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  1. #1

    Halifax shares help

    Evening Gents

    I forgot i had a silly 500 bet if you like back in 2011, i brought 28,968 shares at 1.68p, i forgot about these till now.

    I checked tonight and i have now only got 1448 shares, something called corporate action happened in july 2017, thats when these changes happen.

    So the price today is 3.68p, so which the original share i brought, it should be worth just over 1k, but its actually worth (1448 x 3.68) =53 ish pound.

    Can somebody tell me how, why, and if they can do that?

  2. #2
    Which companys shares did you buy and are you sure the current price is not 3.68?

  3. #3
    Halifax/HBOS/LBG shares have never traded at those levels.

    So which company is it?

    Regardless, you've probably gone through a corporate action where every twenty shares has been replaced by a single share worth, at the time, twenty times the value of the old share. Alas, this has subsequently coincided with the overall value of the company plummeting.

  4. #4
    Sometimes companies with rising values split their shares and issue 2 to 5 or 10 new ones for each old one, with a corresponding change in price.

    This appears to be the reverse, like a consolidation

    28968 / 20 = 1448.4

  5. #5
    The link below is to a 2-page PDF which details the full share history of the Halifax including rights issues and corporate changes.
    Halifax was taken over by Bank of Scotland and became HBOS in Sep 2001.
    HBOS was taken over by Lloyds in Jan 2009.
    You would have been unable to buy Halifax shares in 2011.
    Link: srYAhWFmbQKHesrATwQFgg1MAM&usg=AOvVaw0oFpfkQAFc4Nz I7zYJvRyZ


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