The UK Shareholders Association writes in its latest bulletin:
"No sooner had we issued a note saying how stupid was it for the Government to nationalise Northern Rock than they went ahead with it. The statement from Chancellor Alistair Darling given at a press conference today (Sunday) can be read at:
http://www.hm-treasury.gov.uk/newsroom_and_speeches/speeches/statement/statement_chx_170208.cfm
We immediately issued a press release which can be seen at:
http://www.uksa.org.uk/UKSA_Press058_NRK_Nationalisation.pdf
As the shares will be suspended from trading on the stock market before it opens tomorrow you are effectively locked in and they are no longer saleable. You will have to rely on any offer of compensation from the Government (which clearly will be nil as explained in our press release) or on any legal action we or other parties may pursue.
http://www.uksa.org.uk/NorthernRock_Update_24.pdf
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