Tuesday, August 15, 2006

Selling my Charlton shares

I have just got my stockbroker to sell my Charlton shares at a price of 37.2p. The transaction took a little longer than one on the main market as the market makers had to be contacted.

Why have I sold?
1. The original purpose of the shares was to make a donation to the club and that objective has been fulfilled.
2. The shares will be more difficult to trade in future and might eventually be a complication for those handling my estate.
3. The flow of information to shareholders is likely to diminish once the club comes off the AIM market.

This is in no way a criticism of the club's decision which seems to be perfectly sensible on grounds of administrative cost.

This note does not constitute advice as to what you should do with any shares that you hold and you should not take any decision to dispose of your own shares without seeking appropriate advice, e.g., from your independent financial adviser.


Blogger Steve0 said...

Just out of interest: did you actually turn a profit, Wyn?

4:10 PM  
Blogger Wyn Grant said...

I can't now recall the original price - in any case I bought three tranches of shares at different times. But I think that I probably made a moderate loss, but as I never expected to sell the shares, it is a kind of bonus.

7:43 AM  
Blogger Steve0 said...

This comment has been removed by a blog administrator.

12:35 PM  
Blogger Steve0 said...

Could have been alot worse. Back in '98 I was working at a US investment bank in the City, and a colleague got very excited 'cos his mate was a lawyer advising Millwall on a share issue scheme. He actually managed to persuade some other co-workers to buy hundreds of pounds worth of penny shares. I don't think they have ever made it past the 2p mark. Chortle.

12:36 PM  

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