General FAQ

Here you’ll find answers to commonly asked questions about the claim process.

Who are ProSearch?

ProSearch operates Asset Reunification programmes on behalf of many of the UK's best known companies to reunite unclaimed assets with their rightful owners. We have over 30 years experience in the provision of Asset Reunification solutions to help eligible shareholders claim their entitlements and reunite them with their lost assets.

 

How can I trust that this is legitimate?

ProSearch are fully authorised by the company to contact and assist their shareholders who have outstanding entitlements.

These can range from unclaimed dividends and lost shares, to proceeds which are due following a corporate action such as a takeover. We are registered at Companies House and with the Information Commissioner's Office (ICO) in relation to Data Protection. Additionally, we adhere to a full disclosure procedure, so customers are always advised as to which company investment this relates and does not make any up front charges; all fees are taken from the recovered entitlements.

You will see that we have web links to a number of our clients confirming that we have been appointed to run asset reunification programs on their behalf. (Click here)

If you have any concerns or require any further information then please contact us.

Why have you contacted me?

Lost shareholders have generally either forgotten they own the shares or have become disconnected from their assets. Companies are committed to their shareholders to make every effort to return unclaimed entitlements so use ProSearch to maximise the number of lost shareholders who can be traced, thereby maximising the value of entitlements we can return to shareholders, their dependants, descendants or any other named beneficiary who would be entitled.

The company may have lost contact with a shareholder or an asset may become 'lost' for a number of reasons, including:

  • shareholders not notifying the Registrar or the Company of a change of address;
  • beneficiaries or executors of an estate not being aware of the shareholding; and
  • shareholders who simply forget about or are uncertain about their shareholdings.

How do shareholdings/accounts become dormant?

When companies mail dividends to shareholders, some of the cheques do not get cashed. This is normally because the shareholder no longer lives at the address that they have on the register for them. Once records show that consecutive dividends have been sent, and remain uncashed, the shareholder is considered ‘gone away’ from the address on the share register. As a security measure, all mail can be suspended until the shareholder gets in touch with the Registrar or company.

I did not live at or have any connection with the current or registered address on the Claim Form?

Do not complete the form if you did not reside at, or use, the address(es) shown on the Claim Form.

If you have any concerns or require any further information then please contact us.

What are my options?

We advise to take action and claim your entitlement as soon as possible. If you take no action at all, you will not receive entitlements and where no contact has been made assets may ultimately be forfeited by the company for general corporate purposes, including charitable giving.

ProSearch has designed a voluntary service that provides an easy way of claiming your entitlement and updating your details which commences with you signing and returning the Claim Form.

Alternatively, you can make your own arrangements to recover this entitlement from the Registrar for the Company. Please note that you may incur administration charges from the Registrar to reissue these payments.

 

I’m not sure if I can get the Claim Form back to you by the deadline date shown.

It is advisable that you claim your entitlement as quickly as possible as after a period of time you may no longer be able to claim your assets.

We understand their are occasions where extensions to the deadline date showing on the Claim Form is required.

If you have any concerns or require any further information then please contact us and we will be able to advise if this is possible.

 

Why have you written to a member of my family or neighbour?

​As part of our work, from time to time we need to make contact with people or organisations who we consider may have valuable information that may assist us in tracking down the person that we are looking for. Neighbours often keep in contact with each other and can help us with our search. We do not give out any information other than your last known address.

Why do you charge an administration fee?

The company appointing ProSearch have agreed and authorised us to charge a reasonable administration fee for the research and processing work we have to carry out to assist investors to recover their entitlements.

The fee is set at a level that enables ProSearch to cover its costs whilst allowing all investors the opportunity to participate, irrespective of the size of their entitlement. The charges of a fee cover the work involved including data subject analysis, mailings, identity confirmation, validation against a number of reference sites, claim processing and free support through our UK freephone number helpline.

Details of the applicable fee you will be charged can be found within the Claim Form you should have received.

 

Who can the settlement cheque of the proceeds be made payable to?

The cheque will be made payable to the first named holder and sent to the address at the current address at the top of the Claim Form. The only exception to this is in the case of the holder being deceased. If the investor is deceased, we will pay the settlement cheque in the name of the first named Executor/Legal Representative named on the Grant of Probate/Administration.

I have lost contact with the other joint shareholder/legal representatives?

​For legal reasons we require the signatures of all joint shareholders or executors. Please contact us if you think this is not going to be possible.

Can you pay the settlement into my bank/building society account?

The settlement can only be issued by cheque in pound sterling. We cannot action or respond to any requests to pay proceeds to a bank/building society account.

Are there any tax consequences?

Depending on the action you take, there may be tax consequences. Prosearch does not provide investment or financial advice so if you are in any doubt of what action to take you should seek independent financial advice.