# Friends Provident Foundation to gain £20 million in shares

- Link: https://fundraising.co.uk/2004/04/13/friends-provident-foundation-gain-20-million-shares/
- Published: 2004-04-13T23:00:00+01:00
- Author: Howard Lake

Friends Provident Charitable Foundation will receive up to £20 million of unclaimed
shares in July 2004, considerably expanding its grant-making capability.
The Foundation
was founded in 2001 when Friends Provident ceased being a mutual company. At first
it was the conduit for those policyholders choosing to donate their ‘free’ demutualisation
shares to charity. At the same time the company decided that any shares still unclaimed
would, after three years, be donated to the Foundation, up to a value of £20 million.
That three year period comes up in July 2004.

The foundation’s trustees have already commissioned a book on the ‘Right Use of 
Money’ featuring essays from business people, journalists, think tanks, politicians
and people with first-hand experience of poverty and homelessness. The foundation’s
grantmaking policies will however be announced at its formal launch in July 2004.

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