Free shares bonanza losers

Irish Permanent has cancelled between 6.5 million and 7 million shares which have never been claimed by members who are entitled to them under the 1994 flotation. The company said it was unable to grant any further leeway beyond the September 21st deadline and has now cancelled any shares not claimed. Members were entitled to 300 free shares when the former building society floated on the Irish Stock Exchange. At current prices they would be worth around £1,800. Members who failed to claim their 300 free shares have also lost out on dividend payments and loyalty bonuses.