[BetBlowWhistler]

Originally Posted by Dephormation

I went out at lunch, got an ice cream, and though doh! USD conversion. So I just checked it all out again.

Pleased to say, I think I am not wrong. All currencies are GBX.

PHRX.L; bid offer spread is £16.00 - £25.00, mid point is £20.50

PHRM.L; bid offer spread is £11.00 - £11.75, mid point is £11.37

So if I take 50,000 of PHRX.L (worth 50,000 x £20.50 = £1,025,000)

and convert it to

PHRM.L (worth 50,000 x £11.37 = £587,500)

I lose £1,025,000 - £587,500 = £437,500.

Almost half the value. And my unrestricted shares suddenly become restricted Regulation S shares. I can't sell them in the USA.

Now, I know nothing about share dealing it must be said, but to my untrained eye that looks like an awfully poor investment choice.

If this was a stock people wanted to buy, why devalue it, and sell it at half price.

Seems barmy to me.

The reason we watch Phorm so carefully, is because when we don't, strange things start happening to our net connections.

From what I read about Reg-S shares doesn't this mean they can now be sold in the Uk and elsewhere in the world? (without the protection afforded to the USA based shares).

Perhaps it's something you would need to do if you were going to allocate shares to uk employees or something. IANASB (that's stock broker, not son-of-a-bitch, that would be IANASOAB..and would also be a lie )