Shareholder Accounts

Safe Or Scam has been advised by clients that shareholder accounts will be distributed shareholders this week. That will be a welcome development and long overdue. Shareholders will be looking forward to receiving them.

Martin Finch has advised our clients that copies of the shareholder accounts will be sent out by post rather than email. That is a very odd decision. Up until now nothing has been sent by post. All communications from Martin Finch and the oil companies have been delivered electronically. Even the Subscription Agreement was not sent by post.

It is even more surprising considering that the filing of company accounts with HMRC is now a completely electronic process. Accounts are completed and submitted online. When the ‘Submit’ button is pressed the accounts are finalised with HMRC and the filing reference number is automatically added to the document. It is a simple process to email that document to all shareholders in the same way that all the newsletters are emailed to shareholders. It is quick, cheap and efficient.

The copies sent by post will cost the oil companies several thousand pounds in postage. That is money that could have been paid out to shareholders. It’s an odd decision.

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