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Tesco releases details of compensation scheme

23 August 2017 07:09

Tesco announced its compensation scheme opens today for eligible shareholders and bondholders.

The scheme was previously announced on 28 March 2017, when Tesco and Tesco Stores announced an agreement with the Financial Conduct Authority (FCA) to compensate investors who were net purchasers of Tesco shares or certain Tesco listed bonds between 29 August 2014 and 19 September 2014.

Each net purchaser of shares will be entitled to compensation of 24.5p per share purchased, plus interest at 1.25% per annum if the net purchaser is an institutional investor or 4% per annum if the net purchaser is a retail investor.

Tesco has appointed KPMG to administer the compensation scheme, with oversight from the FCA.

Claims can now be submitted through KPMG's online claims portal and KPMG will shortly write to all parties identified as eligible claimants.

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Related Company: TSCO

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