Abbey National Floatation

huw01

I've recently inherited Santander shares from my father, around 290 shares. I've come across the original 1989 Abbey National Share Certificate with my fathers name on it showing he had 200 on flotation. Am I correct in my assumption that he would have had 100 as a saver then as he didn't have a mortgage with them he must have bought another 100 ? 

I'm just curious that's all !

maxsteam

The Abbey National flotation gave qualifying shareholders 100 shares each. Could he have inherited the shares from another qualifying shareholder? When Santander took over Abbey, shareholders received one Santander share plus 31p cash for each Abbey share so he's certainly bought a few more shares at some point.

dunstonh

Am I correct in my assumption that he would have had 100 as a saver then as he didn't have a mortgage with them he must have bought another 100 ? 

Shabby shares were converted to Santander plus 31p.   Some people used that money to buy extra shares.    Some people didnt receive the dividends and chose to buy new shares with them.     So, he could have built up the shares multiple ways.

huw01

maxsteam said:

The Abbey National flotation gave qualifying shareholders 100 shares each. Could he have inherited the shares from another qualifying shareholder? When Santander took over Abbey, shareholders received one Santander share plus 31p cash for each Abbey share so he's certainly bought a few more shares at some point.

Mum passed away in 1985 so I'm not sure if that would have any bearing on it. The share certificate dated 11 July 1989 states 200 Abbey shares

dunstonh said:

Am I correct in my assumption that he would have had 100 as a saver then as he didn't have a mortgage with them he must have bought another 100 ? 

Shabby shares were converted to Santander plus 31p.   Some people used that money to buy extra shares.    Some people didnt receive the dividends and chose to buy new shares with them.     So, he could have built up the shares multiple ways.

Hmm, but the 1989 certificate clerly states 200. I know over the years he reinvested to buy more, hence the balance of 290 odd shares I have interited

jimjames

huw01 said:

maxsteam said:

The Abbey National flotation gave qualifying shareholders 100 shares each. Could he have inherited the shares from another qualifying shareholder? When Santander took over Abbey, shareholders received one Santander share plus 31p cash for each Abbey share so he's certainly bought a few more shares at some point.

Mum passed away in 1985 so I'm not sure if that would have any bearing on it. The share certificate dated 11 July 1989 states 200 Abbey shares

dunstonh said:

Am I correct in my assumption that he would have had 100 as a saver then as he didn't have a mortgage with them he must have bought another 100 ? 

Shabby shares were converted to Santander plus 31p.   Some people used that money to buy extra shares.    Some people didnt receive the dividends and chose to buy new shares with them.     So, he could have built up the shares multiple ways.

Hmm, but the 1989 certificate clerly states 200. I know over the years he reinvested to buy more, hence the balance of 290 odd shares I have interited

In that case it seems likely that he bought more shares unless he had a mortgage even with a small balance? 

huw01

jimjames said:

huw01 said:

maxsteam said:

The Abbey National flotation gave qualifying shareholders 100 shares each. Could he have inherited the shares from another qualifying shareholder? When Santander took over Abbey, shareholders received one Santander share plus 31p cash for each Abbey share so he's certainly bought a few more shares at some point.

Mum passed away in 1985 so I'm not sure if that would have any bearing on it. The share certificate dated 11 July 1989 states 200 Abbey shares

dunstonh said:

Am I correct in my assumption that he would have had 100 as a saver then as he didn't have a mortgage with them he must have bought another 100 ? 

Shabby shares were converted to Santander plus 31p.   Some people used that money to buy extra shares.    Some people didnt receive the dividends and chose to buy new shares with them.     So, he could have built up the shares multiple ways.

Hmm, but the 1989 certificate clerly states 200. I know over the years he reinvested to buy more, hence the balance of 290 odd shares I have interited

In that case it seems likely that he bought more shares unless he had a mortgage even with a small balance? 

thank you for your help. i did think he must have bought an extra 100