Marks & Spencer PLC

jrm

Hi All.   I have been advised by my execution broker that M&S Plc ordinary shares of GBP0.25 are being subdivided into 1 new ordinary share of GBP0.01 and 1 new deferred share of GBP0.24, effectively making the deferred shares worthless.   As I have 1200 ordinary shares can anyone explain what exactly is going happen, and will I be poorer because of it ?     Thanks.

george4064

I can’t see any official announcement of a sub division.

When is this apparent sub division taking effect according to your execution broker?

Until we can see the official announcement it’s difficult to understand the predicted impact of the event.

jimjames

Nothing listed here https://corporate.marksandspencer.com/investors/shareholder-information/corporate-actions/2019

Do you have link to the info your broker sent?

paulh53b

It appears to be one of the resolutions at tomorrow's AGM. I can't post links but obvious search terms will find the docs.

MDMD

https://corporate.marksandspencer.com/msar2021/notice-of-meeting-2021.pdf

They are basically reducing the nominal value of the shares to lower the cost of the employee share plan. Each shareholder will ultimately still have the same number of shares, just at a 1p nominal value. The 24p deferred shares will ultimately  be cancelled (resolution 22) and they should have the same market value.

So no, the OP won’t lose out