Elapsed marconi warrants

baffaroony

Hello , Has any member lost money with the delisting of the MARCONI WARRANTS that were issued 4 years ago?
Ive seen my original 37000 shares diluted down to nothing by corporate share consolidation!!?
The company changed it's name to Telent ( marconi never went bankrupt) and this year announced a dividend payment :mad:
Can they do this?
I would be interested to hear your comments
Regards Baffaroony

debbie42

I've got something in my portfolio called "4717" worth a whole 3 pence. I'd consigned it to history a long time ago, but, ever optimistic, thought I might use it to mitigate the enormous CGT bill I'll make on some other shares when they shoot off on an upwards price spiral.

Rhino666

Marconi/Telent - what a disaster !!

Hi poster - sorry to hear about your plight and yes there are many others in your position.

Marconi share certs or 'M' as they became known are worthless, as they have been delisted.

The Telent warrants have now expired and as the share price was less than £5 at the end of the warrant exercise period and the warrant exercise price was about £7.50, they were never a viable option.

The only thing of any value left would be Telent shares and I guess you have 4 worth about £20. The nominees will sell them for you and their commission will be £15 minimum - you end up with about £5.

Sorry to be so blunt. If you need confirmation of any of the above I would suggest a phone call to the Telent registrars who are very helpful.

I could have doubled my money on Marconi before losing it all so in my case noone else to blame but myself.

baffaroony

Many thanks Rhino666 , i keep telling myself hindsight is a wonderfull thing!!
if only eh!
Regards and best wishes Baffaroony