Friends Provident shares

novice4

As far as I can tell, my Friends Provident shares now seem to be worth about 1/30 ith of what they were worth about five years ago. Is this right? Can anyone advise please.

Old_Slaphead

No - they've gone down a lot but not that much.

The highest FP reached was around 250p now, after Resolutution takeover the equivalent value is around 60p (ie Resolution shares are around 68p but the takeover was 9 Res for 10 FP)

novice4

Thanks for the answer Old Slaphead - but I don't understand. I have just re read my statements. I was given one Resolution share for every 10 Friends provident shares.
I had 311 FP shares in 2006 with an indicated value of £603 . I now have 31 shares with an indicated value of £19.

sabretoothtigger

Wow that would suck but I think FP was bought on reasonable terms. It shouldnt be that different to the value of last year

RSL shares should rise some when they decide what next to buy, pru is a possible depending on how bad they need the money.


Email the company maybe

Old_Slaphead

novice4 wrote: »

Thanks for the answer Old Slaphead - but I don't understand. I have just re read my statements. I was given one Resolution share for every 10 Friends provident shares.
I had 311 FP shares in 2006 with an indicated value of £603 . I now have 31 shares with an indicated value of £19.

I would check that with registrar. The deal was 9 for 10. I had 803 FP now I have 722 Resolution

novice4

I did a search on the internet and found this Q&A page about the demerger which is relevant to the FP shares (this system made me take the link out):

Following the Demerger, Shareholders will hold F&C Shares directly. The number of F&C
Shares each Shareholder will receive will be pro rated to the number of shares in Friends
Provident Group they hold as follows: for every 10 New Ordinary Shares they hold, each
Friends Provident Group Shareholder will receive 1 F&C Share. This does not take into

account the possible application of the Cash-out Procedure.

Im not sure what tha cash out procedure is. I will write to the registrar and check that my apparent drastic loss is correct anyway. Perhaps the cash out procedure is something to do with why you and others got 10 to 9.

sabretoothtigger

f&c is rsl ?

Old_Slaphead

novice4 wrote: »

I did a search on the internet and found this Q&A page about the demerger which is relevant to the FP shares (this system made me take the link out):

Following the Demerger, Shareholders will hold F&C Shares directly. The number of F&C
Shares each Shareholder will receive will be pro rated to the number of shares in Friends
Provident Group they hold as follows: for every 10 New Ordinary Shares they hold, each
Friends Provident Group Shareholder will receive 1 F&C Share. This does not take into

account the possible application of the Cash-out Procedure.

Im not sure what tha cash out procedure is. I will write to the registrar and check that my apparent drastic loss is correct anyway. Perhaps the cash out procedure is something to do with why you and others got 10 to 9.

F & C was demerged from FP before Resolution took FP over.

You got 1 for 10 F&C IN ADDITION to your FP - but, at the time FP shares reduced in value by a commensurate amount.

If say a couple of years ago, you had 1000FP shares, now you would have 100 F&C and 810 Resolution.

Old_Slaphead

sabretoothtigger wrote: »

f&c is rsl ?

No - there's confusion because F&C was demerged from FP bfore RSL took over. F&C is separately quoted

novice4

I was confused. I had believed that the shares went from Friends Provident to Resolution and then to F&C.
From what you say then, I now hold Resolution and F&C shares?.

Thanks for the info.

Old_Slaphead

novice4 wrote: »

I was confused. I had believed that the shares went from Friends Provident to Resolution and then to F&C.
From what you say then, I now hold Resolution and F&C shares?.

Thanks for the info.

Presumably you'll have received share certificates ?