Deals offered on electricity shares

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The Independent Online
SHAREHOLDERS in regional electricity companies are being offered special deals, enabling them to sell their shares before they have to pay the final instalment of 70 pence per share next month or to find an easier way of making the payment.

The Share Centre's 'Keep or Sell' service allows shareholders to borrow money to pay the instalment. The centre then sells as many shares as necessary to cover the instalment for a flat fee of pounds 15 per company plus interest for 40 days at base rate plus 3 per cent - currently a total of 13 per cent.

Shareholders who wish to sell all their shares should wait for their Number 5 certificate to arrive and sign it on the reverse before 3 September. The Share Centre charges a minimum of pounds 10.

The Norwich and Peterborough has also put together a special package for electricity shares, recognising that people may wish to sell the shares before the final instalment is due. Between 18 August and 4 September, it will be charging a reduced minimum commission of pounds 15 per deal.

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