ProSearch & BT shares

kingtrigger

BT shares & ProSearch : I moved house & failed to notify BT. Some 4 years later I recieved a letter with a BT letterhead saying that ProSearch had been instructed to advise me of £200 of unclaimed dividends & that to claim these I need simply fill out the form and return the share certificates.
I did so and almost 2 months later recieved a new share certificate for 18 shares less (from 811 to 793 ?) the following day a letter and cheque arrives for .16 pence ! from Prosearch advising me of £168.89 admin fees, 22.38 indemnity fee & £33.48 vat ......this seems outrageous. I feel tricked & cheated and would welcome any advise as to what steps I should take. the small print on ProSearches initial letter advises of a 12% fee but I have paid 99% and lost 18 shares ??!!
The shares were a wedding gift some years ago....I'm a chef and don't cook books for a living ..help me out here please

Browntoa

looks like prosearch make there money by doing this and have no links with the BT share registrars Equiniti

http://boards.thisismoney.co.uk/tim/threadnonInd.jsp?forum=24&message=306855&thread=85296&start=2&msRange=15

about o2 shares but same scam

Thank you to both of you who replied to my request for help. I phoned Equiniti on 0871 384 2883, and was advised to send my share certificates directly to them, with a covering letter. They did tell me that ProSearch were not in any way affiliated to them, and did searches for people who had not cashed in their shares, and charged a premium for arranging the cashing for them. I was alarmed by the 25p per share premium, which would have meant about £300 going to them and coming off my shares value. I am very grateful to you two, and to Equiniti for the sound advice.

sabretoothtigger

A few companies do this. If you ever get a letter about lost shares then contact the registrar of the company directly also BT will pay direct to a bank account which is cheaper then cheques (reissuing) I think