Almost a quarter of a million people have yet to claim the shares they are entitled to following Standard Life's decision to float on the stock market, it has been revealed.
According to internal figures from the pensions provider, approximately 220,000 former members have not claimed shares since the organisation became demutualised in July 2006.
Using the company's share price earlier this week and the knowledge that there are 83 million shares outstanding, the financial services specialist estimates the total amount of unclaimed equity will be worth approximately £261 million.
Consequently, Standard Life chairman Sir Brian Stewart has advised people who think they be eligible for the investments windfall to get in touch.
"I would urge anyone who thinks they may have an entitlement to contact the company," he said.
"It is not in our interest, nor theirs, for these assets to be sitting unclaimed."
Another financial services provider that has decided in recent times to float on the stock exchange was Halifax.
In February 1997, members of the Halifax voted to become a public listed company and the financial services provider was officially listed in June of that year, creating some 7.5 million shareholders.
Pensions provider issues share reminder
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Pensions provider issues share reminder
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