German translation: Nettoeinnahmen aus ruhenden Beteiligungen an Treuhandfonds
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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:
Net receipts from unclaimed shares trust
Nettoeinnahmen aus ruhenden Beteiligungen an Treuhandfonds
Reference information: dass unclaimes shares trust groß geschrieben werden sollte?
When Old Mutual became a publicly listed company in 1999, eligible Old Mutual policyholders were issued with free shares and recipients of those free shares were required to claim them.
Since demutualisation, some 98% of the shares have been claimed, and have benefited the original policyholders.
The remaining unclaimed free shares were held in an Unclaimed Shares Trust (UST), pending confirmation by those entitled to the shares. When the UST was closed at the end of August 2006, approximately 54 million shares remained unclaimed, despite significant efforts to trace the eligible policyholders.