On Wed, 14 May 2008 23:34:28 +0100, "Dave Baker"
wrote:
>
>"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.
And e-mail or phone Working Lunch on BBC to ask if they are interested
in featurng this
Stuart |