Standard Life - 73p Cash Payment But .......

bigmondy

What has happened?

My shares have reduced by a factor of 11 - 9 already. I failed to notice a delay in share number (not volume - I know) reduction and pay-out of the 'windfall' dividend?


:eek:

xylophone

http://www.standardlife.com/static/docs/2015/generalmeetingcircular2015.pdf

Page 5 (Timetable).

bowlhead99

bigmondy wrote: »

What has happened?

My shares have reduced by a factor of 11 - 9 already. I failed to notice a delay in share number (not volume - I know) reduction and pay-out of the 'windfall' dividend?


:eek:

A couple of weeks ago, the shares were trading normally. The next step was for the old shares to be cancelled - and new shares began trading WITHOUT the rights to the B/C share entitlements, last Monday. The B or C shares formally became yours and the rest of the shares carried on trading without those rights.

Then at some point in the next week or so, you'll get your cash pay out, based on the dividend or capital return you selected (or, that was selected for you if you didn't make an election).

bigmondy

Ah! Now all is clear, silly me!

saver861

Well - I have just come across this. Had no idea about it at all. We have 400 shares in SL from demutualisation but have had no info about this at all. hmmmm .... thats odd.

bigmondy

saver861 wrote: »

Well - I have just come across this. Had no idea about it at all. We have 400 shares in SL from demutualisation but have had no info about this at all. hmmmm .... thats odd.

Are they aware of your correct address - you can log on and register at the share portal here if you have your reference number:

https://www.standardlifeshareportal.com

bigmondy

Oh and congrats on your £290 windfall

bigmondy

Just realised - they have ROUNDED DOWN my share entitlement.

I had a .63 at the end of the calculation of /11 x 9. and they have taken the lower number to round down to.

:mad::mad::mad::mad:

These part time board members some earning £100's a year must be laughing up their sleeves if there are millions of these fractions suddenly disapearing in to their coffers.


PS: sorry for shouting.

zolablue25

Presumably, Bigmondy, you will have the value of your partial share loss included with your 73p per share payout. I believe that is the normal arrangement for share consolidations.

bowlhead99

bigmondy wrote: »

Just realised - they have ROUNDED DOWN my share entitlement.

What should they have done, given you 63% of one voting share and said, "good luck selling that on the stock market, buddy" ?

:mad::mad::mad::mad:

These part time board members some earning £100's a year must be laughing up their sleeves if there are millions of these fractions suddenly disapearing in to their coffers.

This is not the Superman 3 / Office Space virus.

So many people would get such lower stress levels if they would only read the damn paperwork (or the electronic version on the SL website) rather than venting in public before they looked into what was happening.