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Corporate Actions - A Concise Guide: An introduction to securities events by Francis Groves

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7. Corporate Actions Wreaking Change on Shares

How a shareholding can change even if you do not lift a finger

For an understanding into just how radical the effect of corporate actions can be, a look at one particular company over a period of three years throws up some useful insights.

Hereward Ventures came to the Alternative Investment Market (AIM) in February 2001 as a minerals exploration company with prospecting licences in Bulgaria and Ireland. In 2003, the company’s strategy was switched from mineral exploration assets to hydrocarbon interests.

Take, for example, a shareholding in Hereward Ventures of 115,000 shares at the end of 2003, which would have been worth approximately £5,000; the shares trading at about 4.4p each. A year ...

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