Member Info for longtimeinvestor

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''up to over 20 quid with strong buys.''

it was at about £32 at the start of 2018

ej
I opened a buy SB yesterday at about 391.

I am extremely annoyed that I am still not able to make any further share investments in Aviva if I so wish. My account still shows a pre consolidated number with the new shares not able to be purchased.

share price now at the equivalent Friday close price.

Shares go up and down - yesterdays fall had nothing to do with the return and consolidation just as today's rise isn't.

hef
''I suspect it depends how each broker operates on the backend whether you will see the B shares in your account or not.''

you will not see 'B' shares - they are temporary - part of the return process - they would have already been redeemed

fb
''ended up buying 600 more to get back up to my 2500 at a rough price of 390p per share. Apart from push up my average buy price, i don't really see at the moment how i am better off. I am receiving money with one hand but have spent it to get back to the same position.''

You are not in the same position. You have decided to spend the cash earning nothing on the balance sheet with a further investment in Aviva and thus increasing your percentage ownership.

td
''will have to pay more per share to replace shares taken off us ''

you had cash sitting on the balance sheet returned.
You did not have shares taken off of you. The existing shares were consolidated.

gb
'' I could purchase better than they can. ''

How would you manage to make purchases at any other prices than are being made available on a daily basis by sellers?

gb
''our money has been used to be it back shares only for them to be reissued as staff bonuses''

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Did you not know that businesses have schemes whereby some employees can have some remuneration paid in shares instead of cash and employees are able to save on a monthly basis in order to purchase shares BEFORE YOU DECIDED TO INVEST?

currently at a 52 week high - still a good yield at this level

g59
I am not giving opinion, I am giving the facts.

Al
''It's also probably caused some people tax issues''

There are no tax issues with the return. There are only possible tax issues (cgt)in the normal way, when you actually sell shares if outside limits

Al
''this whole situation is a bit nonsensical in that it's caused me some extra hassle and fees?''

There is no hassle - you haven't had to do anything. You are being returned money just as a dividend would be returning money. What you do with the money is up to you just as it would be with a dividend .

Al
''Effectively they've forced me i to a share sale?''

NO - you haven't effectively sold shares . The number of shares that you had would have been devalued by the amount of cash being returned. The consolidation is just a cosmetic exercise to keep the new at roughly the same price per share. A consolidation does not involve a shareholder selling a percentage stake.
The value of 100 old shares after return would have the same value as the new 76 shares.

cas
''then buy back your shares with the B share proceeds and you will be in a similar position.''

no you wouldn't, you would be buying a bigger stake in the operational business of Aviva instead of a share in cash doing nothing

cas
''I would have preferred for Aviva to have used the capital to acquire stakes in other companies''

when you get the money, that is what you are free to do

G59
''Wouldn't you rather have had a nice special dividend & kept your original shareholding?''

What?
I am keeping my original shareholding - there is no percentage change in ownership from Friday to today. You or any other shareholder can decide if they so wish to , increase the percentage ownership with a purchase of shares with the returned money, rather than the money sitting doing nothing

g59
''Now, if they declared a special dividend then that would have been a return of capital to the long suffering shareholders.''

what?
a return of capital IS taking place

Kim
Yes - all shareholders should have known the timetable of events a long time ago

Broom
You have gained in having cash to do with as you please, as opposed to the cash just sitting on the balance sheet doing nothing - many shareholders I imagine may want to increase their percentage ownership of Aviva by making a further purchase with the returned money

R
'' am I correct in thinking ''

No