I walk and so does money my money

I walk and so does my money.

Back in the mists of time (about 7 years ago), one of the very large Insurance Company’s had a bright idea of starting up an internet bank. Just how they came upon the name of "EGG" I have no idea.

Millions of small investors, brought their allotted shares. Not too many because the company wanted to save the bulk of the shares for the big institutions.

Now I seem to remember that the shares at the floatation were priced at 1.60 each and small investors could only buy 470 of them, each.

After all of this time, and never having paid a premium the insurance company wants to buy them back. WAIT FOR IT, AT THE PRICE OF £1.18. Not in cash mind you, but in shares, Pru shares.

Now when they were trying to sell EGG back in 2004, they wanted over £2 a share but when it comes to buying it back. Bet you can read my mind.

So far, from rewarding their loyal investors they are taking them to the cleaners. Why am I surprised at such behavior, by now at my time of life I should expect treatment like this?

Carry on the Pru, I hereby swear that you will never see another penny of my money. Egg accounts will be closed, credit card destroyed. All investments in the future will be checked very carefully to ensure that your dirty little hands never touch my money again.

I hope that others will do the same.