NR shareholders told to "prepare for worst"

Grovelawn Financial News 22/02/2008

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Shares suspended

Northern Rock shareholders have been advised that they may well see no return on their investments. Some shareholders have had shares since the Rock became demutualised. The shares have been suspended at 90p and now that it has been placed in the publics hands the 100,000 shareholders are unable to trade them in.

The share price has fallen 86 per cent since mid September and are now worth as little as 5p. Shareholders will need to wait until the suspension has expired and an independant panel has decided on what the shares are worth and even though the bank does still have assets the shareholders may still be very much out of pocket. The government will continue to guarantee savings with NR through a deal brokererd in September.

← Northern Rock's fate imminent | News For February 2008 | Buy to lets rise →

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