BP plc Shareholders offer

barak

Unless I'm missing something, the Terms for the Free Dealing Offer in the email received yesterday are not the same as those in the letters sent out last week.

Letter -
Free Dealing Offer
"If you wish to buy up to 500 BP p.l.c. ordinary shares, you can do so without any dealing costs".

Email -
"If you hold up to 500 BP p.l.c. ordinary shares you may buy up to 500 additional shares without any dealing costs".

C_Mababejive

I wonder how that plays for people who hold in a nominee account..

barak

C_Mababejive wrote: »

I wonder how that plays for people who hold in a nominee account..

I think that would depend on who is running your nominee account. They could give you the facility, but I suspect some may not be prepared to simply because of the time and trouble it would take.

blinko

so it is purely no dealing charges, this is at best £6 saving and doe that include no stamp duty calculating 480p x 500 = 2,400 stamp at 0.5% = £12

Total possible saving £6+£12 = £18 (what about selling costs?) I assume these aren't included if they are £24 max savings

jimjames

barak wrote: »

Unless I'm missing something, the Terms for the Free Dealing Offer in the email received yesterday are not the same as those in the letters sent out last week.

Letter -
Free Dealing Offer
"If you wish to buy up to 500 BP p.l.c. ordinary shares, you can do so without any dealing costs".

Email -
"If you hold up to 500 BP p.l.c. ordinary shares you may buy up to 500 additional shares without any dealing costs".

Which bit are you saying is not the same? The fact that the letter could mean that someone with more than 500 shares is eligible to buy another 500 at no dealing cost?

barak

It's certainly nothing to get excited about! You have to subscribe cash rather asking for a number of shares and you won't get any change, so you could lose over £4 as a fraction of a share which will go to charity!

barak

jimjames wrote: »

Which bit are you saying is not the same? The fact that the letter could mean that someone with more than 500 shares is eligible to buy another 500 at no dealing cost?

Precisely! The letter can only be understood to say that.

This appears to be another foul-up by a registrar. If I had a pound for every time this sort of thing has happened to me over the last few decades, I'd be ..... well ..... slightly wealthier!

I wonder what Capita will do, because the only proper solution for them is to re-mail all BP shareholders and anybody who has already.applied for up to 500 new shares will have a case for a commission free deal.