Birmingham City Shares Now worthless

scottc2011

I owned shares in Birmingham City for about 10 years.

Last year they were bought out and taken off the stock market. I received several letters saying that this was likely to happen. I had been out of the country for sometime and when i returned there was a letter stating that the company had been purchased and i needed to send in my share cetificate and the signed formed to be able to receive payment for my shares.

I filled out the forms and sent it with my share cetificate to Capita Registars. About 3 months later i received the share certificate back and letter saying that it was received too late.

I telephoned Capita and was informed that because it was not sent back within the specified time limit my shares were now worthless. I was given the address of the Hong Kong company to contact for more information. I have sent several letters to this company but have not received any reply.

Can anybody advise on the best course of action to try and get payment for these shares that i own?

Many thanks

Scott

fathippy

The shares dont become worthless on any timescale. The acquiring company must compulsoraly buy any amount under 10% after they go through the 90% mark.

I suspect Capita dont know what they are talking about. Registrars seem to employ phone jockeys who know nothing about what they are meant to advise on. It is also likely that the hong kong address they gave you is a registered address or a mailing address so no-one will necessarily know what you are writing about.

I suggest you find the investment bank who dealt with the original offer - this should be on your original offer correspondence - but a quick check on lse gives the following :

BDO Stoy Hayward Corporate Finance (Financial Adviser to Grandtop)


Alex White Tel: +44 (0) 20 7893 3989
John Stephan Tel: +44 (0) 20 7893 3989


They should be able to sort out any problems smoothly.

fibreg

Hi,

I am still trying to get this sorted out. I got the information from the Financial advisor for Grantop and then sent another letter to Grantop in the Cayman Islands and got a response from a solicitor from Birmingham (Shoosmiths) acting on behalf of Birmingham city.

He stated that "i can confirm that your shareholding remains and we are keeping a list of shareholders that missed out on the takeover for one reason or another. The club is currently considering what to do in terms of these shareholders. As soon as the club has made a decision either the club or ourselves will be in contact".

I responded stating that it has been over a year since the takeover and i am concerned that a 'decision' has not yet been made. All of this corrospondance was in February 2011 and i did not receive a response from the solicitor so have just chased him today and he told me the following:

No decision has been made and will not be for the foreseeable future!

This does not seem right to me but i am lost for the best way to proceed to realise the value of my shares (surely they cannot leave people up in the air like this)?

I am contemplating simply issuing proceedings against Birmingham City PLC for the value of the shares when they were taken over. It will cost me £80.00 to issue the proceedings and i am merely looking to get the value of the shares, which at the purchase price would be £1587.00. Surely for this value it would get their attention?

Does anybody have any better ideas how best to deal with this situation because i am currently just going round in circles?

Thanks

Scott

STEVEMC

hi ive got a similar issues i contacted the solicitor dealing with
share purchase who told me they couldnt deal with matter as past
a certain date ive got 750 shares i wish to sell.

i still get the financial reports so i must still be classed as a share holder


did you get anywhere with your sale ?

nikworton

Hi
Anyone let me know any feed back you get - I have 1111 shares bought back in 1997... would they be worth anything now? Since moving a few times over the years lost all shareholder info & yearly updates... so are the shares considered still valuable?