I have 50,000 Telewest shares. The company became New Telewest earlier this year so should I have received a new share certificate and are the shares trading?
Richard Hunter from Hargreaves Lansdown Stockbrokers says: Telewest underwent a financial restructuring which became effective in July 2004, whereby shareholders received 1 new Telewest share for every 804 previously held thus, on a shareholding of 50000 shares the reader will now have approximately 62 shares in the new company. These shares are now chiefly traded on the US’ NASDAQ index, although shareholders will have received notification that their shares are now held in CDI (CREST Depositary Interest) format. This basically means that they are being held in a nominee account at Lloyds Registrars, and can either be transferred to the reader’s broker or indeed sold via Lloyds Registrars’ postal service. The shares are thinly traded in London and at the time of writing they are approximately 880p per share. To dispose of the shares using the Lloyds service the reader should contact Lloyds Registrars at The Causeway, Worthing, West Sussex. BN99 6DA, telephone 0870 532 9430.
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