Online Broker factsheet issue - number of units held reduced for no reason

Linton

MarcoM said:

Hi,

I now hold 59 shares at 129.25 per unit

Bought 2,850 at 105.26 unit cost in February 2022.

-98% as of today.
 The share is SAIPEM SPA.

I understand the consolidation but to end up at -98% as a result?

With a bit of research..

May 23rd 100-> 21 consolidation
Jun 13th 10->1 consolidation

so an approx 50X consolidation.

Looking at the share price on the net it hasnt been a great  investment but there is no sign of a 98% drop.  The share price (I believe assuming post consolidation units) is 2.61 Euro on the 22nd Feb and 1.52 Euro now, up from 1.25 at close of business on Friday.

So the number of shares you hold is right.  Your share price nowish is right. What looks wrong is the 105.26 cost in Feb 22.  It does not seem to correspond to the prices given on the net.  The price per old unit using the data on the net should have been 2.61X21/1000= 0.0548 euro.  How much in Euro did you actually pay for your shares? 

MarcoM

Linton said:

MarcoM said:

Hi,

I now hold 59 shares at 129.25 per unit

Bought 2,850 at 105.26 unit cost in February 2022.

-98% as of today.
 The share is SAIPEM SPA.

I understand the consolidation but to end up at -98% as a result?

With a bit of research..

May 23rd 100-> 21 consolidation
Jun 13th 10->1 consolidation

so an approx 50X consolidation.

Looking at the share price on the net it hasnt been a great  investment but there is no sign of a 98% drop.  The share price (I believe assuming post consolidation units) is 2.61 Euro on the 22nd Feb and 1.52 Euro now, up from 1.25 at close of business on Friday.

So the number of shares you hold is right.  Your share price nowish is right. What looks wrong is the 105.26 cost in Feb 22.  It does not seem to correspond to the prices given on the net.  The price per old unit using the data on the net should have been 2.61X21/1000= 0.0548 euro.  How much in Euro did you actually pay for your shares? 

Hi Linton and other who replied, first of all thanks for the interest in my question.

Shouldn't the broker have written to me about the options regarding this consolidation?
I remember for another share I held they did write to me.

Also the number of shares held was correct up to cop on Friday, shouldn't the number of shares have been altered a bit earlier than that considering the consolidation dates?

In answer to your question:

Saipem SpA NPV
2850 @ 105.26
Price (EUR) Exchange rate Price (pence) 1.2610518749 0.8347 105.26 
for february purchase

Linton

Sorry I am baffled.  If you look on the HL website https://www.hl.co.uk/shares/shares-search-results/s/saipem-spa-npv2 you will see that the buy and sell prices are completely different to the values on the graph.  All I can suggest is that you talk to your broker.  Is it HL?  If it is, perhaps their data is wrong from the consolidation.

Please let us know the answer.

MarcoM

Will do.

Do you think they should have informed me in advance of this consolidation?

wmb194

Linton said:

MarcoM said:

Hi,

I now hold 59 shares at 129.25 per unit

Bought 2,850 at 105.26 unit cost in February 2022.

-98% as of today.
 The share is SAIPEM SPA.

I understand the consolidation but to end up at -98% as a result?

With a bit of research..

May 23rd 100-> 21 consolidation
Jun 13th 10->1 consolidation

so an approx 50X consolidation.

Looking at the share price on the net it hasnt been a great  investment but there is no sign of a 98% drop.  The share price (I believe assuming post consolidation units) is 2.61 Euro on the 22nd Feb and 1.52 Euro now, up from 1.25 at close of business on Friday.

So the number of shares you hold is right.  Your share price nowish is right. What looks wrong is the 105.26 cost in Feb 22.  It does not seem to correspond to the prices given on the net.  The price per old unit using the data on the net should have been 2.61X21/1000= 0.0548 euro.  How much in Euro did you actually pay for your shares? 

There's been another i.e. a third consolidation today. €105 in Feb 2021 was a possibility...

wmb194

MarcoM said:

Will do.

Do you think they should have informed me in advance of this consolidation?

What are you angling at? The nature of owning shares in individual companies is that it behooves you to keep on top of things. It looks like the situation with this company moved quickly. Which stockbroker? Execution only stockbrokers won't accept liability for anything.

Linton

wmb194 said:

Linton said:

MarcoM said:

Hi,

I now hold 59 shares at 129.25 per unit

Bought 2,850 at 105.26 unit cost in February 2022.

-98% as of today.
 The share is SAIPEM SPA.

I understand the consolidation but to end up at -98% as a result?

With a bit of research..

May 23rd 100-> 21 consolidation
Jun 13th 10->1 consolidation

so an approx 50X consolidation.

Looking at the share price on the net it hasnt been a great  investment but there is no sign of a 98% drop.  The share price (I believe assuming post consolidation units) is 2.61 Euro on the 22nd Feb and 1.52 Euro now, up from 1.25 at close of business on Friday.

So the number of shares you hold is right.  Your share price nowish is right. What looks wrong is the 105.26 cost in Feb 22.  It does not seem to correspond to the prices given on the net.  The price per old unit using the data on the net should have been 2.61X21/1000= 0.0548 euro.  How much in Euro did you actually pay for your shares? 

There's been another i.e. a third consolidation today.

Are you sure? Google only find's the two I listed.  I dont think a split/consolidation would show on the graphs as they normally show the prices in terms of the latest shares.  I suspect those steps are genuine share price falls.

masonic

MarcoM said:

Do you think they should have informed me in advance of this consolidation?

It is not the broker's responsibility to deliver news to you about the shares you hold. Companies make regular announcements related to their stock, and if you choose to invest in individual company shares, you should be regularly checking for these. In addition, many companies will have an investor relations section of their website, where they collate such information. In short, when you DIY, you need to DYOR.

masonic

Linton said:

wmb194 said:

Linton said:

MarcoM said:

Hi,

I now hold 59 shares at 129.25 per unit

Bought 2,850 at 105.26 unit cost in February 2022.

-98% as of today.
 The share is SAIPEM SPA.

I understand the consolidation but to end up at -98% as a result?

With a bit of research..

May 23rd 100-> 21 consolidation
Jun 13th 10->1 consolidation

so an approx 50X consolidation.

Looking at the share price on the net it hasnt been a great  investment but there is no sign of a 98% drop.  The share price (I believe assuming post consolidation units) is 2.61 Euro on the 22nd Feb and 1.52 Euro now, up from 1.25 at close of business on Friday.

So the number of shares you hold is right.  Your share price nowish is right. What looks wrong is the 105.26 cost in Feb 22.  It does not seem to correspond to the prices given on the net.  The price per old unit using the data on the net should have been 2.61X21/1000= 0.0548 euro.  How much in Euro did you actually pay for your shares?

There's been another i.e. a third consolidation today.

Are you sure? Google only find's the two I listed.  I dont think a split/consolidation would show on the graphs as they normally show the prices in terms of the latest shares.  I suspect those steps are genuine share price falls.

There's no indication of a third consolidation on Saipem's investor relations website. The other two were announced and followed an EGM approx. 1 month prior. Their share price chart seems to have factored in previous reverse stock splits, so price was not impacted around 23rd May and 13th June, but the shares have plummeted since 21st June.

https://www.saipem.com/en/investor-relations/shares

wmb194

Linton said:

wmb194 said:

Linton said:

MarcoM said:

Hi,

I now hold 59 shares at 129.25 per unit

Bought 2,850 at 105.26 unit cost in February 2022.

-98% as of today.
 The share is SAIPEM SPA.

I understand the consolidation but to end up at -98% as a result?

With a bit of research..

May 23rd 100-> 21 consolidation
Jun 13th 10->1 consolidation

so an approx 50X consolidation.

Looking at the share price on the net it hasnt been a great  investment but there is no sign of a 98% drop.  The share price (I believe assuming post consolidation units) is 2.61 Euro on the 22nd Feb and 1.52 Euro now, up from 1.25 at close of business on Friday.

So the number of shares you hold is right.  Your share price nowish is right. What looks wrong is the 105.26 cost in Feb 22.  It does not seem to correspond to the prices given on the net.  The price per old unit using the data on the net should have been 2.61X21/1000= 0.0548 euro.  How much in Euro did you actually pay for your shares? 

There's been another i.e. a third consolidation today.

Are you sure? Google only find's the two I listed.  I dont think a split/consolidation would show on the graphs as they normally show the prices in terms of the latest shares.  I suspect those steps are genuine share price falls.

I think today's 'split' indicator relates to the rights issue period that's begun today. To be fair to the OP's broker it still has time to make contact and ask for instructions before the 11/07/22 deadline.

https://www.saipem.com/sites/default/files/2022-06/PR%20Saipem_22.06_2022.pdf