Ask Colin

I recently bought some shares. With them came some Reset Preference Shares that expire in a couple of weeks. What happens if I hold them past the expiry date?

This sort of problem is what a broker is there for. You should contact your broker and seek the advice you need.

If you only have a discount broker, you may have to do your own research and will have to make you own decision or seek advice elsewhere. Look on the company's web site (find it on www.asx.com.au). If that fails, phone the company and ask to speak to the investor relations person. Remember they can tell you the facts, but cannot advise you what to do. You need a broker or licensed financial adviser for that.

By the way, you have broken a golden rule of investing - Warren Buffett put it this way - never invest in anything you don't understand.

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