I foolishly bought three lots of Lastminut.com shares when they were first floated some years ago.
I cant remember how many I got, but they cost me around 3.80p each.
Today I have a cheque from Travelocity for 57 with something referring to a Scheme of Arrangement.
Am I right in thinking that they have compulsory purchased my shares for a mere fraction of what I paid for them?.
Can they do this ?.
And if this is the case, why on earth would anyone buy shares when an organisation can come along and buy your shares without even asking you ?.
Any help on this would be appreciated, my faith in shares is even further reduced than it already was. Thank God my savings are not tied to shares.
Full Version: Lastminute.com Compulsory Purchase ?.
QUOTE
Travelocity bought the company, presumably with shareholder approval (that article said approval would be required, so I assume that happened).
Thanks for that Mark
It does indeed appear from what I have found on the net that they have bought my shares from under my feet.
I had hoped to just keep them forever on the offchance that they might become the new Coca Cola and my grandchildren if I had any would find them in the Attic in sixty years time.
It is very worrying to see that a company can go to court and get a Scheme of Arrangement order and then buy up your shares on a whim.
They did pay over the quoted price of the day, but none the less my confidence is shattered even further now when it comes to shares.
I hate to say it but I think I am going to stick to Bricks and Mortar its the only thing I know.
It does indeed appear from what I have found on the net that they have bought my shares from under my feet.
I had hoped to just keep them forever on the offchance that they might become the new Coca Cola and my grandchildren if I had any would find them in the Attic in sixty years time.
It is very worrying to see that a company can go to court and get a Scheme of Arrangement order and then buy up your shares on a whim.
They did pay over the quoted price of the day, but none the less my confidence is shattered even further now when it comes to shares.
I hate to say it but I think I am going to stick to Bricks and Mortar its the only thing I know.
Just be glad you didn't buy any British Energy or Railtrack shares then you would know what it really feels like to be screwed by this government.
same here. got the same cheque today 
i remember justifying my idiocy for getting caught up in the dot com frenzy by quoting that old chestnut
"well its a long term investment isn't it?"
looks like thats blown out the water then!!
(oh well at least i used me free bradford and bingers shares to make a deposit for a flat (now binned) - so my investing career was not entirely rubbish)
i remember justifying my idiocy for getting caught up in the dot com frenzy by quoting that old chestnut
"well its a long term investment isn't it?"
looks like thats blown out the water then!!
(oh well at least i used me free bradford and bingers shares to make a deposit for a flat (now binned) - so my investing career was not entirely rubbish)
Wealth transfer in motion.....The power of confident masses!!!
QUOTE(dunroamin @ Aug 4 2005, 11:44 PM)
same here. got the same cheque today
i remember justifying my idiocy for getting caught up in the dot com frenzy by quoting that old chestnut
"well its a long term investment isn't it?"
looks like thats blown out the water then!!
(oh well at least i used me free bradford and bingers shares to make a deposit for a flat (now binned) - so my investing career was not entirely rubbish)
i remember justifying my idiocy for getting caught up in the dot com frenzy by quoting that old chestnut
"well its a long term investment isn't it?"
looks like thats blown out the water then!!
(oh well at least i used me free bradford and bingers shares to make a deposit for a flat (now binned) - so my investing career was not entirely rubbish)
That the littlist hobo you got as an avatar?
QUOTE(laurejon @ Aug 4 2005, 04:09 PM)
I foolishly bought three lots of Lastminut.com shares when they were first floated some years ago.
I cant remember how many I got, but they cost me around 3.80p each.
Today I have a cheque from Travelocity for 57 with something referring to a Scheme of Arrangement.
Am I right in thinking that they have compulsory purchased my shares for a mere fraction of what I paid for them?.
Can they do this ?.
I cant remember how many I got, but they cost me around 3.80p each.
Today I have a cheque from Travelocity for 57 with something referring to a Scheme of Arrangement.
Am I right in thinking that they have compulsory purchased my shares for a mere fraction of what I paid for them?.
Can they do this ?.
Yes. They got shareholder approval - you should have received the offer circular about 3 months ago.
QUOTE
And if this is the case, why on earth would anyone buy shares when an organisation can come along and buy your shares without even asking you ?.
They did ask. The pat answer is that you can use the cash paid out for your lastminute shares to buy some Travelocity shares if you wanted to retain an interest.
QUOTE(theChuz @ Aug 6 2005, 01:58 PM)
That the littlist hobo you got as an avatar?
hi chuz,
yep - most certainly is! although have just noticed someones signed up as Hobo - so will have to have a rethink on the old avatar (don't wanna steal hobo's thunder).
not bothered anyway. Richm's got it in for him, and hes getting on my nerves coz i get his flippin theme tune stuck in me head whenever i see him
oh - and congrats on the veteran status btw - most impressed
edit: - just to make clear that its the piccy of hobo, rather than richm that is getting on me nerves
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