Consolidation2 Apr 2014 13:38
My mother has a letter from Halifax share dealing advising that at the AGM RSA propose to ask for consolidation of shares on the ratio 5 existing shares to 1 "new" share. Surprised no one has received anything similar and that there is not a lot of opinion being expressed. Their reasoning is that consolidation will increase the share price to a level in line with their competitors ans will reduce the amount of shares in circulation.The revised share price would be approx £4.50. Seems odd to increase the number of shares with a rights issue then a month later (May) reduce the umber by a factor of 5.