So its a win, win for VodafoneArticle in the Irish Times today with more details of the share consolidation and sale.
So for every Vodafone share I have, I'll receive 0.026th of a share in Verizon. And then in a week or so, the shares I do have in Vodafone will be reconsolidated and for every 11 I hold, I'll receive 6 of the new shares instead.
You are one of the lucky ones. I have found them to be pretty pathetic. I think their call centre staff are under severe pressure as the two I have spoken sounded very tense and far from helpful. I also believe that they were giving out information that may be wrong and should be verified by the Irish Revenue beforehand.I've found their handling excellent.
I posted everything back in the one envelope and had no problem.I returned my election form in the envelope provided but I am now wondering if this envelope was only to be used for the return of the proxy form and that perhaps this caused an extra delay for it to be forwarded to a different office.
Assuming you sell your Verizon shares you should be getting about €1.24 per original Vodafone share between the return of value and sale proceeds of the Verizon shares. For some reason I only got the former lodged to my bank account so far but my Computershare investor account online seems to show that the Verizon shares have been sold...Can someone please check these figures.
If I held 1100 vodafone shares and sold them prior to split at £s2.40 i would have got €3200
After split I get:
Cash €400 (1100*0.365c)
28 verizen shares @ 46$ = €938
600 vodafone shares @£s2.47 = €1800
I understand that values are changing all the time but am I doing things correctly?
Well Vodafone themselves call it a "return of value" which is accurate.Thanks Clubman, funny how all media and "experts" called it as a windfall. It seems more of a consolidation, with little if any financial gain.