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Capita Tracing Solutions - share payment due
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cottager
Posts: 934 Forumite
A letter has turned up out of the blue, and it seems I'm owed a small amount of money 
It's from Capita Tracing Solutions about a tiny number of shares (50 only) which I held some years ago. The letter says:
We are writing to you in connection with an unclaimed cash amount in your name. According to our records you have an unclaimed amount due to you set out below. The cash entitlement is from the take over of Celltech Group plc by USB S.A. in 2004. During this time you would have been contacted by USB S.A. about this matter.
It seems they're right, as after a search I've now unearthed paperwork which apparently I took no action over. How did that happen? -- not like me not to overlook money I'm entitled to!!!
In the T&C:
Who and what is the Shareholder Capita Tracing Solutions Programme?
The Capita Tracing Solutions Limited ("Capita Tracing Solutions") service is a voluntary programme designed to reunite you with assets held on your behalf by a company ("Company") in which you are or were a shareholder. If you decide not to participate in the programme you may contact the Company's registrar directly.
There's a claim form to complete which I return with the share certificate, they'll check ID, and I should get the payment within 30 days. In return for this I pay them an administration fee of 15% plus VAT. The amount involved is small, £275.95, and by my reckoning the fee would be £47.60 incl. 15% VAT.
AFIK the registrar is Capita, and the tracing company is an arm of theirs.
My question is about the alternative mentioned above:
If you decide not to participate in the programme you may contact the Company's registrar directly.
If I approached the registrar directly, would I avoid (or reduce) the fee? -- if there's little difference either way I may as well go ahead and return the form... but paying no fee would be better
It's from Capita Tracing Solutions about a tiny number of shares (50 only) which I held some years ago. The letter says:
We are writing to you in connection with an unclaimed cash amount in your name. According to our records you have an unclaimed amount due to you set out below. The cash entitlement is from the take over of Celltech Group plc by USB S.A. in 2004. During this time you would have been contacted by USB S.A. about this matter.
It seems they're right, as after a search I've now unearthed paperwork which apparently I took no action over. How did that happen? -- not like me not to overlook money I'm entitled to!!!
In the T&C:
Who and what is the Shareholder Capita Tracing Solutions Programme?
The Capita Tracing Solutions Limited ("Capita Tracing Solutions") service is a voluntary programme designed to reunite you with assets held on your behalf by a company ("Company") in which you are or were a shareholder. If you decide not to participate in the programme you may contact the Company's registrar directly.
There's a claim form to complete which I return with the share certificate, they'll check ID, and I should get the payment within 30 days. In return for this I pay them an administration fee of 15% plus VAT. The amount involved is small, £275.95, and by my reckoning the fee would be £47.60 incl. 15% VAT.
AFIK the registrar is Capita, and the tracing company is an arm of theirs.
My question is about the alternative mentioned above:
If you decide not to participate in the programme you may contact the Company's registrar directly.
If I approached the registrar directly, would I avoid (or reduce) the fee? -- if there's little difference either way I may as well go ahead and return the form... but paying no fee would be better
~cottager
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Comments
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A letter has turned up out of the blue, and it seems I'm owed a small amount of money
It's from Capita Tracing Solutions about a tiny number of shares (50 only) which I held some years ago. The letter says:
We are writing to you in connection with an unclaimed cash amount in your name. According to our records you have an unclaimed amount due to you set out below. The cash entitlement is from the take over of Celltech Group plc by USB S.A. in 2004. During this time you would have been contacted by USB S.A. about this matter.
It seems they're right, as after a search I've now unearthed paperwork which apparently I took no action over. How did that happen? -- not like me not to overlook money I'm entitled to!!!
In the T&C:
Who and what is the Shareholder Capita Tracing Solutions Programme?
The Capita Tracing Solutions Limited ("Capita Tracing Solutions") service is a voluntary programme designed to reunite you with assets held on your behalf by a company ("Company") in which you are or were a shareholder. If you decide not to participate in the programme you may contact the Company's registrar directly.
There's a claim form to complete which I return with the share certificate, they'll check ID, and I should get the payment within 30 days. In return for this I pay them an administration fee of 15% plus VAT. The amount involved is small, £275.95, and by my reckoning the fee would be £47.60 incl. 15% VAT.
AFIK the registrar is Capita, and the tracing company is an arm of theirs.
My question is about the alternative mentioned above:
If you decide not to participate in the programme you may contact the Company's registrar directly.
If I approached the registrar directly, would I avoid (or reduce) the fee? -- if there's little difference either way I may as well go ahead and return the form... but paying no fee would be better
I think you would be better off going to the register direct, probably will have to pay a fee, but I bet it will be cheaper than dealing with a "claims" company."When the Government borrows, the citizen has to save".
Machiavellii0 -
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If I approached the registrar directly, would I avoid (or reduce) the fee? -- if there's little difference either way I may as well go ahead and return the form... but paying no fee would be better!
The best option is to call and find out.
I believe 'Capita Tracing Solutions' usually work on a commission basis, so they will take a percentage of your payment as a fee. If the registrar charges a fixed sum (e.g. £15) to send a cheque for the full amount, then just do the math!
(It's normally cheaper to contact the registrar directly; Capita make money because a lot of people just can't be bothered.)
Good luck! For the avoidance of doubt: I work for an IFA.0 -
Definitely cheaper and quicker to contact registrar direct - I have done it.0
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There we are then... will do.
My thanks to all ~cottager0 -
Only to update with a happy end to the story...
I claimed directly to the registrar as recommended here, instead of using the tracing company which had approached me. (In fairness, their literature pointed out I could go through the registrar, but my question to MSE was whether this also involved a fee.)
The cheque arrived today.
It wasn't just cheaper, it was actually FREE going down this route! -- the full price for the 50 shares and even a tiny amount of interest on top.
So glad I asked here, and my thanks again for the tip :T~cottager0 -
Hi there
I have the same letter from Capita. I would like to contact the registrar directly. Who, what number should I call pls
Tls0 -
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Ah, I didn't know they were at Huddersfield so didn't write there, but to Beckenham which is where the cheque seems to have been sent from too. Maybe they moved...
I'd looked them up on the website
http://www.capitaregistrars.com/shareholders/contact/
gave them a call (first number at the top I think) to enquire, ask what I had to do and check it was there I should write to... they said it was.
Tweedy, they told me I should include in the letter that I 'accept the terms of the offer' but if you ring they will check you're on the database and explain what's necessary. I sent the share certificate and letter RD. Took exactly a month for the cheque to come, but the Christmas/NY break was in the middle of that.~cottager0
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