Unclaimed Shares
The press advertisement below, confirming the planned disposal of free shares unclaimed from the conversion in October 1997 of Northern Rock Building Society to a public listed company, was issued by the Company on 30 October 2000.
Within the advertisement reference is made to the qualifying criteria for free shares appearing on this webpage - this information follows on from the press advertisement.
NORTHERN ROCK plc TO FORMER MEMBERS OF NORTHERN ROCK BUILDING SOCIETY SALE OF UNCLAIMED SHARES
This Notice does not apply to you if you have previously claimed your full entitlement to "free shares" as a former member of Northern Rock Building Society.
Northern Rock plc gives notice of its intention to dispose of those "free shares" which remain unclaimed following the transfer of the business of Northern Rock Building Society ("the Society") to Northern Rock plc ("the Company") on 1 October 1997.
"Free shares" are those ordinary shares which were issued by the Company to the former members of the Society whom it believed to have qualified under the terms of the Transfer Document issued in March 1997.
The Company may only treat free shares as unclaimed and capable of disposal if certain conditions under Article 164 of the Company's Articles of Association are satisfied. These conditions, in summary, are (i) that no satisfactory registration details have been received; (ii) at least three cash dividends have become payable on the unclaimed shares since October 1997; (iii) that notice of disposal has been given in an advertisement in at least two national newspapers; and (iv) that notice has been given to the London Stock Exchange that those persons entitled to unclaimed shares have not provided satisfactory evidence of their entitlement within three months after the giving of this Notice.
The first three conditions have now been met and accordingly, if you do not claim the free shares to which you are entitled, the Company may dispose of them after three months from today's date. In accordance with the terms of the Transfer Document, if you make a claim after disposal of the shares, you will, for a period of time, be able to claim from the Company a sum equivalent to the net proceeds of the disposal together with all dividends accrued before the date of the disposal.
The qualifying criteria for free shares can be found below. If you would like to make an enquiry you can write to Share Information Department, Northern Rock plc, Northern Rock House, Gosforth, Newcastle upon Tyne, NE3 4PL.
30 October 2000
Northern Rock plc - Registered in England under company number 3273685
Registered Office - Northern Rock House, Gosforth, Newcastle upon Tyne NE3 4PL
NORTHERN ROCK CONVERSION TO PLC STATUS QUALIFICATION CRITERIA FOR "FREE SHARES"
When it converted from a building society to a public limited company on 1 October 1997, Northern Rock gave 500 "free shares" to those members (savers and borrowers) of the building society who had met certain qualifying criteria.
The basic criteria were as follows:
Savers
- £50 held in one or more investment accounts at midnight on 2 April 1996; and
- £100 held in one or more investment accounts at midnight on 31 December 1996; and
- £1 held in one or more investment accounts at midnight on 22 August 1997 (the Final Qualifying Date).
- These balance requirements applied to the sole or first named on the investment account(s).
- The sole or first-named must have held one or more investment accounts (i.e. continuous membership of the Society) between 2 April 1996 and the Final Qualifying Date.
- At the Final Qualifying Date, the sole or first named member on the accounts(s) had to be resident in the UK or one of the Permitted Territories (i.e. Australia, Belgium, France, Germany, Holland, Hong Kong, South Africa, Spain and Switzerland).
Borrowers
- £1 held in one or more mortgage accounts at midnight on 2 April 1996; and
- £1 held in one or more mortgage accounts at midnight on 31 December 1996; and
- £1held in one or more mortgage accounts at midnight on 22 August 1997 (the Final Qualifying Date).
- These balance requirements applied to the sole or first named on the mortgage account(s).
- The mortgaged property must not have been in possession of Northern Rock Building Society prior to the Final Qualifying Date.
- At the Final Qualifying Date, the sole or first named member on the accounts(s) had to be resident in the UK or one of the Permitted Territories (i.e. Australia, Belgium, France, Germany, Holland, Hong Kong, South Africa, Spain and Switzerland)
Any former members of Northern Rock Building Society who believe they should have qualified for free shares based on the above criteria should write in the first instance to Share Information Department, Northern Rock plc, Northern Rock House, Gosforth, Newcastle upon Tyne, NE3 4PL.
- Northern Rock plc was formed on 1 January 2010. For its Half Year Results, please use the following link: Northern Rock plc: Half Year Results 2010
