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When The Standard Life Assurance Company (SLAC) demutualised on 10 July 2006, its Eligible Members were entitled to shares in Standard Life plc. Some of these shares still haven’t been claimed. If you think you may be eligible for demutualisation shares that you haven’t yet claimed, this information could help.

Am I eligible for demutualisation shares?
Generally speaking, you were an Eligible Member if, when SLAC demutualised on 10 July 2006 you were the Member for a policy which started on or before 30 March 2004 and which was continuously invested in with profits with SLAC from 30 March 2004 up to 31 May 2006 – the date of the Special General Meeting (both dates inclusive).

30 March 2004 is an important date for eligibility because it was the last day before it was announced that the board of SLAC was satisfied that, in principle, proceeding towards demutualisation was in the best interests of the company and its policyholders.

As part of this announcement, SLAC also stated its policy that anyone making a with profits investment on or after 31 March 2004 would not be eligible to receive any benefits relating to demutualisation of SLAC for a three year period from the date the application relating to that investment was received by the company. This was to preserve and maximise the value of the company for people who were Members for policies invested in with profits before the decision in principle to proceed towards demutualisation and flotation was announced.

The reason that having a with profits investment is so important is that only Members for a policy invested in with profits generally had a right to vote at general meetings and had the potential to share in any surplus on a winding-up of the company.