*Found* Old 1985 Londis (£50) Share Certificates

seftyby

Hi,

If anyone could help me out here it would be much appreciated.

I recently did a clear out of my parents old boxes etc... and came accross 2 x £50 Londis Share Certificates issued in 1985.

I did a bit of research online and found out that these certificates were given to my parents when the shop they owned at the time in Kent became part of the londis group (i think about 2500 shopkeepers got one).

I then found out that in 2004, a deal had been made to sell the Londis Group to the Irish company that owned Budgens (Musgrave), and after some back and forth with the shopkeepers and directors etc... it was agreed that each shopkeeper would receive £30,000 for each of the £50 share certificates!

My parents moved away from the shop in 1990 and so any correspondence with regards to this money etc. would not have made it to them in their new home in Bedfordshire, i don't think they updated their address with Londis.

I guess what i want to know is how do i find out if my parents are still owed this money? as they still hold both the share certificates and have never had any correspondence with regards to this payout!

Any help on the matter would be greatly appreciated!

Thanks,

Nim

fozzeh

Will try have a look tomorrow if I get chance.

http://news.bbc.co.uk/1/hi/business/3663311.stm

Could be a few options of what happened. There may have been a set redemption date and they are now worthless. They could have been sent to a group who try and track people down and will charge a nice fee for finding you out. Could just be sat on a register waiting to be claimed.

ses6jwg

http://www.telegraph.co.uk/finance/2888612/Londis-retailers-back-Musgraves-windfall-takeover.html

pleasedelete

ses6jwg wrote: »

http://www.telegraph.co.uk/finance/2888612/Londis-retailers-back-Musgraves-windfall-takeover.html

Interesting. It says the payout is to each retailer. I wonder if the shares/rights went with the business when they sold it?

fozzeh

Little digging, not much luck. I would give these numbers a bell:

Musgrave Retail Partners GB (Budgens, Londis)
Musgrave House, Widewater Place,
Moorhall Road, Harefield. Middlesex UB9 6NS
Tel +44 (0) 870 0500 158 Fax +44 (0) 870 0500 159

11-29 Booth Drive, Park Farm South
Wellingborough Northamptonshire, NN8 6GR
Tel +44 (0) 1933 400700 Fax +44 (0) 1933 401573

Group HQ
Musgrave Group
Musgrave House
Ballycurreen
Airport Road
Cork
[EMAIL="group@musgrave.ie"]group@musgrave.ie[/EMAIL]
Tel +353 (0) 21 4522100
Fax +353 (0) 21 4522244

HTH.

premierfella

http://www.banburyguardian.co.uk/news/local/windfall_in_store_for_traders_after_buyout_1_599804

A random Google link that states:
"Subject to court approval of the takeover, Londis shareholders will receive the money if they continue their Londis trading accounts.

The 31,000 windfall will be paid in two parts, the first cheque posted on August 9, then another in 12 months' time."

seftyby

Thanks for the info guys,

From the last link, it does seem that my parents may have had to have kept their Londis Trading Accounts active for the payout.

However it couldn't do any harm to contact Musgrave and see what they say.

Cheers.

Lansdowne

I have some old paperwork from the place I worked which had a Londis shop. The first half payments of £15823 were made in August 2004 and the second half in August 2005 "subject to shareholders maintaining their trading account". I would imagine that if your parents passed the Londis shop to new owners, the share rights went with them.