !


That's where my 742 shares went then.

April 2003 20/1 reorg so 742 / 20 = 37 shares

Then April 2009 20/1 reorg so 37 / 20 = 1 share (rounded down)!

worth approx 78p

Cheers British Biotech :rotfl:


And to the OP, that's where your 4 Vernalis shares come from - your original approx 2000 holding divided by 400 (two 1/20 reorganisations)

[Deleted User]

Hi,

I don't have any of the shares, just doing a bit of searching this morning when having my caffeine fix, but, yes, I was wrong on that part, well it was 5am.

So, OP is right then with his 80 share now being 4.