You will just get replacement shares in LLoyds TSB - In your case (if you don't take up the offer) about 114 shares.

The HBOS share cert will be valueless as they won't be traded any more.

Cheers for the reply, so when HBOS disappears what will happen to the existing HBOS shares? will they remain a separate entity or will they be added in onto the Lloyds TSB share value?

You can currently buy HBOS shares on the open market at ~ £0.73 so why pay £1.136 ??(40p premium) HBOS will vanish in Jan anyway as we are getting ~ 0.6 Lloyds TSB shares per HBOS share.

I wish I was only £2200 down on my portfolio!!

I received a letter from HBOS this morning, with a HBOS shareholder account open offer application form enclosed, but this be honest I dont know what to do with it.

Ive read the form but I dont know whether its a good idea to send the form back with in the free self addresses envelope.

"Open offer by HBOS plc to qualifying shareholders to apply for £1.3839 open offer shares for every one Existing HBOS shares at 113.6 pence per Open Share Offer [ayable in full on application by no later than 11am on 9 January 2009".

I just cant work out what id be signing up too, ive got 189 ordinary shares, Number of open offer options comprising my open offer entitlement is 261 and it says the amount i must payfor the 113.6 pence per open offer share if i apply for my full entitlement is £296.49.

Can anyone give me a brief break down about what this is about and is it actually worth me buying these open offer shares, because all this is quite confusing and i wouldnt want to miss out on a bargain and i wouldnt wanna lose any more money, as ive lost over £2,200 in the last 3 or 4 months on stocks and shares.

Any help would be much appreciated,

Kind Regards,

Marcus