Standard life share offer Warning

simoneves

SL now have enough information to pull my original paperwork from cold storage and send it to me (hopefully by e-mail), although that will apparently take 2-3 days. They still insist that I have to go through Capita even if I am choosing to keep the shares, but confirmed that I would not be charged the 15(18)% in that case. I assume that I would also not be charged that on the dividend payment? Once I have the info, I will try calling the (blue) Standard Life Shareholder Services number and see what they say.

simoneves

OK, so I have finally managed to persuade SL that I am who I say I am, and they have given me all the policy info I need to make my claim, with four days to spare.

Unfortunately, I didn't have time this morning (I'm in California) to call Capita again, but the guy I spoke to last time did say that my claim was registered (he gave me a six-character code as reference).

The only problem is that I just re-read the blue form again, and in the FAQ it says that those who no longer live in the UK, Eire, Channel Islands, Germany, or Austria, are not allowed to own the shares, and that they must be sold! Is this really true? If so, I'm kicking myself even more for not deal with this a year ago when they were worth a bunch more, and without the extra double-whammy of market drop and GBPUSD drop of you-know-what. I was hoping to keep them for a bit in the hope that some of that might recover...

simoneves

OK, so I read up on it, and it seems to be SL policy that you can only own their shares if you live in those regions. Hence, Capita insist that I sell the shares, although they will waive the 15% charge in that case (I already told them I didn't want to pay it even if I had been allowed to keep them, which they had agreed to). Otherwise, the process was painless and done over the phone. Hopefully my UK bank account will see the money soon. Of course, I got about half what I would have got a year ago. This is why I will die poor in a gutter...

DavidP24

OUCH!

Simon was there nobody in the UK that would let you use their address?

sabretoothtigger

Well in Cali you have the sun at least, now UK has left EU you are selling under a cloud here
Once you get the money and depart company from the service sales people, consider holding some SL when they do pay a dividend I think is reasonable.

Im just trying to find the giant SL thread buried here somewhere but recently Questor recommended people hold onto these shares. Here is the link, worth a read and thought for your own perspective I reckon
http://www.telegraph.co.uk/business/2016/06/29/questor-share-tip-buy-standard-life--as-shares-are-oversold/