Standard Life Allocation

The Ticker for Standard Life will be SLET

DocProc wrote:

"Retail applications were allocated in full up to £1,000, and amounts above this were scaled back to allocate 33% of the value applied for, subject to a maximum allocation of £25,000, rounded down to the nearest share."

£1,500 x 33% = £495

£495 divided by £2.30 = 215.217 shares

Rounded down, this equals 215 shares.

215 x £2.30 = £494.5

You should get a refund cheque to the value of £1,005.50 with a certificate(?) for the 215 shares.

No this is wrong I'm afraid (although the news is better in fact): As reported they are giving anyone who applied for £1000, £1500 and £2000 worth of shares what they asked for. Anyone applying for additional amounts will be allocated 70 percent of these - on top of the first £2000 that is. No one who has applied for more shares than another person will receive less than that other person as a result - they will either receive slightly more or - at worst - nothing more.

http://news.scotsman.com/scotland.cfm?id=996262006

"Those who applied for up to £2,000 worth of preferential shares - those being offered at a 5 per cent discount - will receive their allocation in full. Above this level applicants will receive between 71* per cent and 94** per cent of what they applied for."

*Applying for the maximum allowed of £50,000: You'd get £2,000 plus 70 percent of £48,000. That is £35,600 or 71.2 percent applied for.

**Applying for the next amount above £2000 (because multiples of £500 were required), that is £2,500: You'd get £2,000 plus 70 percent of £500. That is £2350 or 94 percent applied for.

shazkhan,

You will be getting your £1,500 therefore.

Sorry for not reading your post carefully enough DocProc.

However if what RI is saying is correct the OP should still get more than £1000 worth (£1167 ?)