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Query about long-standing Marks & Spencer Shares
katieoliva
Posts: 15 Forumite
Hello I am helping a friend who bought 364 Marks & Spencer shares in 1999. She has the original receipt. She says that she has never sold any shares. Recently she had some correspondence from M&S which showed the number of shares held as 294. She recalls some sort of change regarding the shares some years ago but is unclear about what happened. The change came from M&S and was a restructuring possibly, if her memory is correct. Does anyone know about this? Would it explain why her number of shares held has dropped? She can't find any paperwork about the change.
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Comments
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https://corporate.marksandspencer.com/investors/shareholder-centre/corporate-actions#accordion-item-link-2002-capital-reorganisation explains the 2002 share reorganisation, which gave shareholders 17 new shares for every 21 old ones (hence 364 became 294), plus some extra B shares.
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There was probably a share consolidation of some sort. It seems very odd that she has not received any dividends or company notifications in the last 24 years. Has she moved house in that time?Remember the saying: if it looks too good to be true it almost certainly is.0
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