Microfocus shares

[Matt_Stocker]

Hi,

I would like to know why my 12 Microfocus shares were sold, then 9 were purchased. The Proceeds from the automated sale have not appeared in my account, not withstanding it was not initiated by myself nor was I informed that this might happen.

I am seeing a discrepancy between what I expect to have lost and what I have lost. The share price has dipped 4.9% since I purchased the shares, I have however lost about 32%.

From an initial purchase totaling £232 at 1858.76 = 12, i now have 9 shares at 1770, the proceeds of the 3 shares at 1770 (£53 or thereabouts) depending on the 30th of April enforced sale price should be in my account should they not?

Can you let me know what has happened here? I know they performed a buy back or something like that, however my expectation here is not that I should lose around ~£70 or so of investment as a result of their activity.

 

Kind regards,

Matt

[JamesIG]

Micro Focus has recently undergone a stock consolidation (a corporate action) in the underlying market which we have reflected on your account. 

Depending on your line (US or UK) the following should apply. 

[Guest Potential New Customer]

Out of interest, what sort of notifications do customers receive about pending corporate actions?

Thanks

[Matt_Stocker]

3 hours ago, JamesIG said:

Micro Focus has recently undergone a stock consolidation (a corporate action) in the underlying market which we have reflected on your account. 

Depending on your line (US or UK) the following should apply. 

Hi JamesIG,

Thanks, relatively new to this and especially new to this behaviour. It never hurts to ask, right.

Understood that the consolidation reflects the incorporation of another into the base, effectively dilution of the stock I guess. Because they've had a decent run of late they, MF, took this opportunity to rebase... Cool, best to learn this stuff with a pinch of skin in the game or you never learn.

Thank you for taking the time to answer.

All the best,

Matt

[JamesIG]

12 hours ago, Matt_Stocker said:

Hi JamesIG,

Thanks, relatively new to this and especially new to this behaviour. It never hurts to ask, right.

Understood that the consolidation reflects the incorporation of another into the base, effectively dilution of the stock I guess. Because they've had a decent run of late they, MF, took this opportunity to rebase... Cool, best to learn this stuff with a pinch of skin in the game or you never learn.

Absolutely @Matt_Stocker - the whole purpose of Community is to offer that transparent open space to all clients (and guests!) who have questions. No one can know everything, especially given the number of markets we offer and the multitude of different dealing and trading functionalities and strategies, so its always best to put your questions to the forum. Happy trading - shout if we can ever help further.