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Shares in a company

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Hi i worked for a company for 2 years from 2007-2009 and received 47 shares whilst employed there , at £6.06 each.when i left i simu forgot about them .. I was sorting a drawer out and come across paper work .. I rang my old company to be told you should have received the value of the shares on my last pay., but to ring head office to check . On ringing head was i was apologised to and said cheque will be in the post . The shares today approx £9 but have only payed £5.27 saying that was the price they were worth when i left . Minus tax and NI . Can they do this ??? Advice much appreciated Seeing as this was their error

Comments

  • atush
    atush Posts: 18,731 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    No,they can't do this. Unless they also pay you lost interest and the dividends. They can't have their cake and eat it too. If they want to go back, they have to pay interest.


    They made the mistake, not you. Complain in writing.
  • valerieh
    valerieh Posts: 28 Forumite
    Ninth Anniversary 10 Posts Combo Breaker
    Thanks for that i shall ring monday and give him the benefit of the doubt then complain x
  • jimjames
    jimjames Posts: 18,657 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    It is possible that the amount sent is correct for the sale price IF the shares were sold when you left the company and the error was not passing the money on to you.

    If that is the case then as atush says you should get interest on that amount although on £250 the interest won't be enough to splash out on very much.
    Remember the saying: if it looks too good to be true it almost certainly is.
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