Shareholder registration form now available

[richard@imutual]

You'll be pleased to hear that imutual members can now complete their shareholder registration at http://www.imutual.co.uk/shareholder

Once you've done this and we've checked the information submitted, you will then receive a share certificate when we next undertake an update of our share register. At present, we intend to do this quarterly with the first certificates being issued in September.

We only plan to send updated certificates on a quarterly basis so that we can minimise the time we spend on administration, allowing us to focus on getting great cashback deals for you. But if we find that we are able to process them more quickly in future, we'll certainly consider doing so

[colsey]

It may sound like a funny question but is this form linked to our accounts? As when I look at the link I cant see any reference to my forum name/number.

Forgot say well done in uploading the document.

[One Eyed Snake]

Will this register be available to anyone to look at?

[kevinchess1]

Will we get Hard Copy or email?

[Bruce]

We only plan to send updated certificates on a quarterly basis so that we can minimise the time we spend on administration, allowing us to focus on getting great cashback deals for you. But if we find that we are able to process them more quickly in future, we'll certainly consider doing so

Is the certificate something that we download online/receive by email or will it actually be an official piece of paper that I can get my hands on?

Also, an excellent question from OES.

Edit: Seems like someone got there before me

[richard@imutual]

Will this register be available to anyone to look at?

Only as required by company law and for what the company considers a 'proper purpose'. e.g. NOT for commercial purposes

Is the certificate something that we download online/receive by email or will it actually be an official piece of paper that I can get my hands on?

It will be sent by email, but of course you are welcome to print it out!

imutual will do as many things electronically as company law permits, in order to keep overheads down and run a sleek operation

[One Eyed Snake]

Will this register be available to anyone to look at?

Only as required by company law and for what the company considers a 'proper purpose'. e.g. NOT for commercial purposes

If these shares are "proper" ones, then the law is that the register can be inspected by anyone. (Any shareholder can inspect it free of charge - (it seems anyone can become a shareholder) and non shareholders can inspect by paying a fee)

==========================================================================================================

As we will be the owners 0f 90%, are we protected should there be any liabilities in the future?

[blythburgh]

They are 'proper' ordinary shares, so your rights and liabilities are no different than if you held shares in another PLC e.g. BT, Lloyds TSB etc. In company law, shareholders in a limited company (be it public or private) are not liable for company debts

[One Eyed Snake]

In that case, any shareholder has the right to inspect the register of shareholders. (Anyone can become a shareholder, therefore it seems anyone can get our details) And apart from the usual concerns about privacy and the net, there seems to be at least one bad person who could want to get his revenge!

[blythburgh]

I think this is alarmist and will cause undue concern to any potential members reading it

The Companies Act 2006 includes provisions to ensure that this right is only exercised for proper purposes, such as requisitioning a meeting of members. This is a good thing for shareholders, as it gives you power over your company

If someone requests access to the register, we are entitled to ask for the requester's name and address, or if an organisation an individual's name, plus the purpose of the request and whether the information will be shared with anyone else and if so, to whom and for what purpose. It is a serious criminal offence to make a false statement when providing the details required for disclosure, or to misuse the information provided

If we are not satisfied that the access is being sought for a proper purpose, we can refuse to provide the information. Note that the information consists purely of your name and address and cannot be linked with your email address / forum posts etc

Try buying 1 share in LTSB and requesting access to their list of 2 million+ shareholders and see where that takes you