Vodafone offers Irish shareholders chance to sell stock cheaply
Published 03/02/2016 | 13:21
Vodafone has launched a scheme for Irish shareholders in the firm to sell their shares at a reduced cost, which they received as far back as 1999 after the initial offering of Eircom.
The new scheme is aimed at small shareholders who have less than 1,000 shares in the firm and will run from February 23 to May 24 of this year.
For shareholders with under 50 shares, the service is free.
Vodafone shareholders are being offered four options to either sell their entire shareholding using the low cost facility, buy more using the facility, to sell and donate proceeds to charity, or to do nothing and retain their existing shareholding.
Vodafone has 334,342 shareholders in Ireland.
Irish shareholders acquired the shares when Eircom (now known as Eir) sold off its mobile phone business, Eircell, to Vodafone in 2001.
Under current rates shares in Vodafone would have to rise by 50pc in order for shareholders to break even on their original investment.