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272M in Standard shares unclaimed

Over 235,000 Standard Life policyholders have yet to claim a total of almost 90 million shares following the company’s flotation.

At the closing price of 306p on January 2, these shares were worth 272m.

Standard Life is urging policyholders to come forward to claim their shares.

The shares are being held in the firm’s unclaimed asset trust and represent 4.2 per cent of the total shareholding in Standard Life.

It has also revealed that a total of just under 18m in cash has yet to be claimed by almost 20,000 former members. This cash is also being held in the UAT in a combination of sterling, euros and Canadian dollars.

Around 7,000 people are coming forward each month to claim shares and/or cash from the UAT. Anyone entitled to shares has until July 2016 to make a claim.

After that, the proceeds of the trust will be used for general corporate purposes, which may include donations to charity.

A spokesman says: “We are pleased people are continuing to come forward to claim their shares and cash. However, we would like the UAT to decline further in value. It is neither in the best interests of the individuals concerned nor of the company for these assets to be lying in trust.”

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