The Equiniti Scam

alrohaka

Received a letter today from Equiniti, addressed to my grandfather who died in April 1966 with a street address that was correct and the name of my town but the next line of the address was another town, 200 miles away. It was entitled, 'Final Reminder Letter' but it was the first correspondence received at my address, the same address as my grandfather since his death, (house has been in the family for 50 years).


Basically it concerned 100 Aristoc shares that he had purchased, they could not give the date or purchase price as they only deal with the dissenters register.

Aristoc was taken over in June 1966, by Courtalds, when he, should have voted on the takeover. Of course he couldn't because he had died BUT his daughter was at this address and would have dealt with any correspondence. Share price then, if he had taken it, was £4.50. Another takeover in 1998,of Courtalds by Akzo Noble when the 100 shares were converted to 87 shares in that company. I have never come across any share certificate in my grandfathers name.

Over the last 47 years not one letter has reached this address!
Today, a final reminder letter is delivered.

On phoning Equiniti I am informed that all dividend cheques were never cashed and that amounts to £112...... over 47 years that sounds pretty poor. The remainder due to me is for £187 in loan shares? So, £299 for 100 shares bought over 47 years ago and they require, a fee of £79.50 for this to be paid out after I complete a 'small estates form.'

So, does this sound reasonable as the shares in the company in Akzo Nobel are today trading at 46 euros?

Are Equitini holding the shares and going to make a killing?

Should someone, have made more of an effort to find out why dividend cheques were not being cashed, Equiniti told me this, and that correspondence was being returned to them?

It sounds very suspicious to me that this is the very first correspondence ever received because, as of 11/10 this year my entitlement will be paid 'into Court.' Is this a better option?

Feeling pressurised to act and very confused as to what is afoot.

Any thoughts/ suggestions please?

alrohaka

Curioser and curioser!!

Spoke to Equiniti today and found out that they have had all the details since 1963 and this is the first letter from them in 20 years. Requested a transcript of what they had on file, they said it was quite a lot of information, but was told that I would receive a letter.

They have had details of this address for 20 years and only now, just before the deadline of it' going to court' do I actually receive a letter.

Am I being too suspicious that there is something strange going on, has been going on??

clivejo

I am having similar issues. I have asked on numerous occasions now for them to send me the information on why they believe they owe my late father money. They keep saying its due to Friends Provident shares and promise to send the details but nothing!!

Something is not right about it all, why are they making contact now all of a sudden! And why did they hold onto this money at the time!

forestlands

Have received a letter from ProSearch re shares in Lloyds Banking Group. Was with the Halifax for years, since the 1980's and have a mortgage and account with them, plus shares received as a customer when the Halifax went public in 2009. Was getting share dividend payed into my Nat Wast Bank account, this stopped for no apparent reason. I have recently been trying to sort out a large increase in my mortgage payment, with the Halifax, found it very difficult to sort out any matter with my original bank since the take over from Lloyds. Very surprised that so much info. has got lost. It's not rocket science to run an account Halifax is not at all helpful when I phone!

Any one else in same situation, is there anyone dealing with these mismanagement problems such as Trading Standards? Any info. gratefully received, thank you very much!

Vortigern

forestlands wrote: »

Have received a letter from ProSearch re shares in Lloyds Banking Group ...

Halifax didn't "go public" in 2009. HBOS shares were converted to Lloyds shares in January 2009 IIRC. HBOS last paid a dividend in May 2008. LloydsTSB has not paid a dividend since taking over HBOS. I think there was a rights issue for LloydsTSB shareholders sometime after the takeover. If you did not take up your rights, they may have been sold for you. Perhaps that's what ProSearch are trying to tell you.

The other issues with your retail banking belong in a different thread as they have nothing to do with Equiniti or ProSearch.

HelenNumber51

I have had a number of Prosearch letters with deadlines on (all expired by some years now) and been too nervous/idle to act.

I called equinity on 0121 415 7109 (saynoto0870 lookup number). I found an old tax voucher with a reference number on and they looked me up. I was told that I had 2 types of payments owing: unclaimed dividends and cash allotments. The cash allotments were because I did not reply to a letter asking if I wanted shares in the company that bought FP (resolution) so they paid out cash.

I had moved and got married so they probably went to the wrong place.

Fees for my dividends (£100-500 range) is £40. There are about 10 of these.
Cash allotment 1 of ~£350 is £40
Cash allotment 2 of ~£25 is £5.

So, for the price of a recorded letter (to send in marriage cert.) and £85 I get somewhere between £475 and £875 that would otherwise be lost.

Clearly I would rather not have to give them £85 but I need to write this off as the price of sticking one's head in the sand for years.