Claiming Halifax (HBOS) Shares

magan

Searching for something else, we just came to find out that it is quite likely that DH was entitled to some Halifax shares (from when Leeds became part of Halifax) on the time, he called to enquire about it, but they told him he wasn't entitled (now it seems that he could be). I am trying to find out who the registrar might be to give them a phone call. Any one has any idea? I hope we are not too late for claiming the entitlement (this has been really long time ago).

opinions4u

Equiniti Limited
Aspect House
Spencer Road
Lancing
West Sussex
BN99 6DA

Tel: 0871 384 2990

I have a sneaky feeling that after August 2010 any unclaimed entitlement was lost ... but I might be wrong.

If it isn't lost, the good news is that the shares were sold and converted to cash at a value of £8.74 each .... if the shares hadn't been sold and gone on to become part of Lloyds Banking stock then they'd be worth about 38p each today.

sabretoothtigger

any unclaimed entitlement was lost

I dont think the shares can expire. If the Hbos went broke maybe but otherwise they owe the money


Did he have an account with over 100 with leeds

Thrugelmir

opinions4u wrote: »

Equiniti Limited
Aspect House
Spencer Road
Lancing
West Sussex
BN99 6DA

Not sure that Lloyds registrars will hold the required information. As the merger was 1995 and all unclaimed shares were sold into the market in 2001. Around 132,000 people never bothered to claim. HBOS shareholders were then issued shares in the combined Lloyds group.

magan

I can't remember how much was in (we still have to check ). And it is not even that we "didn't bothered" claiming, it was that on that time DH called them and they said that only customers with a bank balance over £2000 were entitled, now "200 years later" we find out that it seems that ALL the customers were entitled and even those ones with balance over £1000 at the time of the merger got extra shares. How can they misguide their own customers and then say that over 100,000 never bothered claiming?? I believe the money must be somewhere although it might take hard work to claim it (but if you are entitled to it, it should be still yours isn't it??)

Thrugelmir

Some information for you.

Halifax Unclaimed Shares from Demutualisation


Halifax Building Society converted from member ownership to a stock company - a process called demutualisation - in June 1997. Qualifying Members were entitled to receive shares in Halifax plc, as a consequence of this demutualisation. To be eligible to make a claim, you must have had a mortgage or savings account continuously between 24th November 1994 and June 1997.
After demutualisation in 1997, savers or mortgage holders had three years to claim their shares. The shares were sold in 2001 for £8.34. Some 75,000 former members have until August 2010 to claim their share of the proceeds of sale - £158m cash - which is paid without interest, but does include associated dividends and other related payments.

After August 2010, Halifax has said it will retain the cash, although the House of Commons recently proposed that some portion of the £600m in benefits that have gone unclaimed by dormant building society members in the future go to a Central Reclaim Fund for disbursement to good causes.

The Leeds and Halifax merged in 1995 so there would be no shares issued then.

opinions4u

magan wrote: »

I can't remember how much was in (we still have to check ). And it is not even that we "didn't bothered" claiming, it was that on that time DH called them and they said that only customers with a bank balance over £2000 were entitled, now "200 years later" we find out that it seems that ALL the customers were entitled and even those ones with balance over £1000 at the time of the merger got extra shares. How can they misguide their own customers and then say that over 100,000 never bothered claiming??

You know what. I don't believe him. At best he's misunderstood. In the highly unlikely event that he was misinformed, there were numerous other communications made explaining what was happening.

If my memory serves me correctly, those with balances between £100 and £2000 got a basic allocation of 200 shares. Those in excess of £2,000 received an additional allocation, capped at £50,000 balances.

Letters were posted to all members, including non-qualifying ones, explaining the criteria involved. Call centre teams sticking to very clear scripts were operated and the £100 savings balance / key holding dates to qualify for shares was absolutely not in doubt in the minds of anybody working for Leeds PBS or Halifax - especially those in branches. The press ran repeated articles for over 2 years reminding people not to drop below a £100 balance.

As for the 100,000 non-claimers, the reality is that many of these people were actually dead. It's just that nobody had ever reported the death to the building society because families / executors didn't know the accounts existed.

I believe the money must be somewhere although it might take hard work to claim it (but if you are entitled to it, it should be still yours isn't it??)

Ring the number I gave above and work back from there.

Thrugelmir wrote: »

Not sure that Lloyds registrars will hold the required information. As the merger was 1995 and all unclaimed shares were sold into the market in 2001. Around 132,000 people never bothered to claim. HBOS shareholders were then issued shares in the combined Lloyds group.

Lloyds Banking Group are responsible for maintaining all historical records of the HBOS share register.