Advice Sought27 Jan 2011 17:47
Hi Guys & Gals
I have been dappling in both AIB and Bank of Ireland shares for the past few years. My ABLK shares were bought at various times through the London stock exchange to give me a modest holding of 10,000 shares currently.
With the recent increase in the state ownership in the bank the shares are being removed from the major stock markets and are being traded on the smaller Irish secondary share market
As the shares are being removed, my stock broker has presented me with two options. The first is sell all my holdings for an agreed price of €0.32 per share. While the other is hold them. This is my dilemma
If I sell the shares for this price I will make a large loose as my average SP is £0.87. On any other occasion I would decide to hold as I can wait for the shares to potentially recover (if they ever do :-)).
However what I am unsure about is that what happens to ABLK shares now that they are technically not being traded anymore? Do I still have share rights and options even though the shares are being traded on a secondary market that I have control over? Will the shares ever come back to the major stock markets? Am I better selling up no and taking the lose?
I’m not by any means an advanced share trader, so I would really appreciate your comments and thoughts.
thanks