Scottish Power/ Iberdrola shares

LuckyPete

I have been following this thread for some time since I received a letter from Georgeson asking for money before they would give me the money I was due.

I took the advice of black horse and sent a letter to Georgeson pointing out that I had lived at my current address for 23 years and had never been sent any information on the money I was owed. I requested them to send me my money without deducting any administration fee. After about four weeks, just before the new year I received a cheque for the full amount without any quibble or fuss.

My advice would be to write and request your money in full.

JohnB69

LuckyPete wrote: »

I have been following this thread for some time since I received a letter from Georgeson asking for money before they would give me the money I was due.

I took the advice of black horse and sent a letter to Georgeson pointing out that I had lived at my current address for 23 years and had never been sent any information on the money I was owed. I requested them to send me my money without deducting any administration fee. After about four weeks, just before the new year I received a cheque for the full amount without any quibble or fuss.

My advice would be to write and request your money in full.

Thanks for that LuckyPete, I'll give it a try as well!

nufc1961

LuckyPete wrote: »

I have been following this thread for some time since I received a letter from Georgeson asking for money before they would give me the money I was due.

I took the advice of black horse and sent a letter to Georgeson pointing out that I had lived at my current address for 23 years and had never been sent any information on the money I was owed. I requested them to send me my money without deducting any administration fee. After about four weeks, just before the new year I received a cheque for the full amount without any quibble or fuss.

My advice would be to write and request your money in full.

I'm trying this too. I composed a letter, but thought I'd email it as well as posting. I received a fairly quick response to my email (quick enough to enable me to amend the address on the letter).

The reply was as follows:

"Thank you for your recent e-mail to this office relating to our communication regarding the acquisition of Scottish Power plc by Iberdrola SA.

The service this department provides is totally voluntary and you are completely at liberty to choose to claim your entitlement via any other method that you deem appropriate.

In order for you claim your entitlement without the Georgeson Research Team administration fee you are required to contact the following address, providing your full name, account number and any proof of changed name or address should either differ from that which is noted on the actual Scottish Power share holding.

Georgeson Dissenters Department
P.O. BOX 82
The Pavilions
Bridgwater Road
Bristol
BS99 7NH
United Kingdom

Once the above information is received at this address their records will be updated - if required - and a cheque sent out to you."

I don't know what was meant by 'any other method you deem appropriate' as like other posters I could not find any other way. However, it does appear that they will issue payment without admin fee if that is what is requested.

JohnB69

Hi All,
I wrote to Georgeson explaining that I had never been informed of any money that I was due and that I had contacted Scot Power, Iberdrola etc and that they had no record of ever telling me about the money.

I got my cheque in for the full amount last week.

If anyone is still due money then I suggest you do likewise. Don't pay them a penny, they're just trying it on.

Thanks to everyone for your advice. Much appreciated.

John

elyrch

Have all of you who have successfully claimed your full entitlement, without deduction of the admin fee, been resident at the same address continuously? We moved from our previous address in Spring 2002, and although I believe I informed Scottish Power of my change of address (I have continued to receive payments of dividends by electronic transfer from Scottish Power and then Iberdrola), I cannot prove it. Are Georgeson entitled to deduct their admin fee if you cannot prove that you informed Scottish Power or your change of address?

kaztiger

I have 88 Iberdrola shares, how do I find out if I'm entitled to money? I don't remember getting sent any money by Equiniti. Do I have to contact Georgeson? They haven' contacted me so does that mean I'm not due anything?

balzacfan

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 all,

I am in the same position as Tintin but I have another question. Georgeson has informed me that my shares were "compulsorily purchased" as a result of the Iberdrola takeover in April 2007. However, they say that my cash entitlement is £584.81 for 146 shares, which seems quite low as I believe (from reading threads in this forum) that the entitlement was £4 per share + a certain percentage of Iberdrola shares? Does this mean I also have Iberdrola shares and how would I find out? Many thanks for any advice.

balzacfan

Following on from the above post, I contacted Equiniti:
Equiniti
Aspect House
Spencer Road
Lancing
West Sussex
BN99 6DA
Tel: 0871 384 2030


and explained the situation. I told them of the discrepancies and that I believed I may have Iberdrola shares. They were able to use my old address (I didn't have a valid reference number) to check this and confirmed I have 96 Iberdrola shares.

I am now awaiting a call back from their Admin Dept. to see how to go about updating my details. I'll keep you posted.

I thought it important to advise others that they may have, in addition to the cash entitlement from the sale of their Scottish Power shares, IBERDROLA SHARES.

Staffa

:(What's the latest position re Iberdrola CDIs ? I'm working on finalising my parents' estates which included Scottish Power shares subsequently replaced by CDIs - a total of 304 (200+104). Unfortunately due to family illness and pressures sorting out the estate has drifted a long time.

We've not seen any investment income from their holdings and understand that they are not marketable securities and that we are subject to Spanish taxes.

We are retaining and distributing the marketable securities held by the estates, but what about Iberdrola? I can't find any market analysis on Iberdrola CDIs. Is there any reason to retain them and if not what's the best way now to realise their value? Preferably without paying Georgeson 10% or whatever.

Best wishes and thanks in anticipation.