Share Dealing Discussion Area

gt94sss2

empfun wrote: »

WH Smith are conducting a share buyback and consolidation. But I don't understand how it works.

I used to have 1620 shares but today with the share consolidation carried out I now only have 1466. Didn't I just lose money?

Terms: MANDATORY CONSOLIDATION You will shortly be credited with 67 New shares of WH Smith
Plc Ordinary Shares of 27 6/67 Pence each, for every 74 old shares of WH Smith Plc Ordinary Shares
of 20 pence each held on the record date of 21 February 2008.

I also can't figure out the maths of how 1620 became 1466.

You should have 67 new shares for every 74 shares you used to own. However, at the same time, WHSmith now has fewer shares in existence so your 'share' of the company is the same.

As such 1620/74*67 = 1466.75

As 1620 doesn't divide exactly by 74, you will get a cheque for the 0.75 'missing fraction' - at the same time, it seems as if WH Smith is paying a special dividend of 33p/share payable on this Friday

Regards
Sunil

agent_orange_2

Hi, does anyone know how long selftrade take to pay funds accross to your bank account upon request?

luckyseven_3

Hi Can anyone tell me from where can I get the details of companies with primary share issues??. I haven't come across any???

Biggles

agent_orange wrote: »

Hi, does anyone know how long selftrade take to pay funds accross to your bank account upon request?

The usual BACS cycle, about three working days.

agent_orange_2

I wonder if anyone could help please , I am trying to find out if A selftrade trading account allows you the option of reinvesting divy payments? Secondly, as a lower rate tax payer, will there be tax to pay on a dividend payment?

Thanks for any help.

gt94sss2

agent_orange wrote: »

I wonder if anyone could help please , I am trying to find out if A selftrade trading account allows you the option of reinvesting divy payments?

Not at the moment - you would have to buy new shares as 'normal' with the money though I think a 'dividend reinvestment' option is coming soon.

Secondly, as a lower rate tax payer, will there be tax to pay on a dividend payment?

No - the dividend you receive will already have had tax deducted from it. For a lower rate tax paper there is no more income tax to pay.

Regards
Sunil

wolds_lady

Following a takeover with one of my holdings, I was informed that a cheque would be sent out to me circ Feb 22 2008, from the above registrar.

Almost one month on and I havent recieved anything!:mad:

I contacted Capitta whom informed me that a cheque was sent on or around the above date. I told them that i certainly had not recieved it but they insist it was sent! They told me problem may be with Royal Mail but if i want another cheque then i have to write to them and pay £15.00 !!:mad:

I contacted Royal Mail and they checked for damaged mail at the sorting office before telling me that they couldnt help me further *-( though in their defence, my mail has been troublefree for years!

I conatcted Capita again and told them that RM have not unearthed anything and questioned if the cheque had been presented for payment. They confirmed that "unsurprisingly" the cheque was still outstanding for payment! doah! :T

Now, they send out all cheques non-tracked, standard post! I have requested a different form of payment, perhaps electronic, but again they say they can only send them out standard post *-( I dont want to pay £15.00 as I believe its not my fault... though, if i concede, then what if it repeats itself, and the new cheque doesnt show...

I have written a letter to the customer services manager but i am not holding my breathe...

What is the law here? Do i have to pay it?

Thanks all

jglover

As mentioend above the article on Cheapest Share Dealing is now out of date as Hoodless Brennan have changed their T&Cs. It looks like it could now be £8 a trade and there is also a £20 a year change if you don't deal.

I would really like to know what the cheapest option is for an execution only service over the web for 1 or 2 trades a year. Any idea? Can we get Martin to Update the article?

roger_c

I have a dealing account with Selftrade which I'm quite happy with, but I have NEVER used a stocks and shares mini ISA or Maxi ISA and need a bit of help. Can I transfer my shares into an ISA?

The value is relatively low ~£5500 or thereabouts. What would the cost be and which provider should I use? I've heard of Shares Plc, TD Waterhouse, Barclays and off course Self-trade. Would I be able to transfer these before 5 April or should I just wait? I have about another £3,400 that I'd like to invest too hopefully in a mini ISA? Is there a website someone could point me to for help?

King_Weasel

You can't transfer shares in, so you would have to sell them and buy them again. And with a value around £5500 it would have to be a maxi-ISA, so you couldn't do it this year if you already have a cash ISA.

I find that brokers seem to charge annual fees for ISAs where they don't for ordinary accounts. So I wonder whether it's worth it, though when I raised this issue here others disagreed with me.