Friends Provident & Resolution

turbobob

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.

Are you talking about F&C shares? I'm not sure where they come into it. The takeover of Friends Provident was for shares in Resolution.

If you'd had the forms and returned them, you'd now have 0.9 Resolution shares for each Friends Provident share you had before.

If you took the complaint to FOS and if they upheld your complaint (I doubt this sort of complaint would be in their jurisdiction, but anyway..) then the aim of any redress would be to put you in the position you would be in if the "mistake" had not been made. They would not have to put you in the position of having shares in another company.

Sir_Lunchalot

Thanks Tilly - although I'm not sure I did the right thing.

Eileen - Have to say that I think Turbobob's probably right. Even if this falls within the FOS's jurisdiction, what they usually look at is what the 'intermediary' has done wrong. From what you say here, either you didn't get the form to apply for shares instead of cash or you did, but Equiniti say they didn't receive it when you returned it. In either event, unless you have proof that they didn't send it, or more likely proof that they did receive it, but didn't act on it, it'll be hard to prove that they have actually done something wrong.

Best of luck though !