Hi guys,

I have some shares in SGP which have been bought out by another company. They've given me the option to sell the shares for 20p each, which is less than what I paid. If I decline to sell them, what happens to the shares I own? Do I lose them or do they get transferred to the new company?

Cheers,
Jon

You do not lose the shares but in takeovers etc you generally find them swapped for the new owner's shares or there are certain circumstances (e.g. taking private) where you can be forced to sell them.

Who/what is SGP? Not SCHERING PLOUGH CP which is trading at $30 on NYSE?

i had a similar thing when i had shares in Ultraframe.

they got bought out and i was offered 30p for each of my shares when i bought them at £1.20 (lukcy i had sold half of them when they where at £5 + )

once they have bought i think 90% of the shares they can de-list the company from the stockmarket. which looks like what universal music are doing.

you need to read the share offer that they have sent you.

SGP is Sanctury Music Group. Cheers for your answers - I'll hold on to them and see what happens. Can't lose much more money on em

[Edited on 27/6/07 by joneh]