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Standard Life issues share bonus | |
(1 day later) | |
Edinburgh-based financial services company Standard Life is to issue bonus shares to investors who have held on to their investment for a full year. | |
The company has been traded on the Stock Exchange since its £4.7bn demutualisation on 10 July, 2006. | |
Investors will be given one share for every 20 they have held continuously from the date of flotation. | |
Standard Life will issue about 70 million bonus shares to about 1.7 million individual shareholders. | |
It will begin writing to shareholders from 23 July. | |
The average number of free shares awarded at demutualisation was 641, at the offer price of 230p. | |
The share price has since risen to 330p. | |
The average shareholder can expect 32 bonus shares, worth about £106 at the current value. | |
A Standard Life spokeswoman said: "The mailing to eligible shareholders is planned to begin on 23 July. | A Standard Life spokeswoman said: "The mailing to eligible shareholders is planned to begin on 23 July. |
"The mailing will inform each individual shareholder of the amount of bonus shares they have been awarded." | "The mailing will inform each individual shareholder of the amount of bonus shares they have been awarded." |
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