Asset Reunification Programme
Pennon Group plc has launched an asset tracing, and reunification programme managed by professional asset reunification service, AssetTrace+ with a purpose of reaching out to Pennon’s shareholders who have, for one reason or another, become disconnected from their Pennon shareholding and have unclaimed dividends as a result.
Pennon appreciates that some shareholders can lose touch with us for a variety of reasons. Some shareholders do not notify the Registrar of a change of address; or may simply forget or are uncertain about their shareholding, particularly where beneficiaries or executors of an estate of deceased shareholders are not aware of the holding.
We want to reunite as many shareholders as possible with their lost asset and have asked AssetTrace+ to contact all shareholders with unclaimed dividends over 12 months old. If you have received a letter from AssetTrace+, please take action.
Why is this entitlement due?
Cheques that have been issued in respect of dividends paid by Pennon Group plc may have been returned undelivered and/or remain uncashed. Pennon has instructed AssetTrace+ to try to find and assist those shareholders or their legal representatives with the repatriation of unclaimed amounts to which they may be entitled.
What should you do if you have received a letter?
AssetTrace+ will only send a letter to an address at which they are reasonably certain that the shareholder, or their legal representative, now resides. The process is designed to make the recovery of entitlements as easy as possible. Please follow the instructions provided in the letter and either claim your entitlement online or, where required return the signed and dated form (along with any necessary documents) to AssetTrace+ .
Dividend Forfeiture
The Pennon Group plc Articles of Association allow unclaimed dividend payments be forfeited after a period of eight years. This means that if you do not respond by the deadline specified on the Claim Letter then these outstanding dividend proceeds will be returned to Pennon and the proceeds applied in accordance with the terms set out in the Articles of Association.
Share Forfeiture
The Pennon Articles of Association allow shares to be forfeited if certain conditions are satisfied which includes eight years’ worth of inactivity during which no dividend payments have been cashed nor activity/contact made by the shareholder. This means that if you do not respond by the deadline specified on the Sale Notice your shares can be sold, and the proceeds returned to Pennon along with the associated outstanding dividend payments. The proceeds of these would be applied in accordance with terms set out in the Articles of Association.
Who is AssetTrace+
AssetTrace+ is a trading name of Link Market Services Limited and is part of Link Group who are the registrar for Pennon Group plc. AssetTrace+ operate a service which helps reunite individuals, or their legal representatives, with unclaimed assets relating to companies in which they are or were a shareholder.
How to contact AssetTrace+
If you have received a claim form from AssetTrace+ and have any questions or concerns, please find their contact details below:
Email: [email protected]
Telephone: UK 0333 300 1935 or from overseas +44 333 300 1935
Lines are open Monday to Friday, 8.30 am - 5.30 pm UK time excluding public holidays in England and Wales. Calls are charged at the standard geographical rate and will vary by provider. Calls from outside the UK will be charged at the applicable international rate.
Post: AssetTrace+, Central Square, 29 Wellington Street, Leeds, LS1 4DL
Alternatively, if you would like to clarify whether you or a deceased person for whose estate you act holds shares in Pennon Group plc, please contact our Registrar, Link Group for further assistance. Their contact details can be found here
What should I do if I do not want to use the AssetTrace+ service?
To make your own arrangements to recover your entitlements please contact our Registrar, Link Group. Please be aware that there may also be charges for the services provided by Link.
Email: [email protected]
Telephone: UK 0371 664 0300 or from overseas +44 371 664 0300
Lines are open Monday to Friday, 9.00 am - 5.30 pm UK time excluding public holidays in England and Wales. Calls are charged at the standard geographical rate and will vary by provider. Calls from outside the UK will be charged at the applicable international rate.
Post: Link Group, Central Square, 29 Wellington Street, Leeds LS1 4DL on 0800 169 7775. Lines are open 8.30am to 5.30pm, Monday to Friday (excluding UK public holidays).