issuing extra, free shares to existing shareholders in proportion to their holdings; for instance one new share for every share held. Although there are technical reasons for doing this, the main motive is to reduce the market share price. The problem here is that if a company is very successful and its share price shoots up to reflect this (perhaps to 380p each), sharebuyers are put off by a price that looks expensive. A one-for-one scrip issue would double the number of shares in circulation and therefore should halve the value of each share. At 190p each the shares appear to be priced more reasonably, which may make them more attractive.