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  • sabretoothtigger
    sabretoothtigger Posts: 10,036 Forumite
    Part of the Furniture 10,000 Posts Photogenic Combo Breaker
    Yes they do deals every day for the whole of the world cup. Tomorrow happens to be 2 pounds. I have a couple small left over shares I can sell so its useful for me
  • mjak82
    mjak82 Posts: 1 Newbie
    Hi I'm also really confused by the whole selling shares thing!!
    I anyone can help I'd be grateful...
    Basically as part of my husbands package at work he recieved shares as part of his bonus yearly.
    He's recently been made redundant and has received his share certificate. How do we go about selling them? Could really do with releasing this cash as it works out to be quite a substantial sum of money.
    thanks
  • sabretoothtigger
    sabretoothtigger Posts: 10,036 Forumite
    Part of the Furniture 10,000 Posts Photogenic Combo Breaker
    edited 20 June 2010 at 11:38PM
    I was reading halifax site yesterday. They let you sell a cert for £30 and you forward it on within 5 days

    Or you can send the cert in first & add to a nominee account and then you sell online which would cost 11.75 I believe or 15 on the phone


    Other banks will charge slightly different in that region I think
    Monday June 21
    
    INTERIMS
    Domino Printing
    
    QUARTERLY PAYMENT DATE
    Frontline
    
    GMS
    Invocas
    
    FINALS
    Eckoh, Kewill
    
    ANNUAL REPORT
    Dee Valley Group, Sepura
    
    EGMS
    Norsk Hydro
    
    AGMS
    AGI Therapeutics, Albion Technology & General VCT, Albion Technology & General VCT 'C' Shares, Albion Venture Capital Trust, All Nippon Air., Castle Asia, Coca-Cola Hellenic Bottling Company SA, Crawshaw Group, Elderstreet VCT, Fujitsu, INVU, JZ Capital Partners, NextGen Group, Octopus Apollo VCT 1, Octopus Apollo VCT 2, Plantic Technologies, Tandem Group, Titanium Asset Management Corp, Water Hall Group
    
    FINAL DIVIDEND PAYMENT DATE
    Martin Currie Portfolio Trust, NTT DoCoMo Inc, Provident Financial, Stobart Group Ltd.
    
    
    UK ECONOMIC ANNOUNCEMENTS
    Rightmove House Prices (00:01)
    
    INTERNATIONAL ECONOMIC ANNOUNCEMENTS
    All Industry Activity Index (JPN)
    Nationwide Department Store Sales (JPN)
    Convenience Store Sales (JPN)
    
    Tuesday June 22
    
    INTERNATIONAL ECONOMIC ANNOUNCEMENTS
    Richmond Fed Manufacturing Index (US) (15.00)
    ABC Consumer Confidence (US) (22:00)
    Balance of Payments (EU) (09:00)
    Balance of Trade (EU) (10:00)
    Consumer Confidence Indicator (EU) (10:00)
    Current Account (EU) (09:00)
    Existing Home Sales (US) (15:00)
    House Price Index (US) (15:00)
    IFO Business Climate (GER) (09:00)
    IFO Current Assessment (GER) (09:00)
    IFO Expectations (GER) (09:00)
    Import Price Index (GER)
    
    GMS
    Sunrise Resources
    
    FINALS
    Daisy Group, Halma, Norcros
    
    IMSS
    Whitbread
    
    SPECIAL DIVIDEND PAYMENT DATE
    BlackRock Smaller Companies Trust
    
    AGMS
    Alpha Bank GDR (Reg S) USD, BATM Advanced, Borders & Southern Petroleum, Caza Oil & Gas, China Shoto, Clean Air Power, Game Group, Inch Kenneth Kajang Rubber, Norcon, Northern Electricity Prf, PME African Infrastructure Opportunities, Richoux Group, RTC Group, Vertu Motors, Whitbread
    
    UK ECONOMIC ANNOUNCEMENTS
    Chancellor Budget Statement (15:30)
    
    FINAL DIVIDEND PAYMENT DATE
    BlackRock Smaller Companies Trust
    
    Wednesday June 23
    
    INTERIM DIVIDEND PAYMENT DATE
    Matchtech
    
    INTERIM EX-DIVIDEND DATE
    Edinburgh Worldwide Inv Trust, Marshall Monteagle Hldgs
    
    QUARTERLY EX-DIVIDEND DATE
    Henderson Financial Opportunities Limited, Land Securities Group, Queen's Walk Investment Ltd., Stobart Group Ltd. Income Shares
    
    INTERNATIONAL ECONOMIC ANNOUNCEMENTS
    Crude Oil Inventories (US) (15:30)
    FOMC Interest Rate (US) (17:15)
    GFK Consumer Confidence (GER) (07:00)
    Production Outlook Indicator (FRA) (07:45)
    Business Confidence Indicator (FRA) (07:45)
    PMI Service Sector Survey (FRA) (08:00)
    PMI Manufacturing Survey (FRA) (08:00)
    PMI Service Sector Survey (GER) (08:30)
    PMI Manufacturing Survey (GER) (08:30)
    PMI Service Sector Survey (EU) (09:00)
    PMI Manufacturing Survey (EU) (09:00)
    PMI Composite Index (EU) (09:00)
    MBA Mortgage Applications (US) (12:00)
    New Homes Sales (US) (15:00)
    
    FINALS
    BlueStar SecuTech, Falkland Islands Holdings, Imagination Technologies, Kesa Electricals, Mavinwood, Stagecoach Group, The Capital Pub Company
    
    ANNUAL REPORT
    JPMorgan Fleming Japanese Smaller Companies Inv Trust
    
    SPECIAL EX-DIVIDEND PAYMENT DATE
    Rotork
    
    AGMS
    Arian Silver Corporation (DI), Autologic Holdings, Empyrean Energy, GoIndustry-DoveBid, Hambledon Mining, Herencia Resources, JSC Chelyabinsk Zinc Plant GDR (Reg S), MWB Business Exchange, Nautilus Minerals Inc. (DI), Northern Investors Co., PetroNeft Resources, Phoenix Group Holdings, Press Corp. GDR (Reg S), Randall & Quilter Investment
    
    UK ECONOMIC ANNOUNCEMENTS
    BoE Interest Rate Minutes (09:30)
    CBI Distributive Trends Surveys (11:00)
    
    FINAL DIVIDEND PAYMENT DATE
    Argo Group, Elderstreet VCT, Premier Farnell
    
    FINAL EX-DIVIDEND DATE
    Aurora Inv Trust, Aveva Group, Caffyns, Coca-Cola Hellenic Bottling Company SA, Dairy Crest Group, Downing Planned Exit VCT 3 'C' Shares, Downing Protected VCT VI, Downing Protected VCT VII, Electrocomponents, Ensor Holdings, Experian Group, F&C Global Smaller Companies, Finsbury Worldwide Pharmaceutical Trust, Game Group, Harvey Nash Group, Hasgrove, Helical Bar, Invensys, Maven Income and Growth VCT , Mitie Group, Nature Group, Prime People, Record, SVM UK Active Fund, Tate & Lyle, Telford Homes, Templeton Emerging Markets Inv Trust, UK Mail Group , Victoria, Vislink, Wynnstay Properties
    
    Thursday June 24
    
    INTERIMS
    THB Group
    
    INTERNATIONAL ECONOMIC ANNOUNCEMENTS
    Continuing Claims (US) (13:30)
    Durable Goods Orders (US) (13:30)
    Industrial New Orders (EU) (10:00)
    Consumer Spending (FRA) (07:45)
    Job Seekers Net Change (FRA) (18:00)
    Initial Jobless Claims (US) (13:30)
    
    GMS
    Limelight VCT, Mariana Resources, Mitsub.Corp, Petards, Telekomunikacja Polska S.A. GDR (Reg S)
    
    FINALS
    ACM Shipping, Dart Group, DS Smith, DSG International, Micro Focus International Plc, Polar Capital Holdings
    
    ANNUAL REPORT
    Mckay Secs.
    
    EGMS
    Dexion Commodities Ld GBP Shares, Hansen Transmissions International
    
    AGMS
    Beacon Hill Resources, Corac Group, Equest Balkan Properties, Hansen Transmissions International, Harvey Nash Group, Honda Motor, JSC OGK-2 GDR (Reg S), Lukoil 'B' GDR (Reg S), Nippon Telegraph & Telephone Corp., Nmbz Hldgs Uk, Sistema GDR (Reg S), Stratic Energy Corporation, Tiger Resource Finance, Toyota Motor
    
    TRADING ANNOUNCEMENTS
    Petrofac Ltd.
    
    FINAL DIVIDEND PAYMENT DATE
    British American Inv Trust, International Power
    
    Friday June 25
    
    INTERIM DIVIDEND PAYMENT DATE
    Zytronic
    
    INTERNATIONAL ECONOMIC ANNOUNCEMENTS
    GDP (Final) (US) (13:30)
    Personal Consumption (US) (13:30)
    U. of Michigan Confidence (US) (15:00)
    GDP (FRA) (07:45)
    Consumer Prices Index (JPN)
    
    GMS
    Polski Koncern Naftowy Orlen GDR (Reg S), Share Plc
    
    FINALS
    Berkeley Group Holdings
    
    ANNUAL REPORT
    Alpha Tiger Property Trust
    
    SPECIAL DIVIDEND PAYMENT DATE
    Ashmore Global Opportunities EUR Shares, Ashmore Global Opportunities GBP Shares, Ashmore Global Opportunities USD Shares
    
    EGMS
    China Medical System Holdings
    
    AGMS
    Albion Development VCT, Albion Development VCT 'D' Shares, Biofutures International, Canaccord Financial Inc., Clinical Computing, EMIS, Fubon Financial Holdings GDR (Reg S), Japan Leisure Hotels, Martin Currie Pacific Trust, Oao Gaz ADS, OAO Tatneft GDR (Reg S), OJSC Pharmstandard GDR (Reg S), Serica Energy, Share Plc, UK Coal, Viridas, X5 Retail Group GDR (Reg S)
    
    TRADING ANNOUNCEMENTS
    Invista Real Estate Investment Management Holdings
    
    FINAL DIVIDEND PAYMENT DATE
    Dignity, Gresham House, Healthcare Locums, K3 Business Technology Group, Lees Foods, M. P. Evans Group, Maven Income and Growth VCT 2 , Nippon Telegraph & Telephone Corp., Old Mutual, Panther Securities, Spectris, Witan Pacific Inv Trust, Xaar
    
  • Geebee
    Geebee Posts: 3,081 Forumite
    Bennettay reported to [EMAIL="abuse@moneysavingexpert.com"]abuse@moneysavingexpert.com[/EMAIL]
    If you can, help others; if you cannot do that, at least do not harm them~Dalai Lama
    How people treat you is their karma; how you react is yours~Wayne Dyer
    Let none find fault in others. Let none see omissions and commissions in others. But let one see one's own acts, done and undone~ch4 vs50
  • sabretoothtigger
    sabretoothtigger Posts: 10,036 Forumite
    Part of the Furniture 10,000 Posts Photogenic Combo Breaker
    Monday June 28
    
    QUARTERLY EX-DIVIDEND DATE
    Yamana Gold Inc
    
    UK ECONOMIC ANNOUNCEMENTS
    Hometrack Housing Survey (00:01)
    
    
    INTERNATIONAL ECONOMIC ANNOUNCEMENTS
    Balance of Payments (GER) (07:00)
    M3 Money Supply (EU) (09:00)
    Personal Consumption Expenditures (US) (13:30)
    Personal Income (US) (13:30)
    Personal Spending (US) (13:30)
    Chicago Fed National Activity Index (US) (13.30)
    Dallas Fed Manufacturing Activity Index (US) (15.30)
    Retail Sales (GER)
    Consumer Prices (GER)
    Retail Sales (JPN)
    
    
    GMS
    Entertainment One (DI)
    
    FINALS
    Clarity Commerce Solutions, Cohort, Creston, Max Property Group (Reg S), MobilityOne, Zoo Digital
    
    ANNUAL REPORT
    Akers Biosciences, Inc (Reg S), Victoria
    
    SPECIAL DIVIDEND PAYMENT DATE
    GVC Holdings
    
    SPECIAL EX-DIVIDEND PAYMENT DATE
    Liberty
    
    EGMS
    Daniel Stewart Securities, Efes Breweries International GDR (Reg S)
    
    AGMS
    Albion Protected VCT, Anglo Asian Mining, Ascent Resources, Billington Holdings, Capital & Regional, Central Rand Gold, Chagala Group GDR (Reg S), Cluff Gold, Cove Energy, Forum Energy, JSC Sitronics GDR (Reg S), Kalahari Minerals, Matra Petroleum, Mediterranean Oil & Gas, Pantheon Leisure, Raymarine, Real Estate Investors, ReGen Therapeutics, Rugby Estates, Scottish Mortgage Inv Trust, Trafficmaster, Universe Group
    
    TRADING ANNOUNCEMENTS
    African Minerals Limited, Senior, Standard Chartered, Taylor Wimpey
    
    Tuesday June 29
    
    INTERIMS
    Porvair, Pursuit Dynamics, Terrace Hill, Travelzest
    
    INTERNATIONAL ECONOMIC ANNOUNCEMENTS
    ABC Consumer Confidence (US) (22:00)
    Business Climate Indicator (EU) (10:00)
    Industrial Confidence (EU) (10:00)
    Consumer Confidence (US) (15:00)
    Consumer Confidence Indicator (EU) (10:00)
    Consumer Confidence Indicator (FRA) (07:45)
    Economic Sentiment Indicator (EU) (10:00)
    PMI Retail (EU) (09:00)
    PMI Retail (GER) (08:55)
    Household Spending (JPN)
    Jobless Rate (JPN)
    Industrial Production (JPN)
    
    FINALS
    Assura Group, Carpetright, e-Therapeutics, Latham (James), Plastics Capital, Private and Commercial, ReNeuron, Scott Wilson
    
    ANNUAL REPORT
    Prologic
    
    AGMS
    Andes Energia, Archipelago Resources, BlackRock Absolute Return Strategies EUR Shares, BlackRock Absolute Return Strategies GBP Shares, BlackRock Absolute Return Strategies USD Shares, Caffyns, Caspian Holdings, Cattles, Cellcast, Chimei Innolux Corp GDR (Reg S), Comstar UTS GDR (Reg S), Crimson Tide, Horizonte Minerals, Investors Capital Trust 'A' Shares, iPoint-Media, JSC Polymetal GDR (Reg S), LiDCO, Longships, Pinewood-Shepperton, Platmin, Praesepe, Public Power GDR (Reg S), RAM Investment Group, Sistema-Hals GDR (Reg S), Somero Enterprises (Reg S), Takefuji Corp, Tdk, Tower Resources, Trans-Siberian Gold, Ultima Networks
    
    TRADING ANNOUNCEMENTS
    Arriva, National Express Group, Serco
    
    UK ECONOMIC ANNOUNCEMENTS
    BBA Mortgage Lending Figures (09:30)
    Consumer Credit (09:30)
    M4 Money Supply (09:30)
    M4 Sterling Lending (09:30)
    Mortgage Approvals (09:30)
    PMI Retail (09:30)
    
    Wednesday June 30
    
    INTERIMS
    ATH Resources, Galleon Holdings, Lookers
    
    INTERIM DIVIDEND PAYMENT DATE
    A&J Mucklow, Jersey Electricity 'A', Local Shopping REIT, Majedie Investments, Marston's
    
    INTERIM EX-DIVIDEND DATE
    Compass Group, Electronic Data Processing, Paragon Group Of Companies
    
    QUARTERLY PAYMENT DATE
    MedicX Fund Ltd., Premier Energy & Water Trust
    
    QUARTERLY EX-DIVIDEND DATE
    Mercantile Inv Trust
    
    INTERNATIONAL ECONOMIC ANNOUNCEMENTS
    Chicago PMI (US) (14:45)
    Crude Oil Inventories (US) (15:30)
    International Reserves (EU) (11:00)
    MBA Mortgage Applications (US) (12:00)
    Unemployment Rate (GER) (08:55)
    Consumer Prices Index (EC)
    Housing Starts (JPN)
    Construction Orders (JPN)
    
    GMS
    Central African Gold, eServGlobal, Merchant Securities, The Capital Pub Company, Transense Technologies
    
    FINALS
    Gem BioFuels, HMV Group, Northgate, Worldspreads Group
    
    ANNUAL REPORT
    Gem BioFuels, North American Banks Fund Ltd.
    
    SPECIAL DIVIDEND PAYMENT DATE
    Liberty
    
    EGMS
    French Connection, Telefonica SA
    
    AGMS
    AEC Education, Air China, Alpha Pyrenees Trust Ltd., Archial Group, Astaire Group, Atlantic Coal, Cadogan Petroleum, Caledon Resources, Carador EUR Shares, Cavanagh Group, Chaarat Gold Holdings, China Western Investments, CSS Stellar, Densitron Technologies, Energiser Investments, Equatorial Palm Oil, Eruma, Eurasia Mining, Hargreave Hale AIM VCT 2, Hawtin, Home Retail Group, IFG Group, Kazakhstan Kagazy GDR (Reg S), Kiotech International, Kryso Resources, Landore Resources, Manx Financial Group, Maypole Group, Mobile Tornado, Netplay TV, Northern Petroleum, Nostra Terra Oil and Gas Company, Noventa Ltd., OJSC LSR Group GDR (Reg S), Oxus Gold, PetroLatina Energy, Proteome Sciences, Puricore, Rurelec, Shed Media, Silanis International, Strategic Thought Group, Taihua, Telit Communications, Titan Europe, Transense Technologies, ValiRx, Vimetco GDR (Reg S), Vyke Communications, Yinggao Holdings, Yujin International
    
    UK ECONOMIC ANNOUNCEMENTS
    Balance of Payments (09:30)
    Current Account (09:30)
    GDP (quarterly national accounts) (09:30)
    GFK Consumer Confidence (00:01)
    Index of Services (09:30)
    Nationwide House Prices (07:00)
    
    FINAL DIVIDEND PAYMENT DATE
    China Shoto, Pacific Assets Trust, Puma VCT V, Vindon Healthcare
    
    FINAL EX-DIVIDEND DATE
    Aberdeen All Asia Inv Trust, Ashley (Laura) Holding, Bisichi Mining, Braemar Shipping Services, Brown (N.) Group, BSS Group, Cranswick, Dee Valley Group, Fuller Smith and Turner, Halfords Group, Hogg Robinson, Homeserve, Kiotech International, Man Group, Montanaro UK Smaller Companies Investment Trust, Puma VCT III, Puma VCT IV, Velosi, Ventus 1 VCT
    
    Q1
    Tanjong
    
    Thursday July 01
    
    INTERIM DIVIDEND PAYMENT DATE
    Bellway
    
    INTERNATIONAL ECONOMIC ANNOUNCEMENTS
    Auto Sales (US) (15:00)
    Construction Spending (US) (15:00)
    Continuing Claims (US) (13:30)
    Initial Jobless Claims (US) (13:30)
    ISM Manufacturing (US) (15:00)
    ISM Prices Paid (US) (15:00)
    Pending Homes Sales (US) (15:00)
    PMI Manufacturing (EU) (09:00)
    PMI Manufacturing (GER) (08:55)
    PMI Manufacturing (FRA) (08:50)
    Tankan Large Manufacturers Index (JPN)
    Tankan Large Manufacturers Outlook (JPN)
    
    GMS
    China Gateway International, Throgmorton Trust
    
    FINALS
    Cyril Sweett, Debenhams, GEONG International, Greene King
    
    ANNUAL REPORT
    Polar Capital Holdings
    
    EGMS
    Octopus AIM VCT
    
    AGMS
    Aberdeen New Thai Inv Trust, Blue Planet European Financials Inv Trust, Boussard & Gavaudan Holding Ltd. EUR Shares, Boussard & Gavaudan Holding Ltd. GBP Shares, Clyde Process Solutions, Lipoxen, Northern 3 VCT, UK Select Trust Ltd.
    
    TRADING ANNOUNCEMENTS
    John Wood Group
    
    UK ECONOMIC ANNOUNCEMENTS
    PMI Manufacturing (09:30)
    
    FINAL DIVIDEND PAYMENT DATE
    Aegis Group, Amec, Bioquell, Bloomsbury Publishing, Bunzl, Coca-Cola Hellenic Bottling Company SA, Headlam Group, Next, Rolls-Royce Group, Scottish Mortgage Inv Trust, Tawa
    
    Friday July 02
    
    INTERIM DIVIDEND PAYMENT DATE
    Associated British Foods, Britvic, Cardiff Property, Connaught, Education Development International, Electronic Data Processing, Grainger, Hargreave Hale AIM VCT 1, RM Group, Shaftesbury
    
    QUARTERLY PAYMENT DATE
    Schlumberger
    
    QUARTERLY EX-DIVIDEND DATE
    JP Morgan Chase
    
    INTERNATIONAL ECONOMIC ANNOUNCEMENTS
    Business Inventories (US) (15:00)
    Factory Orders (US) (15:00)
    Non-Farm Payrolls (US) (13:30)
    PMI Construction (EU) (09:00)
    PMI Construction (GER) (08:55)
    Producer Price Index (EU) (10:00)
    Unemployment Rate (EU) (10:00)
    Unemployment Rate (US) (13:30)
    
    GMS
    International Brand Licensing
    
    ANNUAL REPORT
    Falkland Islands Holdings
    
    EGMS
    Climate Exchange
    
    AGMS
    Tesco
    
    UK ECONOMIC ANNOUNCEMENTS
    PMI Construction (09:30)
    
    TRADING STATEMENT
    Balfour Beatty
    
    FINAL DIVIDEND PAYMENT DATE
    Anglo Pacific, Brammer, Camellia, Compagnie de St-Gobain, Hargreave Hale AIM VCT 2, Hilton Food, Huntsworth, Hygea VCT, Judges Scientific, London and Associated Properties, Marshalls, Mears Group, Northern Investors Co., Pace, Slingsby H.C, Utilico Emerging Markets Ltd.
    
    UK ECONOMIC ANNOUNCEMENTS
    PMI Construction Survey (09:30)
    
  • tsmiggy
    tsmiggy Posts: 127 Forumite
    Sorry if i am hijacking a thread,but i am not sure where to post this.

    I owned Friends Provident shares,which became Resolution.I now read that they are buying AXA,could anyone please tell me what all tihs means for me,if anything.

    cheers
  • sabretoothtigger
    sabretoothtigger Posts: 10,036 Forumite
    Part of the Furniture 10,000 Posts Photogenic Combo Breaker
    tsmiggy wrote: »
    Sorry if i am hijacking a thread,but i am not sure where to post this.

    I owned Friends Provident shares,which became Resolution.I now read that they are buying AXA,could anyone please tell me what all tihs means for me,if anything.

    cheers

    Questor gave some advice on that, Resolution offered small holders cash for good reason it seems
  • kamzy
    kamzy Posts: 88 Forumite
    I usually use HSBC InvestDirect for my share dealing, a friend the other day said he uses x-o. Just wondering what the general view on them is, looking at their price i'd be saving £7 a trade which is quite substantial.

    Is there something i'm missing?

    Kam
  • MacsReturns
    MacsReturns Posts: 335 Forumite
    tsmiggy wrote: »
    Sorry if i am hijacking a thread,but i am not sure where to post this.

    I owned Friends Provident shares,which became Resolution.I now read that they are buying AXA,could anyone please tell me what all tihs means for me,if anything.

    cheers

    Hi TSMiggy - I'm in exactly the same position, had some FP shares from the demutualisation and just held on to them, then they were turned into Resolution. And now this rights issue comes up (which they will probably continue with even if the AXA deal falls through, by the way). You (... we ... ;) ) should receive a communication soon to determine what to do with our rights.

    What will happen is that your existing shares will be consolidated 30:1 (ie 30 old shares become one new share) and for each new share you hold, they will give you rights to buy 17 more new shares at a discount, at £1.50 per share.

    There are a few choices you'll need to make - like do you want to and can you afford to take up your rights in full? In my case I have about 180 old shares, giving me rights to just over 100 new shares. If I exercise my rights then I will have to pay £150 for the new shares. Alternatively, you can sell on your rights, and I believe that would be around 92p each (so I would get £92 back, but my holding would stay at the consolidated position of 6 shares which is now worth a lot less as the stock has been 'diluted' by the new shares issued.)

    It's a bit vague yet but you can expect (roughly) a market value of the new shares to be around £2.40 - so if you can afford to buy them at £1.50 there is a gain to be made.

    If you just freeze in the headlights and do nothing at all, then I believe your rights will be sold on your behalf, and eventually a cheque will arrive!

    There is a final option on offer which goes by the technical name of 'swallowing the tail' in which you can sell some of your rights (I think in this case it works out around 60% of them) and use the proceeds to exercise your remaining rights (ie ~40% - you need to sell 150 to pay for 92). This way you get part of the allocation at no extra cost to yourself - this will be one option you can choose when you get the communication.

    If you want more detail, Resolution have posted up all the necessary regulatory notices on their website: www.resolution.gg - obviously the language is a bit turgid, but it explains it all in excrutiating detail :p

    FWIW, I've decided to exercise my rights in full... but that, of course, is not advice in any way shape or form. Just my decision for my situation. But hope it helps, anyway. :beer:
    A man is rich in proportion to the number of things he can afford to let alone - Thoreau
  • tsmiggy
    tsmiggy Posts: 127 Forumite
    Hi TSMiggy - I'm in exactly the same position, had some FP shares from the demutualisation and just held on to them, then they were turned into Resolution. And now this rights issue comes up (which they will probably continue with even if the AXA deal falls through, by the way). You (... we ... ;) ) should receive a communication soon to determine what to do with our rights.

    What will happen is that your existing shares will be consolidated 30:1 (ie 30 old shares become one new share) and for each new share you hold, they will give you rights to buy 17 more new shares at a discount, at £1.50 per share.

    There are a few choices you'll need to make - like do you want to and can you afford to take up your rights in full? In my case I have about 180 old shares, giving me rights to just over 100 new shares. If I exercise my rights then I will have to pay £150 for the new shares. Alternatively, you can sell on your rights, and I believe that would be around 92p each (so I would get £92 back, but my holding would stay at the consolidated position of 6 shares which is now worth a lot less as the stock has been 'diluted' by the new shares issued.)

    It's a bit vague yet but you can expect (roughly) a market value of the new shares to be around £2.40 - so if you can afford to buy them at £1.50 there is a gain to be made.

    If you just freeze in the headlights and do nothing at all, then I believe your rights will be sold on your behalf, and eventually a cheque will arrive!

    There is a final option on offer which goes by the technical name of 'swallowing the tail' in which you can sell some of your rights (I think in this case it works out around 60% of them) and use the proceeds to exercise your remaining rights (ie ~40% - you need to sell 150 to pay for 92). This way you get part of the allocation at no extra cost to yourself - this will be one option you can choose when you get the communication.

    If you want more detail, Resolution have posted up all the necessary regulatory notices on their website: www.resolution.gg - obviously the language is a bit turgid, but it explains it all in excrutiating detail :p

    FWIW, I've decided to exercise my rights in full... but that, of course, is not advice in any way shape or form. Just my decision for my situation. But hope it helps, anyway. :beer:
    Not sure i quite understand all that,but i do appreciate your reply.I have around 900 shares in Resolution,and to be honest i am just getting fed up with all the messing around.Part of me is thinking,just do nothing and take any cheque i get .

    cheers
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