Northern Rock Shares - HELP!

bobmanuk

I'm a total novice at share dealing but have 500 NR shares that i got at demutualisation. So what are my options if this Virgin etc deal goes ahead? I don't need the money so I can stay in for the long term if that makes sense.

Do I have the choice of keeping NR shares and them maybe increasing in value in the long term in line with Virgin's fortunes? Or will I actively have to do some deal with Virgin now if I dont want to be left with worthless paper? Is there a Noddy's guide to share/takeover deals anywhere? I've no idea what is going on and what i need to do!!!

Any advice would be greatfully received.
Bob

CSL_2

My prediction is that soon after the Virgin Consortium is in place and the massive and very difficult 25p Rights Issue goes through, the following will happen:-

There will be a slight upturn on the extremely heavily diluted stock. After this the shares will be fairly dormant for about 18 months at about 14.5 to 22 pence. They will slowly creep up to about 37p after another year. Progress will follow the same patern as that of First National Finance as in 1978.

CSL

missile

I would suggest you cash in the shares as soon as you get an offer

debbie42

My telewest shares eventually got converted to Virgin Media shares when they took them over. They are still worth about 5% of what I paid for them. Yippee.

bristolleedsfan

debbie42 wrote: »

My telewest shares eventually got converted to Virgin Media shares when they took them over. They are still worth about 5% of what I paid for them. Yippee.

would reading that as it appears mean they are 95% down on what u paid for them.

according to this virgin media shares are worth nothing. :rotfl:

http://www.lse.co.uk/SharePrice.asp?shareprice=VMED&share=virgin_media

bobmanuk

Thanks all, "their offer" you say! So what happens? Do I eventually get a letter from Sir Richard offering to buy my shares or do I have to actively seek Virgin out to take advantage of their offer? And what happens to my NR shares if the Virgin deal goes ahead without me doing anything, can i keep them or will they cease to have value unless sold to Virgin?

bristolleedsfan

bobmanuk wrote: »

Thanks all, "their offer" you say! So what happens? Do I eventually get a letter from Sir Richard offering to buy my shares or do I have to actively seek Virgin out to take advantage of their offer? And what happens to my NR shares if the Virgin deal goes ahead without me doing anything, can i keep them or will they cease to have value unless sold to Virgin?

firstly virgin offer is not a done deal, secondly shareholders would have vote on any final offer proposals, thirdly i dont believe virgin have said what value they will be placing on existing share holdings, it would be presumed to be virtually nothing hence reason virgin are offering existing NR shareholders the "opportunity" to buy newly issued shares @25p each.

all final proposals will be mailed to shareholders registered address.