value of thus group plc shares

Report
Question

Please briefly explain why you feel this question should be reported .

Report
Cancel

'i have just found a share certificate dated 13/3/06 for 29 shares worth 25p each.
how do I find out how to cash in the shares

in progress 0
Share Certificates 1 Answer 8891 views 0

About the Author

Answer ( 1 )

  1. Please briefly explain why you feel this answer should be reported .

    Report
    Cancel

    Actually they may be worth 180p per share:
    Thus was compulsorily acquired by Cable & Wireless in 2008 and if you haven’t received this money then you are probably what is known as a “Dissenting Shareholder”.
    The usual reason is if a shareholder has moved addresses and not told the company Registrar.
    Get in touch with the registrars, Equiniti:

    Dissenters Register
    Equiniti Limited
    Aspect House
    Spencer Road
    Lancing
    BN99 6DA
    ‘Phone 0871 3842030

    It is surprising that there are many situations similar to Thus Group PLC involving other companies.
    However if you have a certificate for your shares it is usually fairly easy to trace what happened in respect of cash or share offers, change of name etc.
    These events are known as ‘corporate actions or activity’.
    In such a case of a takeover as in Thus Group you should always be able to obtain the ‘consideration’ due to you, be that cash or shares in the acquiring company.
    Many corporate actions are now effected by Scheme of Arrangement which results in the shareholder receiving the consideration automatically without the need for any shareholder input. Although often the shareholder’s address details will not have been updated with the company registrar creating another problem to be overcome.
    However where the shareholder is required to sign an acceptance form unless this is done the consideration will not be forthcoming.
    In this instance, like Thus Group PLC the shares will end up being held on a register of dissenting shareholders (the Dissenters Register).
    The shareholder or his/her legal representative will have to contact the Registrar administering this register to confirm what action needs to be taken to obtain the relevant consideration.
    It is fairly easy to establish who the Registrar is (internet search) and in any case there are only three major Registrars: Capita, Equiniti and Computershare so at worse you should only have to make three phone calls!
    There may be other more obscure examples and in this event it will be worth contacting someone like ourselves for guidance.

Leave an answer

Sorry, you do not have a permission to answer to this question .