Standard Life is amazed at the number of shareholders who have not claimed their free shares. Shareholders have been mailed several times during the last year and Standard Life has now hired a team who specialise in tracking people.
If the shares remain unclaimed, then after ten years the board of directors decide what should happen to the money. This includes the possibility of making a donation to charity.
Our view
Unclaimed assets should be used to fund better financial awareness and education, they should not just be gifted to charities.