Alliance & Leicester/Santander shares - what's happening?

[crystaltipps]

I have some A&L shares, which I understand were converted to Santander shares a couple of months ago following the take over. In mid-November I got a really strange letter from Santander, which I didn't really understand. Can anyone explain to me what Santander are doing? Are they selling all my shares? I haven't heard anything further since the original letter (which my super tidy husband has helpfully shredded!).
Thanks for any help anyone can give.

[Rollo]

See this page:

http://www.alliance-leicester-group.co.uk/html /shareholder/shareholder_index.asp

I sduggest you ring them on the phone number given.

[dzug]

Santander are not selling any of your shares.

What they have done is made a rights issue to existing shareholders, including you. The 'right' was to purchase more Santander shares at a fixed price

They are selling your rights issue and will send you a cheque for the proceeds (if any) fairly soon.

Normally you get the choice betwen selling your rights and taking them up - but Spanish law made this impractical for UK shareholders

[gulliver1]

dzug, my sister has got 100 shares in Santander, they have sent a letter and a cheque for 26 pounds, does this mean she as sold her rights to buy anymore, and has she still got her 100 shares,