Aviva plc shares

wmb194

Baoser said:

I currently hold 275 Aviva shares. I'm now going to have to be forced to buy additional shares to round it up to a multiple of 100 or I end up losing 75 shares as there'll be no fractional shares!

Consolidating sucks if you're after the dividend. Whilst the initial value of the shares remain the same, since you'll have less units you'll have a smaller multiplicator.

*fewer units. No, you've misunderstood what fractional means ie. of one share. 275 is a perfect number and for you there won't be any. Fractional entitlements in these situations are usually sold into the market and the shareholder will receive the value so you wouldn't have lost out by much if anything anyway.

https://www.aviva.com/investors/b-share-scheme-and-share-consolidation-calculator/

Thrugelmir

Baoser said:

I currently hold 275 Aviva shares. I'm now going to have to be forced to buy additional shares to round it up to a multiple of 100 or I end up losing 75 shares as there'll be no fractional shares!

Consolidating sucks if you're after the dividend. Whilst the initial value of the shares remain the same, since you'll have less units you'll have a smaller multiplicator.

You aren't going to lose 75 shares. Your current holding will be converted to new 209 shares once the redemption and consolidation have taken place. In addition any fractional share entitlement will be refunded to you. 

The example given in the circular is simply for illustrative purposes only i.e. 76 : 100 could alternatively be expressed as 7.6 :10.  The 0.6 fractional entitlment would be sold in the market on behalf of the stockholder. 

400ixl

Baoser said:

Consolidating sucks if you're after the dividend. Whilst the initial value of the shares remain the same, since you'll have less units you'll have a smaller multiplicator.

That is also incorrect. The dividend pot will be the same value, and you will own the same proportion of that value.

jayell

My wife held  796 shares in CGNU but never received her new Aviva shares. They now say that they were all sent out in May 2022. As she received no notification of any of this, she now has to pay £55 for a 'indemnity for lost certificate'. This doesn't feel very fair.
After reading the above she is presumably going to get less shares as well.
Will they even be worth £55?
Is there any way to avoid this fee? Would a local firm be cheaper for this indemnity. 
As a 76 year old lady, I don't think she will be getting anymore shares 
 

jayell

BTW, we are having to deal with Shareview/Equiniti. They are not cheap. Equiniti waived the lost share fee but insist on the indemnity fee  

[Deleted User]

Hi,

Baoser said:

I currently hold 275 Aviva shares. I'm now going to have to be forced to buy additional shares to round it up to a multiple of 100 or I end up losing 75 shares as there'll be no fractional shares!

Consolidating sucks if you're after the dividend. Whilst the initial value of the shares remain the same, since you'll have less units you'll have a smaller multiplicator.

now that things have been explained to you, will you just dump the lot?

jayell

frugalmacdugal said:

Hi,

Baoser said:

I currently hold 275 Aviva shares. I'm now going to have to be forced to buy additional shares to round it up to a multiple of 100 or I end up losing 75 shares as there'll be no fractional shares!

Consolidating sucks if you're after the dividend. Whilst the initial value of the shares remain the same, since you'll have less units you'll have a smaller multiplicator.

now that things have been explained to you, will you just dump the lot?

If this was addressed to me, the answer is, she will stick to cash ISAs from now on. 

wmb194

jayell said:

My wife held  796 shares in CGNU but never received her new Aviva shares. They now say that they were all sent out in May 2022. As she received no notification of any of this, she now has to pay £55 for a 'indemnity for lost certificate'. This doesn't feel very fair.
After reading the above she is presumably going to get less shares as well.
Will they even be worth £55?
Is there any way to avoid this fee? Would a local firm be cheaper for this indemnity. 
As a 76 year old lady, I don't think she will be getting anymore shares 
 

*Fewer shares

I'm afraid it's just the nature of owning shares in certificated form i.e. sometimes they're lost in the post and you have to deal with Equiniti and its demands. To avoid this aggravation, it's a good idea to lodge them with a stockbroker.

If you Google, "share certificate indemnity insurance" you'll find a few potential providers e.g., Aston Lark and Lawsure but I've never had to deal with this so cannot vouch for any of them.

It hasn't been CGNU in a long time: it changed its name to Aviva in 2002; has you wife been receiving dividends and other distributions? With the share reduction there was an associated return of capital as compensation to make it a neutral event overall. (It was related to the sale of a company Aviva owned abroad.)

jayell

We will have to bite the bullet and pay up. Definitely getting rid of all paper shares. I'll open an X-O account for her. Thanks