Allocation of Halifax shares in 1997

meganofcambridge

I received shares in the Halifax demutualisation in 1997, some from a savings account of my own, and some from two accounts that were my childrens. Can anyone remember how the shares were allocated, I know I received a fixed number for each of the childrens accounts but can't remember how many? I now want to sell the shares and divide the proceeds between us.

apt

Don't count on getting rich, but at least they are worth slightly more than Northern Rock and Bradford and Bingley shares. https://forums.moneysavingexpert.com/discussion/3731331

Mirno

The shares were allocated based on the amount you had in savings (or if you had other products like mortgages).
You needed to be over 16 in 1996, and have at least £500 in savings - in which case you would receive a minimum of 200 shares (at the time worth around £7 per share). I don't know how much you needed to get more than the 200 shares though.

I know this, because I was 16 years old and had £550 in my account at the time. My younger brother had enough money but was too young, my older sister had spent her money.

If you did nothing with the shares since, they'll have been converted to Lloyds shares, they ended up being held by Equiniti.

Mirno

jimjames

So based on the link the minimum allocation of 200 shares would now be 120 Lloyds shares (based on for every Halifax share you got 0.602 LBG shares.)

120 shares at current price of 78p is £93

Unfortunately it shows the dangers of holding single company shares. Makes me glad I sold my 200 allocation in 1997 for £1500 and put it into funds.

You may find you have more than 200 shares now if the dividends were reinvested rather than paid out but sadly it will still be a tiny fraction of the previous price. You're lucky it wasnt B&B or Northern Rock as you still have £93 more than those shareholders would have.

opinions4u

They issued 200 shares minimum per individual. An adult holding an account on behalf of several individuals was seen as one person. Additional shares were added if combined balances for that person were over £1,000.

But there have been buy backs (I remember 200 shares becoming 185), mergers (HBOS was formed, although I don't recall a shareholding impact) and takeovers (Lloyds TSB bought HBOS to form LBG) since then.

My best guess is that you will have around 110 LBG shares worth just under 80p each. So less than £100.

gadgetmind

Wow, that's a blast from the past!

We did rather well out of these as I managed to get max and my wife got a few too. ISTR we cleared £12k when we flogged them after a few weeks.

Linton

gadgetmind wrote: »

Wow, that's a blast from the past!

We did rather well out of these as I managed to get max and my wife got a few too. ISTR we cleared £12k when we flogged them after a few weeks.

Mrs L's got converted to Lloyds. They have shown a 66% return in the past 12 months - my 2nd best performing investment in that period!