Trustee Savings Bank shares query

Steve_xx

When the TSB floated years ago I remember that I got an allocation of shares simply because I had a shilling in an old account from about 1968!
I mentioned this to my friend just now and he has shown me an old passbook of his that showed he had £39 in his account opened in the 1960's until he closed it in 1994. I believe he would have similarly been entitled to an allocation of shares just like I was.
The question is, is there any way he can get them now?

alanq

I don't know how similar this is to building society demutualisations. With them one needed £100 deposited and had a number of years to claim the shares after which one had up to 12 years in total to claim the proceeds. Trustee Savings Bank floated in 1995.

"There are still many people who haven't claimed their share entitlement following building society and life company demutualisations. Time has run out for many as after 12 years, the entitlement (which will now be to cash rather than shares) reverts to the company and can be used for general purposes. "
http://www.which.co.uk/money/savings-and-investments/guides/find-unclaimed-assets/shares-and-dividends/

Steve_xx

alanq wrote: »

I don't know how similar this is to building society demutualisations. With them one needed £100 deposited and had a number of years to claim the shares after which one had up to 12 years in total to claim the proceeds. Trustee Savings Bank floated in 1995.

"There are still many people who haven't claimed their share entitlement following building society and life company demutualisations. Time has run out for many as after 12 years, the entitlement (which will now be to cash rather than shares) reverts to the company and can be used for general purposes. "
http://www.which.co.uk/money/savings-and-investments/guides/find-unclaimed-assets/shares-and-dividends/

Thanks for this information. There may be some similarity to building society demutualisations, except for the £100 rule of course. I had just an old shilling in my TSB account and I was able to claim my allocation at the time.