Tuesday, May 08, 2007

The Uncollected Windfalls

Hidden beneath the headlines of today's bumper results from Standard Life, which saw sales rise by 40% for the first quarter to £3.9BN, is the less well known story that over 200,000 people with Standard Life policies have yet to collect a total of 83M free flotation shares they are entitled to.

The share price of Standard Life, since it was listed last July, has risen from 240p to 335p.

The 200,000 shareholders have until 2016 to claim their shares, before Standard Life claims the money.

The largest current outstanding windfall belongs to a member in Derby, who is owed £116,123 from 36,923. Second is somebody in Glasgow who is owed £115,151 and third is an individual also from Derby who is owed £109,424. There are a further two uncollected pots of cash worth around £71,500.

It is truly unbelievable how foolish and absent minded some people can be, when it comes to money.

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