Application for shares - retrospective

E

earth2mary

Guest
Hi,

I'm trying to look into something for my parents. This is approx the info I've been given, and if anyone has any advice, I'd really appreciate it :)

In the mid-80s, TSB in Cork offered all their customers the option of receiving shares (as far as I understand) in the bank, but my Dad didn't sign the paper given and that was that, or so they understood. Since then, they've discovered that a relative of theirs (since died) managed to 'retrieve' (I suppose) his shares about 10 years after the fact. They've no idea how he managed this, and I've no idea where to start!!
I'm going to phone the bank later (if they've any idea what I'm talking about I'll be stunned) but I was hoping if someone would have an inking of where I should meander next??

Here's hoping!!
Mary :)
 
Hmmm...the only thing I can think of that comes remotely close is that when Irish Life & Permanent was formed, free shares were given out to existing members. I'm not sure what the procedure was/is for eligible members who failed to claim their free shares.
 
I wonder if it could be a situation whereby a share purchase offer (or share swap) was offered, and was accepted by the required majority thereby making the offer unconditional, which means that anyone who didn't accept would be deemed to have accepted the offer nonetheless. This would mean that if one was entitled to shares or a price/value for shares, at the time the offer became unconditional, these terms will apply indefinitely until all those who are eligible are eventually satisfied. I hope this is clear enough, but I am not aware of the background to the TSB takeover, nor do I feel like looking up the relevant Companies Act references which cover the above at this early stage. Try the Irish Life investor relations website link.
 
But how would one individual get their hands on the share entitlement of another person as suggested by the original post?
 
I suspect that the original poster means that the relative managed to reclaim shares owned they themselves owned after a long gap, so I read the question as "if the relative managed to do this, can my father do something similar?"

I could be wrong but I don't think the poster meant to infer that the relative had managed to claim shares owned by Mary's father.
 
OK - I (mis?)read the original post as somebody potentially misappropriating somebody else's shares. Note that in many cases there are time limits for the claiming of such shares (especially in the case of a demutualisation) after which the qualifying individual simply loses the right to claim them.
 
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