Quote:
Originally Posted by LufcDeb
(Post 10395056)
...but I don't understand it. I didn't do anything with my shares in the end, I just kept my original 100 shares. Now there is money in my account and the shares are still showing on the current valuation?
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As part of the recapitalisation, you had the right to buy 9 more shares for every share that you held at close of trading on 16th January. Each of those rights in your case 900) was worth €0.25 EUR.
You had the option of doing the following:
1) Exercising your right to buy more shares up to the maximum of 9 per share already held.
2) Sell on the rights for some or all of those shares to somebody else. This effectively allowed them to purchase the shares instead of you.
3) Do nothing. Even though you chose option 3 and did nothing, there have been some pro-active brokers who after the deadline passed with them to take up the offer, simply sold on the rights on the open market on your behalf. Therefore the cash you have in your account will be the proceeds from that sale.
Whilst it is good practice, not all brokers did this and therefore not all rights were purchased and/or used. There were in fact a large number of shareholders who simply did nothing, lost the opportunity and TWDC have since bought up their allocation.
Despite all of this, your original 100 shares remain unaffected. Apart from them losing value, you still have 100 shares in EDL which should ensure you can continue to be a Shareholder Club member for some time to come. :thumb:
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