Hundreds unclaimed by fund's lost investors
Joe McGrath, 24 February 2010
PricewaterhouseCoopers (PwC) is looking to track down investors that may have once invested in the London & Edinburgh Investment Trust.
Twenty years ago, Stockholm & Edinburgh Investments (now Alecta Real Estate International) made an offer for all off the issued shares in London & Edinburgh Investment Trust.
For each ordinary share held by investors, they were to receive 220p in cash, while they were to receive 154.7 pence for each 6 per cent preference share and 448.6 pence for each 6.5 per cent preference share.
The takeover succeeded but a number of investors have failed to come forward, meaning that cash has been held in an account since the mid nineties acquiring interest.
Accountancy firm, PwC, this week issued a reminder on behalf of the fund that those investors that have not yet claimed only have until 8 March to do so.
Investors that think they may have a claim should contact Stephen Browne of PwC at Plumtree Court, London EC4A 4HT or phone 020 7583 5000.
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