Abbey National/ Banco Santander Shares

CityHunter_3

Can anyone help?

As of the 12th Nov Abbey National Shares were exchanged, on a one-for-one basis, for Banco Santander Shares in the form of Crest Depositary Interests (CDI) tradable on the LSE as of 16th Nov.

I've received a letter from my broker to this effect. They also state that if I were to sell them I will need to complete Form 210, within one month, which is a Spanish tax return providing details of any gain/loss made, otherwise you will be fined (€100). Apparently the Banco Santander website is meant to provide more information on this but I can't find anything. >:(

Does anyone know where this form is?

Is the form as bad as an Inland Revenue Self-assesment?

Thanks in advance.

paul666

I think as long as you don't (didn't) own more than 2000 shares, you should be able to sell them (for free) at any Abbey on the High Street. I suggest you take your certificates to them and get them to help you fill it out - that's what we're intending to do. I'd say morally, they're under an obligation to help us as much as possible.

Of course, if the share certificates are dematerialised or held in a nominee a/c at your brokers this isn't an option.

(See below for a much better answer - I was just going to post a follow-up after going to the abbey site this evening but Derrick has said it much better already!)

derrick

It turns out you cannot sell them at branches,but if you phone Abbey Shareholder Services on 01214157188,they will send you out a postal pack to sell them free of charge.
Do not use the 08705329430 number or the alternative on the "saynoto0870" site as it just rings out but the one above will connect to the same call centre as the 0870 number,have done it myself today

This site takes you to the info,including the 01 number which is actually the overseas number

http://www.aboutabbey.com/home/shareholder_centre/shareholder_centre-questions.htm

CityHunter_3

Thanks for the all the info chaps.

oxter

Got all the papers from Abbey/Banco in the post on Saturday. Question is, as I have 6 months to sell them for free, should I sell now, or will the price go up over the next few months? Any predictions?

derrick

Haven`t got my papers yet,but as Abbey shares are now non existent I can`t see how the can go up.
Teletext,BBC2,page 224, has had them static since last Friday 12th November

oxter

Sorry, maybe I am thick. I thought the Banco shares might rise and I would get more for the sale??

No??

derrick

Only if you opt for the swop of shares,then you get involved in the Spanish tax forms

derrick

It turns out the shares have already been changed into
Banco Santander shares and if you choose to sell will be sold at their rate check here there is also a special dividend of 31p per share payable early December

oxter

It turns out the shares have already been changed into
Banco Santander shares and if you choose to sell will be sold at their rate  check here there is also a special dividend of 31p per share payable early December

Thanks Derrick, esp for the Shareprice reference which I can keep an eye on

critter_2

Asked the following questions regarding Santander shares -I was mainly interested to know if it was best to hold onto these until they're listed over here and possibly avoid the nasty paperwork from the Spanish tax authorities.

Q: I hold Grupo Santander shares, recently converted from certificated Abbey shares.
I have a number of questions.

Is Santander seeking London stock exchange listing next year? If this is correct :

1. Will I be able to buy & sell Santander shares (including the ones I hold) on the open market in the UK?
2. Once London listed, presumably I do not need to complete Spanish Tax form if I subsequently sell my shares?

A: Banco Santander has asked to have its shares listed in the LSEX and expects to obtain it on the first half of 2005. From here on, we expext to have them operating in the same way as any other equity.

Sincerely yours,

Grupo Santander Shareholder Department

Santander House, 100 Ludgate Hill
London EC4M 7NJ

Still not entirely sure whether to hang on until then?
Bit miffed that the paperwork doesn't spell out the options clearly - maybe they want us to sell the shares now and rid themselves of the small shareholders once and for all?