Scottish Power/ Iberdrola shares

packard1984

I got the same responce from Equiniti

so i sent Iberdrola and scottish power a letter:

Equiniti Limited
Aspect House
Spencer Road
Lancing
West Sussex
BN99 6DA

Dear Sir

I owned 252 shares in Scottish Power before the takeover by Iberdrola, I now own 164 Iberdrola CDI's.

Scottish Power shares....
Certificate No ....
Account No ......

Iberdrola .....
Shareholder reference number ......


It is my understanding that at the time of the transfer I should have also received a sum of money in adddition to the share transfer as part of the deal.

According to my calculations this out standing amount should be approximately £.......
My contact and postal details have remained constant throughout the period of the Scottish Power Iberdrola takeover I can see no logical reason why these funds have not been sent to me.

Please take this letter as a formal request for you to release any outstanding monies owed to me as part of the above or any other share deal of which you have knowledge.

I have made the above request to your office by telephone today and have yet to receive a call back or suitable explanation of the situation.

Should you fail to respond or release monies owed to me I will pass this matter on to the regulator for their consideration.


A Copy of my share certificate is enclosed for your information.

I look forward to a prompt response



Ill let you know what responce I get, the whole thing seems like a complete rip-off to me.

poiuytrewq

I've had a similar problem - I forgot to cash my shares within the year allocated, and contacted Equiniti in August. They cashed my cheque for admin costs (11.75) then passed me on to Georgesons. Today I called Equiniti and they say they have no authority to issue Iberdrola's cheques any more and I have to pay Georgesons the 10%+VAT release fee.

Georgeson charge the 10% because they have been set up to find and contact outstanding share payments, and the costs involved. But I contacted Equiniti before that and paid their costs in good faith

Georgeson now say they will wave the 10% as Equinti already cashed the admin fee.

JohnB69

Teresa02 wrote: »

Hi John,

I am in the same position. I rang Equiniti today and they said that a cheque would have been sent to me for the cash entitlement amount about six months ago. The deadline for cashing it has now passed and so they have passed the funds across to Georgeson - who are charging this 10% admin fee. I said I had not received a cheque as far as I am aware, nor any other correspondence about it (though I have received other post from them so it can't be an address problem). They told me they could no longer help me as Georgeson now have the funds. They suggested I have a chat with Georgeson about it. I will be ringing them next.

Teresa

Hi Teresa,
How did you get on with Georgeson?
John

Teresa02

Hi John,

The person I spoke to at Georgeson said they couldn't really do anything for me but suggested I contact Scottish Power direct if there was indeed an administrative error (though I suspect they will refer me back to Equiniti!). The chap did suggest I put a letter in with the claim form and explain the situation. For what it's worth, I have done so and asked that they consider waiving the admin fee.

How about you?

Teresa

JohnB69

Teresa02 wrote: »

Hi John,

The person I spoke to at Georgeson said they couldn't really do anything for me but suggested I contact Scottish Power direct if there was indeed an administrative error (though I suspect they will refer me back to Equiniti!). The chap did suggest I put a letter in with the claim form and explain the situation. For what it's worth, I have done so and asked that they consider waiving the admin fee.

How about you?

Teresa

Hi Teresa,
I phoned Georgeson again about the cut off date but the guy I spoke to said that they had put that in the letter so that people would get their claims in early.
I phoned Scottish power but they basically told me to put it in writing as well.
Have you heard back from them yet?

John

alanfh

I am in the same position. This will be the first payment that has ever gone missing, and that's since the days when they were Hydro Electric! Interestingly, my lodger's payment didn't arrive either. I wonder how many are in the same boat? Surely it is not too much to expect the Registrar to send a follow-up letter before resorting to this?

Has anyone been able to secure their full entitlement yet? I have written to Equiniti.

Alan

black_horse

Don't use Georgeson claim form if your claim is substantial i.e. £200 or more. Just write in to them and demand full payment without deduction of their fee. They are pulling a fast one, really. Iberdrola and their registrars never expected them to charge their shareholders for this (on top of what they've paid Georgeson for this service). Ignore claim form unless you really don't mind the 10% fee.

JohnB69

black_horse wrote: »

Don't use Georgeson claim form if your claim is substantial i.e. £200 or more. Just write in to them and demand full payment without deduction of their fee. They are pulling a fast one, really. Iberdrola and their registrars never expected them to charge their shareholders for this (on top of what they've paid Georgeson for this service). Ignore claim form unless you really don't mind the 10% fee.

Hi black horse,
Have you tried this succesfully?
I've been on to Georgeson twice now as well as Scot Power, Iberdrola etc but none of them are very helpful.
Thanks
John

TintinOut

Hi John & Teresa,
Any progress with Georgeson/Iberdrola?
I was contacted in November by Georgeson to say I was entitled to some money from the Scottish Power (SP) share deal. Unfortunately I certainly hadn't informed SP that I'd changed address which I had done many times. The shares were registered to me at my parent's home but when they moved I failed to inform them of my address.
I don't think I have any choice but to accept that Georgeson will take a share of my money (a not inconsiderable sum) - after all it was my mistake and I'm now entitled to something I didn't think I had.
What do you think? Should I go ahead with Georgeson?
Happy New Year to you all,
Tintin

JohnB69

TintinOut wrote: »

Hi John & Teresa,
Any progress with Georgeson/Iberdrola?
I was contacted in November by Georgeson to say I was entitled to some money from the Scottish Power (SP) share deal. Unfortunately I certainly hadn't informed SP that I'd changed address which I had done many times. The shares were registered to me at my parent's home but when they moved I failed to inform them of my address.
I don't think I have any choice but to accept that Georgeson will take a share of my money (a not inconsiderable sum) - after all it was my mistake and I'm now entitled to something I didn't think I had.
What do you think? Should I go ahead with Georgeson?
Happy New Year to you all,
Tintin

Hi TintinOut,
No progress on my side.
I've yet to find anyone that got the money without having to pay Georgeson.
I fear I may have to bite the bullet and give them a share.
Let me know how you get on!
A Happy New Year to you too.

John