Bass Plc- Old Shares

DannyG90

Hi,

just wondering if anyone had any advice.

My grandfather passed away recently and left an assortment of Bass Brewery Stock Certificates. I know the company went through the following changes;

In 2000, Bass changed its name to Six Continents

Six Continents (6C) was then split into two companies in 2003 - InterContinental Hotels Group PLC (IHG) and Mitchells and Butlers PLC (M&B).

My Grandfather moved to Ireland in approx 2003 and we are sure he didn't receive any of the new stock certs for the new companies and did not sell any of the shares, I have contacted the registrar Equiniti and given his details and post codes(that are on the stock certs) etc but on their end they are no matching anything. They have told me they do have something for his full name in Birmingham so now we are going to write to them with copies of the stock certs and also a list of the many addresses he lived in(pub landlord moved around a fair bit). Would the listing not be tied to the address he was at when the stock certs were issued?

The value of the shares if they have been transferred to M&B and IHG stock would be substantial, does anyone have any experience in similar situations? We are of course worried that this money cannot be claimed, does anyone know a reason where his beneficiaries would not be able to claim this? 

Just not fully sure the direction to go with this, any advice at all on procedures on what to do in these circumstances or information on similar instances would be greatly appreciated

wmb194

DannyG90 said:

Hi,

just wondering if anyone had any advice.

My grandfather passed away recently and left an assortment of Bass Brewery Stock Certificates. I know the company went through the following changes;

In 2000, Bass changed its name to Six Continents

Six Continents (6C) was then split into two companies in 2003 - InterContinental Hotels Group PLC (IHG) and Mitchells and Butlers PLC (M&B).

My Grandfather moved to Ireland in approx 2003 and we are sure he didn't receive any of the new stock certs for the new companies and did not sell any of the shares, I have contacted the registrar Equiniti and given his details and post codes(that are on the stock certs) etc but on their end they are no matching anything. They have told me they do have something for his full name in Birmingham so now we are going to write to them with copies of the stock certs and also a list of the many addresses he lived in(pub landlord moved around a fair bit). Would the listing not be tied to the address he was at when the stock certs were issued?

The value of the shares if they have been transferred to M&B and IHG stock would be substantial, does anyone have any experience in similar situations? We are of course worried that this money cannot be claimed, does anyone know a reason where his beneficiaries would not be able to claim this? 

Just not fully sure the direction to go with this, any advice at all on procedures on what to do in these circumstances or information on similar instances would be greatly appreciated

How can you be certain they weren't sold or dematerialised (lodged with a broker)? Why didn't he keep the registrar appraised of his address? Wasn't he interested in the dividends? He ignored a substantial holding for 21+ years?

Assuming they weren't sold, if he moved and didn't update his address with the registrar there's the danger the shares have been forfeited after the registrar became aware and was unable to trace him because e.g., dividend cheques or new certificates were returned.

If you have no luck with Equiniti you might need to contact the companies' secretaries and see whether they know anything and if the shares have been forfeited whether they'd be kind enough to reimburse you.

From IHG's Articles of Association, M&B's will likely be similar:




https://www.ihgplc.com/~/media/Files/I/Ihg-Plc/investors/debt-investors/ihg---articles-of-association.pdf

Hoenir

DannyG90 said:

we are sure he didn't receive any of the new stock certs for the new companies and did not sell any of the shares, 

How can you be so certain? The question of old paper certficates frequently crops up. 

idontnow

I would call shareview and ask for the bereavement department.  They should be able to help you by his name as well as the addresses where he lived.  You are rights how the shares were consolidated.  
I'm trying to find the original Bass share price for our shares just now! good luck 

SanTelmo780

Hello, regarding the Bass shares. I’m having the same sort of issues. Lost my husband last year and going through paperwork have found some Bass share certs. They were with Guardian Royal Exchange who no longer exist but have been taken over by Aegon. Rang them, absolutely useless, person I spoke to just kept repeating that they were a pension company! Didn’t listen to anything I explained. Then rang Shareview. Slightly more helpful and gave me the number of Companies House who apparently will be able to tell me what happens to the shares. I’m not hopeful. Any more advice out there?

Hoenir

The share certificates will only be of value to collectors, Bass ceased to exist as a company in it's own right in 2000.  

SanTelmo780

At the risk of sounding stupid.....What happened to all the shares then?

Hoenir

SanTelmo780 said:

At the risk of sounding stupid.....What happened to all the shares then?

In such situations. The shareholder receives a new share certificate in the name of the acquiring company or would receive a cheque if the takeover was an all cash offer. Or even a combination of the two.

These days the vast majority of shares are held electronically. Paper certificates being phased out. The shareholder will simply see the result of the corporate action as transactions on their platform. 

IanManc

SanTelmo780 said:

At the risk of sounding stupid.....What happened to all the shares then?

In 2000 Bass sold its brewing side, and renamed itself Six Continents PLC.

In 2003 Six Continents PLc split itself in two, forming InterContinental Hotels Group PLC,  and Mitchells & Butlers PLC. Both are listed on the London Stock Exchange.