Shareholder registration form now available

One Eyed Snake
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Re: Shareholder registration form now available

Post by One Eyed Snake » Thu Jul 15 2010 11:39am

richard@imutual wrote: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
My question wasn't intended to be alarmist, but a genuine concern over our privacy being compromised.

Under section 116 of the 2006 Act, shareholders asking to inspect the register can do so free of charge. To refuse permission, the company must apply to the court within 5 days of the application, asking the court to agree the reason given is not a "proper purpose".

But anyone saying they want to inspect the register to (eg) contact the members regarding the running of the company/request a meeting etc would be giving a good enough reason!

(A single share gives the shareholder the same right of access as any other shareholder)
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richard@imutual
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Re: Shareholder registration form now available

Post by richard@imutual » Thu Jul 15 2010 3:04pm

As I say, it's the same as with any other PLC and there is no other way for us to do this. I don't believe there is cause for concern in practice but ultimately members don't have to complete the shareholder registration; they can content themselves with the cashback
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kevinchess1
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Re: Shareholder registration form now available

Post by kevinchess1 » Fri Jul 16 2010 10:49am

Is there a 'Cut off' date
IE if Shareholder don't register
they lose their shares
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colsey
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Re: Shareholder registration form now available

Post by colsey » Fri Jul 16 2010 6:42pm

I thought it was 3 months

I just checked my refs not one of them has signed up :roll:
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richard@imutual
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Re: Shareholder registration form now available

Post by richard@imutual » Fri Jul 16 2010 7:05pm

They will get reminders.

I wouldn't get too worried about the cut-off issue, we are just trying to ensure that referrals are genuine. It is in our interests for you to qualify for referral shares, because that means you'll be motivated to go out and tell even more people. That's the great thing about imutual; we are all on the same side :)

Here's hoping that all you imutual-ers have a great weekend!
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xxxraichxxx
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Re: Shareholder registration form now available

Post by xxxraichxxx » Mon Feb 07 2011 7:16pm

how do i get my referral link to tell people?
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Bruce
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Re: Shareholder registration form now available

Post by Bruce » Mon Feb 07 2011 7:17pm

xxxraichxxx wrote:how do i get my referral link to tell people?
http://www.imutual.co.uk/referrals
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xxxraichxxx
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Re: Shareholder registration form now available

Post by xxxraichxxx » Mon Feb 07 2011 7:28pm

Thanks
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