More than 200,000 people still haven't claimed their windfall shares for Standard Life since the insurance giant floated last year.
How would you like to get 271 million pounds worth of shares absolutely free? Because that's what's still on offer ...
... to Standard Life
(LSE: SL.)
shareholders who have not yet claimed their windfall entitlements following last year's de-mutualisation.
The numbers are incredible. No fewer than 214,742 shareholders, according to the company's share register on 11 July last week, have so far not collected a grand total of 83,441,429 shares. These were allocated to policyholders when Standard Life floated a year ago and are now worth, at the current share price of 325p, a staggering £271,184,644.
That averages out at nearly £1262 per uncollected shareholding with the largest amount unclaimed being a chunky £29,000.
Barry Cameron, Standard Life media manager, commented: "You wouldn't have thought it would be so hard to give free shares away and it's certainly not for want of trying on our part. But we are planning a major direct mail drive this autumn to try to find as many missing shareholders as possible".
When Standard Life floated a year ago, the average windfall allocation to with-profits policyholders was 641 shares worth £1,474.30 at the 230p offer price. After adding in a 5.4p dividend per share on 31 May 2007, worth a further £34.61, and with the bonus shares (32 at the average allocation) taken into account, this holding would now be worth about £2,221 at today's price of 325p.
The message is crystal clear: these are free shares, just waiting to be collected by those entitled to them.
So if you had a Standard Life with-profits policy set up before 30 March 2004 and still in force at the end of May 2006, and either haven't heard from the insurer or have thrown away what you thought was one 'junkmail circular' too many ... contact the company now!
Anyone who thinks he or she may be entitled to unclaimed shares should go to www.standardlife.com or should phone 0845 275 3000.
Bonus shares worth more than £13m have been added to the unclaimed stock owned by missing members. These will be held in trust for ten years when they are likely to be given to charity.
Certificated shareholders will receive a further share certificate after 23 July detailing their bonus shares entitlement. If you are planning to sell, don't do so until you have formally received the bonus shares. If you hold your shares in the Standard Life Share Account they should be in the account by now. The payment of shares is automatic for shareholders with certificates or in the Standard Life Share Account. If you have moved your shares into a broker nominee account, the broker will need to claim these shares on your behalf.
Standard Life reminds investors who choose to hold on to their shares that they can now consider putting them within an ISA -- shares within an ISA last year would be ineligible for the bonus shares.
More: Standard Life Is Priced To Go
