Dissentient Shareholder

fatbob78

Hello,

I've received a letter this week from a company called Key Search Limited who are trying to trace long-lost shareholders of Alliance & Leicester. It appears that I was given 250 free shares when the company floated in 1997 - which I was completely unaware of.

This company says all I have to do to collect the money is fill in a form and return to them. BUT, there is a "small" administration charge of 10% (a not insignificant £150!!) which personally I feel is a bit steep.

Would I be right in thinking that as I am the righful owner of the shares I shouldn't have to pay a fee to be reunited with them?
Can I just write to the A&L Registrar and give them my new address (and I assume some kind of proof of ID), and save myself £150.00

Despite the fact the shares are a pleasant surprise, I'm loath to give up 10% of it, just for someone to be able to track me down - which in this day and age, a chimp (with internet access) could do.

I look forward to any comments.

FatBob

Chadsman

I would certainly write to the registrars first. It *MIGHT* be a company that has trawled the list of shareholders off their own bat for people who have never claimed their divdends and are trying to make a quick buck.
I know of no reason why the registrars would make any charge for reuniting you with your shares. What exactly are Keysearch proposing they will do, present you with a special mahogany framed and goldleaf embroidered certificate???

Bossyboots

I'd be willing to be that if you filled in that same form and sent it straight to the registrars it would all be sorted out free of charge.

steady__eddie

I am presuming Bob that you were a member of A + L when they privatised in the last century ? (doesn't time fly ?) i.e. you are entitled to receive the shares and it was only down to an administrative error that you did not receive your share certificate ?
In cases where a certificate is lost and a replacement is requested, the registrars usually make a charge, don't know whether it varies by registrar but a figure roundabout £30 seems to ring a bell. My failing memory recalls that some paperwork containing the word indemnity ? in the title has to be completed which requires the signature of someone considered to possess a modicum of honesty. Hopefully someone more qualified than myself will be along shortly to fill in the gaps. Hope that this has assisted you.

jonnyb

a quick google for keysearch.com found this, which sounds similar :

http://www.sharepartner.com/default.htm

keysearch limited is part of the capita group plc.

ReportInvestor

Don't pay out to these people.

Try the following first:

Contacts
Alliance & Leicester

E-mail alshareholder@capitaregistrars.com

Address: Shareholder Enquiries
Group Secretariat
Alliance & Leicester
Carlton Park
Narborough
Leicester LE19 0AL


Share Registrars
Alliance & Leicester Share Register
Northern House,
Woodsome Park,
Fenay Bridge,
Huddersfield HD8 0LA

Tel: 0870 607 0414

pgcemadness

hi Bob
I'm in exactly the same position as you. I'm unsure as to whether they have the right person in my case as I do not remember an A&L account, but you never know.

I would be up for writing direct to A&L but notice that in the letter it specifies that Keysearch has been appointed by A&L. So it might be circular and we may end up paying that 10% anyway. However, what I think I'll do is get in touch with A&L direct and give it a shot!

Good luck, hope you get your entitlement.

Susannah

EdInvestor

Asset reunificationand why this is popping up now.

k5jtm

ReportInvestor wrote:

Don't pay out to these people.

Try the following first:

Contacts
Alliance & Leicester

E-mail alshareholder@capitaregistrars.com

Address: Shareholder Enquiries
Group Secretariat
Alliance & Leicester
Carlton Park
Narborough
Leicester LE19 0AL


Share Registrars
Alliance & Leicester Share Register
Northern House,
Woodsome Park,
Fenay Bridge,
Huddersfield HD8 0LA

Tel: 0870 607 0414

Thank you for this information.

k5jtm

thank you for your help.

Shawn2000

I also received one of these letters from KeySearch.
I am going to be contacting A&L today to find out WHY I was not contacted before about these shares that I never knew that I had.

Now, the thing that gets me is that they say these shares have already been sold because I didn't claim them. I got £1560.75 for them (250 shares). To claim that money, as Bob says above, they expect 10% + VAT!
Not only have they been shared, but I have been living at the same address since I left A&L back in 2001. Why have they never contacted me about these shares?
Way back when the company floated, my mother and I went into an A&L branch and asked them if I was entitled to these shares and we were basically told NO. I was not elegible for them for whatever reason. I always knew I should have been because I had held an account with them for the specified period and had the amount of money in that account that should have qualified me.

Today, these shares would be worth £2810 (based on their closed share price of 1124p)

Can they really do this? That is not make any contact with me, tell me I am not elegible for them, and now actually find me at the address they hold on their records to tell me that they have sold them and this is the price I get for them minus this admin fee?
It seems wrong to me.

I am going to give A&L a call today and see if I can get somewhere with this as I feel I have been robbed! They have obvoiusly made an admin error somewhere, and surely if it's their error then they should be the ones to put it right?!

Anyway, it would be good to know what happened with all the others who received this letter, did you claim the money? Did you argue it? Lets hear from you.

Shawn