Dissenting Shareholder

burnageblue

Hi

I’d like some advice about being a dissenting shareholder in a company.

I don’t know anything about being a stock or shareholder. I know that I shouldn’t accept financial advice on here but  would still like someone who has more expertise than myself to offer their thoughts.

I have a small number of shares in a company which were bought more than 25 years ago.. 

About 5 years after the shares were bought another shareholder bought 90% of the company.

This triggered a situation where the person who owned 90% of the company was then able to buy my shares at a specific price.

I was made an offer through the post for these shares which was much less than what was originally paid for these shares.

I was pretty non plussed about the situation.

I didn’t complete the paper work to accept the offer and to be honest forgot about the shares.

A few years later I was contacted by a company called Link. They sent me paperwork to complete but again I didn’t complete the paperwork to accept the offer.

In the time that has passed since the  offer was made for my shares that I didn’t accept, the company  was sold again and started doing really well, and the valuation of the company has gone up by a huge amount.

I’ve since found the paperwork from a few years ago and contacted Link.

They’ve told me that I’m now known as a ‘dissenting shareholder’ of the company as I haven’t accepted the offer.

And that the matter has now been passed to the Court Funds Office. I contacted the Courts Funds Office and they said they have no record of this being passed to them.

I contacted Link again via email to chase the matter and they’ve been really slow to reply.

This is their last email.

I can confirm that during the takeover of ‘Company X’ there were multiple dissentient registers set up due to different classes of shares. All of the registers have been accepted by the courts apart from the register which you are listed on. We have been having issues getting this register accepted by the courts and keeps getting rejected back by them. We will be going back through and looking at the points again as to why it was rejected back very soon.

 I don’t really know what to do and what my options are.

Can anyone please advise?  

Thanks

Hoenir

You can do little more than wait. Always advisable for minority shareholders to bail out. As end up having little to no influence. 90% controlling shareholders having considerable powers under Company Law.