Friends Provident & Resolution

Fat_Freddies_Cat

I have had no consultation, no shares and no cheque.
I have just emailed Resolution explaining that "Where I come from, if somebody takes my property without my permission or forces a sale without payment, this is called theft." and asked them to explain the situation.
This appears to be another case of a large corporation doing what it likes, any way it likes, and we are powerless to do anything about it. We can shout all we like, but whatever the outcome, we are unlikely to get any result which adequately recompenses us for the time trouble, expense and aggravation that is expended in obtaining that result.
I am not paranoid, they ARE out to get us 8-(

catz1ct

I seriously doubt you will get anywhere with it because this sort of take over has happened many times. Its quite normal.

Tilly123_2

spacem wrote: »

Spoke to a few people yesterday and basically the message I got was "if you had under 2500 shares you got cash, sorry if the paperwork never reached you/got lost in the post/equiniti/resolution/friends provident screwed up, but basically there were over 700,000+ shareholders and if a few didn't get what they wanted: tough - there is no possible way to turn the cheque into shares directly".

Computershare were quite helpful, saying I could open an account and buy shares if I wanted to. I got as far as signing up for Computershare but it wants a Shareholder Reference Number, which I don't have, because I'm not a shareholder in Resolution yet.

:j

I too am not happy with FP/Equiniti. I received the election forms and returned them as I wanted to retain my shares - and to my surprise I received 2 cheques for my shares!!! Equiniti say they never received my paperwork - very convenient for them!!!! - especially as it seems nothing can be done about this - I have been told to put my issues in writing - but I can't see it making any difference. I would not opt to cash in shares that in the present market are not worth a great deal - I feel that I and everyone else has been diddled by Equinit - and the result is - tough !!!!!!!

Sir_Lunchalot

Not sure I understand why some people have a problem here - we, as shareholders, voted for the Resolution offer - I didn't as it happens but a majority did - and we had to elect to get shares rather than cash. It all worked smoothly for me, although in hindsight I think I probably made the wrong decision. I always send election forms by Recorded Delivery as that way I am sure they will arrive - or the Post Office will compensate me (!) Can't see how anyone is being 'diddled' by anyone though.

dunstonh

julianrutherford wrote: »

Hi All, I have just spoken to Jason at the Financial Ombudsman Service who says that once the complaints procedure of Equinity has been completed and there is no satisfactory resolution then we can complain to the ombudsman service as the complaint will be about the buying and selling of the shares i.e. they have sold them for us without our permission, rather than the administration of the shares themselves (the registrars actions). Hope this helps!
[FONT=&quot]Julian [/FONT]

The FOS telephone staff though are fairly low skilled and always tell you what you want to hear. i.e. we will be happy to look at it once you are deadlocked with the company you are complaining about. That doesnt mean you have any hope of success. Thats just the standard response. You get that on cases even when you havent got a hope in hell of success. Indeed, the only time you tend to find they put you off is when they know its outside of their jurisdiction.

However, if you really want to be put back in the position you were as if you had the shares switched over, then buy the correct number of shares and donate the difference to charity (as the share price is currently lower - as mentioned above - making you financially better off).

Tilly123_2

Sir Lunchalot - Lucky you that you made the decision you wanted to and therefore got the result you wanted.

EileenH

I'm still waiting for a reply to my 2nd letter to Equiniti before I contact the Financial Ombudsman. I mentioned above on 28th November that Equiniti replied to my letter of complaint to say that there was nothing more they could do. I looked at the option of buying more F&C shares to the value of the cheque I received for my FP shares but there is a minimum £15 dealing charge which I'm not happy to pay. I've asked Equiniti if they will compensate me by waiving this charge if I buy more shares and advised that if they couldn't do this or come up with a more favourable option then my next course of action was to contact the Ombudsman Service.

dunstonh

I looked at the option of buying more F&C shares to the value of the cheque I received for my FP shares but there is a minimum £15 dealing charge which I'm not happy to pay.

Even though you are more than £15 better off?

What is your proposal to the FOS to rectify the situation? It sounds like you want to pay more to be put back in the position you were rather than being better off as you currently are.

EileenH

dunstonh wrote: »

Even though you are more than £15 better off?

What is your proposal to the FOS to rectify the situation? It sounds like you want to pay more to be put back in the position you were rather than being better off as you currently are.

How can you know that I will be more than £15 better off, you don't know how many shares I have? The share price is now 3.5p less than when mine were sold but I will still be worse off if I buy more shares after paying the £15 dealing fee.

dunstonh

EileenH wrote: »

How can you know that I will be more than £15 better off, you don't know how many shares I have? The share price is now 3.5p less than when mine were sold but I will still be worse off if I buy more shares after paying the £15 dealing fee.

I dont know. However, if you are worse off then its going to be less than £15. If you take the average holding you are going to be better off.

Doesnt there come a point where it just becomes a total waste of time for all involved?