Tesco Save As You Earn Maturity Instruction Form Not Received

Rooster-russ

Help...

I have recently received a cheque out of the blue from Equiniti (the company that deal with the Tesco save as you earn share scheme).

My idea was to leave the shares in the scheme until the share price reached a nice amount and sell them, that was the idea any way. Instead they have sent me a cheque for the amount I saved (£3000.00) as 'they say' they never received confirmation of the '5 year maturity instruction form' I sent to them giving my option to 'use my savings to buy Tesco shares to keep'.

I received the cheque yesterday for £3000. If I had sold them as shares yesterday I would have made £6000, great.

Anyone know of anything I can do about this ????

Thanks

opinions4u

You really should have followed it up in the weeks after sending the form off and hearing nothing.

Complain, say you sent the form and insist that they launch a search.

I think your chances of success are less than 1% though.

uzubairu

I too had a 5 year scheme mature, and I opted to buy shares and sell them straight away.
I received notification of the purchase of the shares on Friday (04/02) and I received a cheque for the proceeds of the sale today *05/02).
I also had a 3 year one maturing at the same time and instructed them to issue me with shares to keep (option price is higher that current share price) and I haven't heard from them about those shares.

I completed my maturity instructions online and printed off a confirmation for my records.
I didn't want to risk posting anything, because the bad weather in December really messed up the postal system for ages.

I thought you had several months to make up your mind what you do with the money you have saved.
Definitely look into it and make a complaint.
It will be such a shame if they can't fix it for you.

Good luck.