Hold MCB in ISA account?9 Nov 2020 03:49
"McBride has announced a Return of Capital whereby shareholders have been issued with 11 interim shares for each
Ordinary share held. The ex-entitlement date is 26th October 2020.
ISA and SIP account holders are unable to convert their Interim shares into B shares. This is due to the B shares being
ineligible to be held in these account types. As a result, each Interim share will then be redeemed for cash at a rate of
GBP0.001 per share.
Accounts are expected to be updated with the cash proceeds on 27th November 2020"
Anyone holding MCB in their ISA account who got this corporate action message?
As I cant convert into B shares, what is the amount I expect to receive on a share holding of 10,000?
Since this is mandatory redemption, will my ordinary shares be sold at market value? and Interim shares redeemed at GBP0.001?
Be grateful if any seasoned investors can shed some light on this. Thanks in advance.