Bankruptcy

[Stingray77]

Hi support 

Can you tell me what happens if a share ceases to trade, because the company has been wound down? I.e if I had a position of £200 pp in a 2p share would that be a £400 loss or would my position just cease to exist and I'm liable from what ever positive or negative balance I gave on that share?

[AndaIG]

1 hour ago, Stingray77 said:

Hi support 

Can you tell me what happens if a share ceases to trade, because the company has been wound down? I.e if I had a position of £200 pp in a 2p share would that be a £400 loss or would my position just cease to exist and I'm liable from what ever positive or negative balance I gave on that share?

Hi @Stingray77

Thanks for the question

We will close your position at a price of zero, meaning that you would realise the GBP400 loss. We will then typically open a proceeds line which is untradeable and brings no value to your account. If the company is ultimately declared worthless and there is no return to shareholders, then the proceeds line will be closed at a price of zero. Hope this helps

Regards

Anda