Egg PLC - asset reunificaiton programme - real or scam?

londongal76

Hello MSE's


I have received a letter from PRoSearch - writing to advise me that according to their records i haven't claimed an entitelment regarding the acquisition of Egg PLC. It will shortly be paid into Court as they're closing their searches in May.


It says as a former holder of 0 certificated and/or 125 non-certificated Egg plc shares i'm entitled to 27 Prudential PLC Ordinary shares but is asking for my original Egg share certificates (which i don't have as they have a very old address registered and I never owned shares unless they gave every account holder some as part of the sale in 2008?).


Is this a real letter or a scam? I've tried my google fu but it's coming up empty and my share knowledge is minimal at best.


Many thanks,


LG.

Paul_DNAP

Read this thread
https://forums.moneysavingexpert.com/discussion/2618369/prosearch-scam


It seems that they are genuine in their ability to reunify lost shares with their rightful owners, but they charge pretty massive fees for doing this (fees detailed in small print and are taken from your lost dividends or from selling your shares). If you are sure you had these shares then you ought be able to reclaim ownership of them for a lot less money. Prudential shares are at 1,900p so your 27 will be just over £500.

londongal76

Thank you very much - i'd done a search and missed that.

alanq

londongal76 wrote: »

It says as a former holder of 0 certificated and/or 125 non-certificated Egg plc shares i'm entitled to 27 Prudential PLC Ordinary shares but is asking for my original Egg share certificates

As a non-expert in these matters "0 certificated and/or 125 non-certificated Egg plc shares" means to me that no paper certificates exist - so how can they ask you to send them?

Perhaps it would be worth contacting Equiniti directly to discover if you have any Prudential shares registered.
http://www.prudential.co.uk/investors/shareholder-information/historical-information

londongal76

THanks - I did exactly that, and apparently i do. I presume it must've been a clause in the buyout somewhere, that Egg customers got gifted a handful of shares.


I've now written to Equiniti to formally claim them - which is what they said to do, bypassed ProSearch, so lets see how that process goes!

janinefulton

Hi londongal

i was in the same position as yourself and also contacted equiniti directly- after a few letters back and forth, i've received a cheque for about £90 of past dividends and 27 prudential shares - did you get sorted?