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BAA Shares

Last post Fri, Apr 20 2012, 11:42 AM by Moulah. 11 replies.
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  •  Fri, Apr 20 2012, 11:42 AM

    Re: BAA Shares - is interest payable on the bid price until receipt?

    I too have come across this old shareholding and have recently contacted computershare.com directly by phone (0800 408 1003). They have helpfully now offered to pay the value of the shares by sending me a cheque shortly in the full amount.

    However, I was rather surprised to be told on my enquiry that there would be no interest payable (notwithstanding the passage of nearly 5 1/2 years since the purchase). I was told that the reason for this (from the supervisor apparently) was because the purchase money was not placed by ADI (the purchaser) in an interest bearing account and therefore since no interest was received by them the selling shareholder could not expect any interest to be received.

    Does anybody know whether this is normal practice? It rather surprised me. Should I be pressing for interest since August 2005 on the purchase price?

    any ideas out there?

    • Post Points: 5
  •  Tue, Feb 15 2011, 11:33 AM

    Re: BAA Shares

    I realise this is a very old posting. However, I have just stumbled across the same thing with my Mother's estate. A letter from Capita Tracing prompted my search to avoid the fees to get the monies owing back to her estate. It has been quite simple in my case. I wrote to
    Computershare Investor Services
    The Pavillion
    Bridgewater Road
    BRISTOL
    BS99 7NH

    Of course all share certificates need to be enclosed and in my case a certified copy of probate. It was relatively easy and saved about £400.
    • Post Points: 20
  •  Fri, Jun 29 2007, 11:14 AM

    Re: BAA Shares

    I am not one for small print, and was all set to just reply to Keysearch. Thankfully my wife is adept a forms, having worked for a Buiding Society, and stopped me in the nick of time. I phoned Computershare and they sorted out for me.
    • Post Points: 20
  •  Fri, Jun 29 2007, 11:01 AM

    Re: BAA Shares

    Hi

    its a complete rip off, I am surprised that any reputable company( BAA/ADI) would appoint Keysearch and then let them scam their shareholders, I got caught by not reading small print in Tand C's, all you have to do is call computershare on 08004081003 and they will get your money free of charge.The keysearch letter comes with the BAA logo on it and there is the perception that you arer using the appropiarte and legitimate channel. Its a disgrace and the directorsof BAA should allow their loyal shareholders to be ripped off in this way.

     

    • Post Points: 20
  •  Thu, Jun 21 2007, 2:26 PM

    Re: BAA Shares

    This is very interesting. Alex Mitchell, MD, Keysearch wrote to former shareholders in March 2007. Why are Computershare asking shareholders
    individually to contact Computershare. Surely Computershare must deal
    with Capita, the former registrars? And
    Keysearch, part of Capita, has names, addresses
    and share certificate nos for the shares


    BAA dividends were paid in January and end of August each year. Computershare in July 2006
    wrote on behalf of ADI to shareholders, requesting the original BAA share certificates. Shareholders duly sent off certificates. Some may have kept photocopies. Shareholders then received cheques in respect of these shares in early August 2006. At least some shareholders who were in the reinvestment scheme did not receive any August share certificates. These shares appear to be the shares which Alex Mitchell of Keysearch (part of Capita) is talking about in his letter of March 2007.



    The exact wording is as follows "Following the takeover, ADI has now
    acquired all remaining BAA shares, including those held by BAA
    shareholders who did not accept the takeover". Hmm.



    The Keysearch letter on the first page seems very official giving a free helpline
    number for Keysearch. Stating Keysearch, part of Capita, had
    been "appointed" by ADI.  To search for "BAA shareholders who have lost
    contact with the company and carry out an asset reunification
    programme." Hmmm.



    So between August 2006 and March 2007 some shareholders
    "lost contact with the company", according to Alex Mitchell, MD of
    Keysearch. .



    Furthermore Computershare says on its form "If you have mislaid
    your share share certificate please complete and sign below in order
    that a letter of indemnity can be issued. Please note there is a fee
    for the issue of each indemnity. Details of our fees ie administration,
    countersignature and waiver fees will be sent with the letter of
    indemnity."

    But what if you HAVEN'T "lost" or "mislaid" the share certificates for the dividend reinvestment scheme but sent those received from Capita to Computershare when requested by Computershare in July (but kept photocopies), received a payout in August and didn't receive the August share dividend certificates from either Capita or Computershare which seem to be the shares which Alex Mitchell, MD of Keysearch, part of Capita, is talking about and has the share certificate no for.



    Appreciate your thoughts on this!

    • Post Points: 5
  •  Wed, Apr 11 2007, 9:45 AM

    Re: BAA Shares

    the number of the baa web site is 0800 408 1003 , they will give you the address you need on there for your cash entitlement with NO charge .
    • Post Points: 20
  •  Tue, Apr 10 2007, 11:02 AM

    Re: BAA Shares

    Can you tell me if you mangaed to sort your shares out without paying Keysearch their commision?

     I am in the same predicament.

     

    Thanks

    • Post Points: 20
  •  Mon, Mar 19 2007, 11:23 PM

    Re: BAA Shares

    Dear Skint
    I have no idea who Keysearch are or what 15% plus vat relates to. If BAA was a full and successful takeover you will have shares in the new business or cash if it was an all cash offer. Nowadays companies do NOT send you a share certificate but tell you your shares are with a registrar and if you sell through the registrar you may pay as little as £10 for the privilege. NOW phone the company as someone else has suggested lower down and DON'T part with any cash to anyone unless you are absolutely satisfied it is an official request and unavoidable then double check it first.

    Maybe you're skint Skint because you're too philanthropic with your cash. I sometimes find difficulty getting up, my back sort of gets stuck to the mattress early in the morning. I feel sure that some of your cash would go a long way to helping my back problem. My address is Slacker's Cottage, Good For Nothing Road, Busted, IM1 4ME
    • Post Points: 5
  •  Mon, Mar 19 2007, 10:17 PM

    Re: BAA Shares

    You could have got £9.50 per share.I don't know what the value of the ADI equivalent has become.I remember holding some British Energy shares once and through my own tardiness missed out on a big windfall.They effectively became worthless.I learned a big lesson not to ignore those big packages which fall through the letterbox.

    I know where you are coming from but hopefully you will be able to recover the majority of your investment.

    Good luck.Let us know the outcome.I am sure others may benefit from your experiences.Somone else may have some firmer advice tomorrow.
    • Post Points: 5
  •  Mon, Mar 19 2007, 9:30 PM

    Re: BAA Shares

    Yes they were taken over by Ferrovial but no shares issued under that name, it would appear the shares are not BAA but ADI now. It does indeed look like I can go back to BAA/ADI and ask them. Keysearch charges are 15% plus VAT which would cost me about £400.
    • Post Points: 20
  •  Mon, Mar 19 2007, 9:13 PM

    Re: BAA Shares

    Not an expert on this but weren't they taken over by a Spanish Company? Ferrovial. If it was me,i would ring the head office of BAA in this country and ask for Investor Relations/legal or Company Secretary.Even if they don't exist as such,somone should be able to point you in the right direction.more than likely,you are now the owner of some Spanish shares which could be traded but you may need a broker who deals in that market.

    Anyway,first things first.Then you can weigh up the relative costs with the Keysearch offer.What are their charges?
    • Post Points: 20
  •  Mon, Mar 19 2007, 8:46 PM

    BAA Shares

    Hi
    I have some BAA shares but me been lazy I didnt respond to the information sent to me during the takeover in August 2006. I have just recived a letter from a company called Keysearch who will reunite me with the assets but at a cost, 15% plus VAT. Is there a cheaper way of getting my hands on the cash or do I pay up and kick myself for been lazy.
    Regards
    Andy
    • Post Points: 65