O2 Share Certificate

[Kos]

I have misplaced my O2 share certificate and when phoning the Telefonica takeover helpline was told that I would have to pay �50 for a replacement certificate. They know I've got the shares because they send me the letters.

What I am thinking though is that, as this is about to become a compulsory purchase, if I do nothing, surely Telefonica will compulsorily purchase my shares by default and have to pay me?

[dzug]

It's possible they will send you the money anyway, but I wouldn't bank on it.

It also may take a long time - they have to keep back money for late claims for quite a few years so you might not get paid to the end. 12 years is going round in my head but I can't remember where that came from.

You may find they will accept some form of indemnity - which is where most of the �50 goes. If you can find another form acceptable to them - well just maybe.

[Golden Shred]

The answer to your question is no, I'm afraid. If you read the paperwork you will see that payment is conditional upon handing in the shares - those that don't hand in share certificates will not get any money. Telefonica already have O2 and they don't have to purchase every last share that was issued. Again, in the paperwork you will find that all purchase of shares and loan notes ceases after 6 years.

[Kos]

She-ites! Does that mean though Golden Shred that I have 6 years to find my certificate? A ray of hope?

[Golden Shred]

Yes. You have up to six years. Whilst a small amount of interest is being paid on the Loan Notes there is no interest accruing to those who delay sending in the Share Certificates.