I read an article that was posted on the BP site, about whether to buy BP or Shell. Basically it advised to buy BG because their shares would be converted to Shell ones. Do I take it that I'm too late for this ?
"WTI $47.82 +16c, Brent $50.79 +33c, Diff -$2.97 +17c, NG $3.23 +3cSo, the story goes like this: the momentum of the market is downwards it is only going one way. How do we know that? Well in recent weeks while crude stocks were falling and ..."
You must be one of the few people in Blighty who don't know that Shell bought BG back in February. Check your portfolio which should show that you have a number of Shell shares and some cash where you once had BG.
I don't know SBG's view but I am 100% certain that the dividend which went xd in February will be payable on the new shares. The scheme went through before the xd date, so relax ... you WILL get the divi, no worries.
Surely Questor is talking about British Gas, the domestic retailer that is100% owned by Centrica and contribute significantly to Centrica's turnover and profit, and NOT BG, the exploration and extraction company now owned by Shell?
Thanks Shaggster, being a pensioner I left things as they were and went for the simple option in the belief that shell was a good deal divi wise. I have certainly got my monies worth from BG and will now have to wait to see which way the mop flops before deciding on my next option.
Unless you completed the opt out form for the Shell Nominee service - which was included in all the correspondence, you will (like me) be waiting for confirmation through Equiniti.
Once the first divi is banked I am sure I will elect for the scrip or DRIP scheme (whatever they have in place)
I have paper share certificates from the "Sid" days and I am lazily taking the default option, do I now get new Shell B certificates plus the cash or do I have to trust Equiniti to look after my holdings and perhaps tell me how many B shares they are holding for me.
I doubt we will all get the cash on the same day. But hopefully we will all have it by the 29th Feb.
My reasoning is, that both Shell and our brokers have to work out and distribute our entitlements. Some brokers are very efficient and may well get your cash entitlement credited quite quickly after Shell send them the cheque. But others, like iii, will probably be more tardy.
This is probably because the precise amount of cash is a little hard to calculate. The number of shares is easier to calculate, so perhaps this is why your account shows the number of shares you now have but not the cash. Anyhoo, Shell have till 29 February to pony up the cash according to the scheme document.
" I've opted to take all shell shares if there are any to allocate, do deem this a wise move on my part?"
An exceedingly wise move, m8, (thus far) provided you elected to take all Shell shares before the deadline was reached. If you did nothing you'll get the default which is OK but not as good as max Shell shares.
warrenbufet, my online account is still showing BG at a price of 383. This is the cash element of the deal and will become cash when Shell settle the deal (by the 29th they say but could be earlier). I also have RDSB shares showing in my account now but each broker will take different times to show these.
Check your portfolio again and see if you have the Shell shares and if BG are set to 383 and not moving, If so, your broker is efficient and correct. If BG is set to Fridays close price, it is confusing but almost correct and they will disappear altogether sometime soon.
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