I hold a few hundred 's worth of shares in telewest, my original buy was 1000, they have lost apx 80%, Telewest say shareholders will only get 1.5% of the company after restructuring, is it worth hanging in or will i lose even more like the Marconi troubles.

Posted today....

LONDON (AFX) - Telewest Communications PLC said as part of its planned financial restructuring, it intends to cancel the listing of its ordinary shares on London Stock Exchange with effect from 4.30 pm on July 14.

The cancellation is conditional upon, among other things, the Telewest and Telewest Finance (Jersey) Ltd schemes of arrangement being sanctioned by the High Court of England and Wales and the Royal Court of Jersey at hearings on June 17, 18 respectively.

Telewest also expects its American Depositary Receipts will cease trading on the Nasdaq on July 13.

newsdesk@afxnews.com

jc


Anyone know what the above means, i am only a small dabler in shares but have some in TWT, so any of you know it alls care to tell me what the above will mean to us poor shareholders?

It effectively means that you should sell your holdings before that date....otherwise you might not be able to cash in on your holdings through the LSE system after that.

Or you could wait for the stock to be listed on the NASDAQ market....then choose to decide what to do. Might be worth selling now and once they are listed on the NASDAQ market after the restructing has been carried out...buy back in then.

I am keeping mine for the NASDAQ as I see them attaining $10-20 per consolidated share in the short term, bearing in mind the consolidation rate is 1 new for 804 old (i.e. 125 per 100000). With debt dramatically reduced and bondholders now main share holders, they will do their utmost to gain maximum value from the debt for share swap imho. also with the grief and painstaking management time taken up over last 12 or so months, they can now concentrate on what they do best - fibre optic cabling, broadcast management etc. I am confident they will return from `the grave`.
good luck anyhow

I took my money and run, all the way to a 18% profit this week!!! :o)