Scottish Power/Iberola

whizzing

I had some Scottish Power shares which I got some money for through a Capital Reorganisation in spring of 2006. Then in 2007 Iberola bought them and you either got Iberola shares or money. What I don't know is do I still have any shares in Scottish Power and if so how do I find out how many???

Cardew

No the Scottish Power shares were all compulsory purchased and they are now no longer a listed company.

You should have got money from the sale of SP. You could make an election for:
£7.80 for each SP share.

or

£4 for each SP share and 0.1646 of a new Iberdrola share.(e.g. approx 1 Iberdrola share for every 6 SP shares( plus the £4 of course)

The money was paid in April 2007 and, having elected for the second option,I got Iberdrola share certificates on 04 May.

Incidentally the Iberdrola shares at the time I got them were valued at 37 Euros. They are 42.58 Euros today and were over 44 Euros last week.
This means that the £3.80 invested in Iberdrola has incresed by £1 to £4.80.

whizzing

Thanks Cardew, but did we not get the option last year to get B shares in Scottish Power. They are listed on the stock exchange but I don't think I opted for that last year but can't remember or find the paperwork.

Cardew

Yes we did get the option last year(not for this Iberdrola deal) to get B shares.

The only(normal) reason anyone would take B shares is if they had used up their Capital Gains Tax allowance for tax year 2006/07 and wanted to defer having their shares sold until a later Tax year.

If you have any doubts about holding B shares, ring Lloyds TSB registrars