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Major Standard Life share bonus Standard Life issues share bonus
(1 day later)
Bonus shares worth almost a quarter of a billion pounds are to be issued by Standard Life on the first anniversary of its stock market flotation. 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 Edinburgh-based financial services company will issue shares worth £233m to more than 1.7 million eligible retail investors in 48 countries. The company has been traded on the Stock Exchange since its £4.7bn demutualisation on 10 July, 2006.
They have seen stock increase in value from £2.30 to about £3.30. Investors will be given one share for every 20 they have held continuously from the date of flotation.
Standard Life has been traded on the Stock Exchange since its £4.7bn demutualisation on 10 July, 2006. Standard Life will issue about 70 million bonus shares to about 1.7 million individual shareholders.
The mailing to eligible shareholders is planned to begin on 23 July Standard Life spokeswoman class="" href="http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/shares/3/37682/default.stm">Standard Life's share price It will begin writing to shareholders from 23 July.
Any shareholder who received demutualisation shares, or who bought shares in the preferential offer, will receive one free share for every 20 they have held continuously over the 12-month period. The average number of free shares awarded at demutualisation was 641, at the offer price of 230p.
It is estimated the average investor will receive shares worth about £137, while one individual in the UK is to net a windfall of £28,000. 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."
The company has also revealed that there are almost 81 million unclaimed shares belonging to more than 200,000 Standard Life customers.
Their value will be held until 2016 when they will be used for general corporate purposes or charitable causes.