Must be some on the law of averages. Anyone able to explain the Scheme of Arrangement thing in words a thickie like me can understand? The communications to us, the owners of the business, have been appalling. I've not found an explanation that was either so simplified as to be useless or where the meaning was buried within paragraphs of legalese.

As I understand it, we're gonna get just over £1 for each share held, some in Verizon stock, some cash. Yesterday my Vodafone holding with Selftrade was 'consolidated' at the rate of 6 new shares for each 11 held. And some Verizon shares duly dropped into my portfolio. And I duly sold them, being too lazy to do the research on whether they were worth holding on to. But no cash yet. Was the cash bit the'consolidation'?

Confused.

Your holding has been consolidated at a rate of 6 New Vodafone Group Plc Ordinary Shares of USD0.20 20/21 (ISIN: GB00BH4HKS39) for every 11 existing shares held. We will also be
crediting you with 0.0263001 Verizon Communications Common Stock (ISIN: US92343V1044) for every 1 share held.