BBC NEWS | Programmes | Working Lunch | Your shares questions answered

Stephen Ford of stockbroker Brewin Dolphin tackles your questions on shares.

Jane Maunder from Somerset wants to know where you can get basic information about the stock market, such as explanations of the language and terminology.

The internet is the first place to start, but there are also some very good publications.

Lamont's Guide to the City is a good one.

Stockbroking isn't rocket science. We buy and sell shares and it can be easy to understand.

And then there's Working Lunch of course, and its excellent website!

Barclays shares; Adam did cover this briefly last week but Joan Sampson, Stephen Clark, Mark Spear, Jay Gilbert, Jim Hill, Judith Jennings, Colin Outhwaite and Lance Edmunds in France among others have all been in touch.

Can you explain why Barclays shares appear to have suddenly fallen to a quarter of their value?

There's been a share split; they now have four new shares, which together are worth the same as the single old one. They should be receiving new share certificates shortly. It was announced on 14 February at the AGM.

And Helen Morris asks does this mean when she comes to sell them she'll incur four sets of charges?

No, stockbrokers take a charge based on the amounts of money being sold, not the number of shares.

And Reg Littlecot asks will the new shares come through the post?

Yes, they will.

Maureen Batterbee says she wasn't informed by Barclays - were they not obliged to tell shareholders?

She was informed at the AGM, but she wasn't told by post.

E Singleton from Leicestershire and EJ Parker from Hampshire both ask if you can explain the role of B shares in the reorganisation of Marks and Spencers shares.

Despite being told £2bn would be returned to shareholders Mr Singleton says his holding has decreased in value by £67.

His 869 ordinary shares were turned into 703 plus 869 B shares.

The reason you get B shares is because they're cheaper for the company to give you than cash.

After the reorganisation he had fewer main shares, and some B shares which could be redeemed for cash and they totalled the same amount of money; the share price before and after is virtually identical so you think you've lost shares whereas in reality you haven't.

- Walter G is trying to work out the capital gains on some TSB shares he bought when the company was privatised but he can't remember the issue price or the history of the changes to the share price, if any, from the Lloyds TSB merger.

Where can he find such information?

He's tried Lloyds TSB with little success.

You've either got to make a record yourself or pay someone for that information - he needs to contact an accountant or a stockbroker.

- Peter Brown - again for Capital Gains Tax purposes - asks: "When shares are transferred between husband and wife is the purchase price the initial purchase price when first bought or the value of the shares at transfer?"

It's just deemed to be the original one.

And what about when companies merge, change names or issue two new shares for one old share - is the purchase price the value when the new shares are issued or the value when old shares were bought?

Again, it all goes back to the original purchase; whoever owns them is deemed to have had them right from the outset.

- Richard Taylor uses share certificates to trade and has noticed there's a big difference in charges between companies - £25, £10 or even nothing.

He says he doesn't believe in a free lunch so what's the catch if it's free?

There are different types of trading; the big question is can you deal at the price on the screen?

If you can't you don't know what you're getting so that's why it's cheap.

People don't want to trade in paper any more - it's going out of fashion, it's expensive and some companies will charge it that way because they don't want that type of business.

- Morris Walker wants to know what happens when a company whose shares are in an Isa takes over, or merges with, another company.

The shares of the "new" company taken are simply consumed within your Isa.

However, if the new shares aren't "suitable" (because your Isa could be quite specific in terms of which shares it invests in), they're sold and the cash is reinvested in your Isa.

John Kern wants to know how safe his money is when it is in the nominee account as the shares are held in the name of the stockbroker.

What happens if it merges with another or is bought or taken over by a predator ?

It's as safe as it can be made. It's normally a separate trading company; the nominee is usually totally ring-fenced and safe.

Roger Samuels says he's thinking of selling his Dixons shares but wants to wait for the dividend to be paid. What is his first opportunity to sell without losing that dividend?

It's when it goes ex-dividend. It will be announced at the results - they'll give you warning. But the share price usually drops, so he shouldn't be distracted by ex-dividend status.

Hilary and Ian Townrow want to know what "calls" and "puts" are with regards to options.

A call option is when you call for a stock at a fixed price in the future at a fixed price. A put option is the reverse.

Christine Hirst in Northamptonshire holds some shares in Blacks Leisure but read at the weekend that they have been bought out by JD Sports.

What happens now to her Blacks Leisure shares?.

It'll be a normal corporate action, and new paper will arrive eventually to reflect the holding.

The opinions expressed are Stephen's, not the programme's. The answers are not intended to be definitive and should be used for guidance only. Always seek professional advice for your own particular situation. [an error occurred while processing this directive]