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The Masked Tulip

Equiniti Shareview Repayment

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I had some shares in Friends Provident some years ago. I apparently had a dividend of £5.30 owed to me by them.

This morning I got a letter from a company - Equiniti Shareview - saying that they were tasked with taking over finding lost dividends to pay to people. They have charged me a £5 management fee from June 2018 to June 2019 for this. Apparently they sent me a letter a few months ago.

They now want £10 to pay me 30p. There will be another £10 charge in June.

I knew nothing of this. I assume this was a scam company at first but apparently it is legit.

I appear to have no choice but to pay them £10.

Thoughts anyone?

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5 minutes ago, The Masked Tulip said:

I had some shares in Friends Provident some years ago. I apparently had a dividend of £5.30 owed to me by them.

This morning I got a letter from a company - Equiniti Shareview - saying that they were tasked with taking over finding lost dividends to pay to people. They have charged me a £5 management fee from June 2018 to June 2019 for this. Apparently they sent me a letter a few months ago.

They now want £10 to pay me 30p. There will be another £10 charge in June.

I knew nothing of this. I assume this was a scam company at first but apparently it is legit.

I appear to have no choice but to pay them £10.

Thoughts anyone?

Surely, you don't have to accept the 30p ?

immediately, I can't see how you are under any obligation as you have signed no contract authorising them to do so.

I'd have assumed that you should have received a letter that went

"We have been advised you may have lost dividends as a result of holding shares in Friends Provident. Our charges for recovering these lost dividends for you are as follows. If you would you like us to proceed on your behalf please sign and return the enclosed form"

I'd tell them to fekk off and then ignore all further correspondence.

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Just now, Hopeful said:

Surely, you don't have to accept the 30p ?

immediately, I can't see how you are under any obligation as you have signed no contract authorising them to do so.

I'd have assumed that you should have received a letter that went

"We have been advised you may have lost dividends as a result of holding shares in Friends Provident. Our charges for recovering these lost dividends are as follows. If you would you like us to proceed on your behalf please sign and return the enclosed form"

 

Never had such a letter. Certainly never signed such a letter.

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Have a read of this:

https://www.irishtimes.com/business/personal-finance/what-happened-dividends-on-friends-provident-shares-1.2671645

And then contact Georgeson as below.

 

Quote

 

Aviva tracing programme with Georgeson

At the 2018 Annual General Meeting, shareholders approved changes to our Articles of Association allowing the implementation of a share forfeiture programme. This will allow us to sell shares of any holder who has not claimed a dividend for 12 years and not been in contact with our Registrar during that time. As a result Aviva has renewed the Georgeson tracing programme. 

 

It is very important that if you are contacted by Georgeson, you respond. The contact details for Georgeson are as follows if any shareholder has any queries:

Telephone

0800 923 1521

Email

assetreunification@georgeson.com

Website

Georgeson

 

https://www.aviva.com/investors/shareholder-updates/

 

Ignore the company trying to rob a tenner from you.

 

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25 minutes ago, The Masked Tulip said:

I had some shares in Friends Provident some years ago. I apparently had a dividend of £5.30 owed to me by them.

This morning I got a letter from a company - Equiniti Shareview - saying that they were tasked with taking over finding lost dividends to pay to people. They have charged me a £5 management fee from June 2018 to June 2019 for this. Apparently they sent me a letter a few months ago.

They now want £10 to pay me 30p. There will be another £10 charge in June.

I knew nothing of this. I assume this was a scam company at first but apparently it is legit.

I appear to have no choice but to pay them £10.

Thoughts anyone?

Wipe your arse on the letter and ignore it. You have no legal obligation to them at all. 

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19 minutes ago, Frank Hovis said:

Have a read of this:

https://www.irishtimes.com/business/personal-finance/what-happened-dividends-on-friends-provident-shares-1.2671645

And then contact Georgeson as below.

 

https://www.aviva.com/investors/shareholder-updates/

 

Ignore the company trying to rob a tenner from you.

 

 

Thanks.

I rang Georgeson and they could do nothing. Put me in touch with the current registar for Aviva shares - they could do nothing either. Apparently Equiniti do hold the dividend payment and I have to deal with them.

It seems that Equiniti will now charge me a fee of at least £10 to pay me 30p. If I do not pay them they will just run a bill up against me every 12 months. Surreal.

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1 minute ago, The Masked Tulip said:

 

Thanks.

I rang Georgeson and they could do nothing. Put me in touch with the current registar for Aviva shares - they could do nothing either. Apparently Equiniti do hold the dividend payment and I have to deal with them.

It seems that Equiniti will now charge me a fee of at least £10 to pay me 30p. If I do not pay them they will just run a bill up against me every 12 months. Surreal.

Pisser, if that Aviva statement had been more widely circulated a year ago then you would have been in beforehand.

I would suggest another call and a bit more questioning: can you have the shares properly registered to your current address and so receice future dividend payments; writing off the ones in the past year?  Or can you now sell your shares (which would be my preferred option), again whilst writing off the dividends.

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Just now, Frank Hovis said:

Pisser, if that Aviva statement had been more widely circulated a year ago then you would have been in beforehand.

I would suggest another call and a bit more questioning: can you have the shares properly registered to your current address and so receice future dividend payments; writing off the ones in the past year?  Or can you now sell your shares (which would be my preferred option), again whilst writing off the dividends.

 

I do not have the shares anymore. I sold them about 12 to 15 years ago. This appears to be an outstanding dividend from that time.

So it looks like I am going to have to cough up money to get these people off my back. The posts on Trust pilot say they are a difficult company to contact let alone deal with. Feels like legalised robbery to me but seems I have no choice.

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9 minutes ago, The Masked Tulip said:

 

I do not have the shares anymore. I sold them about 12 to 15 years ago. This appears to be an outstanding dividend from that time.

So it looks like I am going to have to cough up money to get these people off my back. The posts on Trust pilot say they are a difficult company to contact let alone deal with. Feels like legalised robbery to me but seems I have no choice.

I can't see how you have any obligation to Equiniti at at all,

they could have set their fee at £1, £10, £100, £1000, £10,000 etc, which is how ridiculous it seems to me

I can't see how you have any contract with them for their services

 

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1 minute ago, Hopeful said:

I can't see how you have any obligation to Equiniti at at all,

they could have set their fee at £1, £10, £100, £1000, £10,000 etc, which is how ridiculous it seems to me

I can't see how you have any contract with them for their services

 

 

Nor do I. But I think it is going to be one of these things where I cough up the money to get them off my back. Wank I know. They probably make a good living from doing this to millions of small investors whose forgotten dividends they take over.

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10 minutes ago, The Masked Tulip said:

 

I do not have the shares anymore. I sold them about 12 to 15 years ago. This appears to be an outstanding dividend from that time.

So it looks like I am going to have to cough up money to get these people off my back. The posts on Trust pilot say they are a difficult company to contact let alone deal with. Feels like legalised robbery to me but seems I have no choice.

Ah - maybe try contacting Prosearch

 

Quote

 

January 2016

Prosearch to start tracing programme of previous Friends Provident shareholders

We would like to confirm that Equiniti, as the former administrator of the Friends Provident Share Account, have instructed Prosearch to conduct a mailing programme to contact previous Friend Provident Share Account holders,entitled to funds from the takeover of Friends Provident Group plc in November 2009. The exercise is scheduled to start later this month, and we can assure any shareholders contacted by Prosearch that this exercise is authorised by Equiniti.

Any queries in respect of the exercise should be directed in the first instance to the Prosearch helpline which is 0800 612 3660. Should you wish however, to contact Equiniti directly, regarding any correspondence you have been sent, please telephone the Equiniti helpline on 0371 384 2056 or write to them at Aspect House, Spencer Road, Lancing, West Sussex, BN99 6DA.

 

 

https://www.aviva.com/investors/shareholder-updates/

Though if you read this story they are not talking of any obligation to respond to Equiniti.  I would contact them by email saying that you do not want their services and waive all rights to the old dividends.

https://www.thisismoney.co.uk/money/experts/article-2292236/Equiniti-says-Im-owed-shares-windfall-I-scam.html#

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11 minutes ago, The Masked Tulip said:

 

Nor do I. But I think it is going to be one of these things where I cough up the money to get them off my back. Wank I know. They probably make a good living from doing this to millions of small investors whose forgotten dividends they take over.

I wouldn't :-)

But then i'm cussed like that.

I'd feel I was under no obligation to receive my lost dividend.

Otherwise I'd feel i was supporting these shysters, and the toilet bowl that is now the UK is already overflowing with plenty of scum like them.

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write to them and say that you have no interest in the lost dividends.  Furthermore their letters are causing you mental harm and distress and you will be seeking medical advice if the contact continues.

 

 

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9 minutes ago, Frank Hovis said:

Ah - maybe try contacting Prosearch

 

 

https://www.aviva.com/investors/shareholder-updates/

Though if you read this story they are not talking of any obligation to respond to Equiniti.  I would contact them by email saying that you do not want their services and waive all rights to the old dividends.

https://www.thisismoney.co.uk/money/experts/article-2292236/Equiniti-says-Im-owed-shares-windfall-I-scam.html#

 

I don't think it works like that. They have a service which they feel they can legitimately charge you an annual fee. No doubt that will mount over the years. I notice on Trustpilot people saying that they complained to the Financial ombudsman but go no where. I feel mugged.

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Just now, wherebee said:

write to them and say that you have no interest in the lost dividends.  Furthermore their letters are causing you mental harm and distress and you will be seeking medical advice if the contact continues.

 

 

Bang on.

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Just now, wherebee said:

write to them and say that you have no interest in the lost dividends.  Furthermore their letters are causing you mental harm and distress and you will be seeking medical advice if the contact continues.

 

 

 

I point out in my email to them that I do have a chronic health problem. I doubt that they will care. But, yes, stress levels do go up when you realise that you are being shafted and can do nothing about it.

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3 minutes ago, The Masked Tulip said:

 

I point out in my email to them that I do have a chronic health problem. I doubt that they will care. But, yes, stress levels do go up when you realise that you are being shafted and can do nothing about it.

Per this go to Prosearch:

Quote

Am I eligible for a payment?

Former shareholders with a valid claim are entitled to their funds and should contact Equiniti or ProSearch directly to obtain their money. FLG cannot confirm whether you are entitled.
Do I have to pay a fee?

ProSearch charge a 10% plus VAT administration fee which will be deducted from any funds owing to you if you claim through them. However if you approach Equiniti Limited, our former registrar, directly, they will charge you a fee for issuing a cheque to you, as set out in the table below. The cheque fee will be dependent on how many types of payment you are owed; for example, if you have unclaimed dividends as well as funds from the takeover of Friends Provident by Resolution Limited in 2009, you may be charged an equivalent of two cheque re-issuance fees. Dependent upon the amount of money owing to you, you may prefer to contact ProSearch and/or Equiniti Limited to explore which claim route will be the cheapest option for you.
Value of Replacement Payment Fee (Per Reissued Payment): £ (incl VAT)FeeUnder £10.00FREE£10.00 to £19.99£1.00£20.00 to £29.99£2.00£30.00 to £49.99£12.50£50.00 to £99.99£20.00£100.00 to £499.99£35.00£500 and above£70.00



https://forums.moneysavingexpert.com/showthread.php?t=4028867&page=3

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Just now, The Masked Tulip said:

 

Ah, thanks - so in theory it will cost me nothing for them to pay me 30p via a cheque? Did I read that right?

Well 3.6p isn't it, if that post is correct.  It suggests that you have the option to select Prosearch over Equiniti and they read as providing a reasonable servcie rather than a scam.

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intresting, we got a letter from Equinity last week, forwarded from an address we lived at 20 years ago, fuck knows how the current occupants managed that. Apparantly we had some anglian water shares which were bought a while back and we can claim the sale share price.

No recollection of owning anglian water shares, was it privatised? Mum may have bought some in my name if there was a public sell off, but otherwise I'd imagine it being a trivial amount. Do I reply or bin it?

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15 minutes ago, The Masked Tulip said:

 

I don't think it works like that. They have a service which they feel they can legitimately charge you an annual fee. No doubt that will mount over the years. I notice on Trustpilot people saying that they complained to the Financial ombudsman but go no where. I feel mugged.

Going back to the OP, Equiniti want £10 to pay you. They want a tenner to issue a cheque.

If Equiniti do not issue a cheque then you do not owe them £10

I would guess that the increase in charge in June is to incentivise you to take payment now, to cough up a tenner

I don't think you ever need to take your 30p payment. Just that if you do ever decide that you need that 30p it may cost you £1000 to get it by then xD

I'd write to them and tell them you do not want the £30p and would like them to dispose of it however they wish.

I don't know if there is any help it the following link

https://forums.moneysavingexpert.com/showthread.php?t=4028867&page=3#1

 

Edited to add: i see we have all found the same thread. the above is my interpretation of it

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1 minute ago, snaga said:

intresting, we got a letter from Equinity last week, forwarded from an address we lived at 20 years ago, fuck knows how the current occupants managed that. Apparantly we had some anglian water shares which were bought a while back and we can claim the sale share price.

No recollection of owning anglian water shares, was it privatised? Mum may have bought some in my name if there was a public sell off, but otherwise I'd imagine it being a trivial amount. Do I reply or bin it?

Have a search and see if you can do this via ProSearch as it will be cheaper.

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2 minutes ago, Frank Hovis said:

Well 3.6p isn't it, if that post is correct.  It suggests that you have the option to select Prosearch over Equiniti and they read as providing a reasonable servcie rather than a scam.

 

I read that as Prosearch charging 3.6p but Equiniti charging nothing for a cheque now as the sum owed is under £10.

Frankly, I would rather pay the money to Prosearch but wonder whether there is going to be some complication in Equiniti being the registar and having sent me the letter. Feck.

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