FUNDRAISING NEWS: BT's shareholders donate £700,000 via ShareGift drive

Shareholders have donated £700,000 worth of shares to charity after the de-merger of BT and its mobile subsidiary mm02.

When the companies de-merged they offered their shareholders the to opportunity to donate their shares to charity. The money was distributed by charity share donation scheme ShareGift and went to more then 100 charities including Unicef, Shelter, the National Autistic Society and Marie Curie.

ShareGift provides a charitable home for people's spare shares. It was established in 1996 by former investment manger Claire Mackintosh and stockbroker Matthew Orr to provide a solution to the problem of tiny donations of shares that are not cost-effective for charities or donors to sell.

Bridget Roe, charity director of ShareGift, said: "This is the largest sum we've had yet and it has generated a lot of corporate interest. Marks %26 Spencer has just contacted its shareholders and suggested that small holders donate shares to charity."

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