"Alasdair" wrote in message
news:b7pm24dpfgp8rd9pcraihu1q9jp3t8ghmg@4ax.com...
>I bought some shares when Margaret Thatcher's government was
> privatising everything. In two or three cases, the companies
> concerned were taken over and my relatively few shares compulsorily
> purchased.
>
> I got paperwork telling me I was entitled to £X but when I read the
> small print I was told that there was an administration fee payable
> before I could get the money.
>
> Yesterday, I got a letter from a company called Prosearch who told me
> that, as a former holder of O2 shares, I was entitled to some £3000
> because my holding had been compulsorily purchased by Telefonica SA
> but over £400 would be deducted from my payout as an administrative
> fee by Prosearch.
>
> I rang Prosearch on their 0800 helpline and asked what the fee of £400
> was for. I was told that this was a "dedicated and voluntary service"
> and I didn't have to use it.
>
> I have the same problem with BAA shares and I'll investigate that
> further.
>
> Does anyone in uk.finance know how to get the proceeds of compulsorily
> purchased shares without having to pay administration fees?
Presumably by contacting the registrar of the company that now owns the
company you had shares in. That information should be available on the
website of the company in question.
--
Dave Baker
Puma Race Engines
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