Alasdair wrote:
> 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?
Its a con , you can sell the shares yourself for around £30.00
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