Standard Life bonus share issue 5% not 10%

With reference to reports yesterday and this morning that the level of 'bonus' attaching to member/policyholder investors in Standard Life shares is 1 free share for every 20 shares held since listing on the London Stock Exchange on 10 July 2006.
This equates to a 5% bonus not a 10% bonus as reported.

The same investors did receive a 5% discount to the offer price of 230p on initial investment (maximum investment £50,000). That is they were able to take up the shares at a price of 218.5p.

So in effect they have had a 5% discount on the way in and a 5% bonus for retention over the first year.

Here are some details about the shareholder base as it stands at present:

Standard Life shareholder base

65% of Standard Life's total shareholding is held by retail shareholders and 35% by institutions.
Over 70% of members of The Standard Life Assurance Company kept their shares following the flotation of Standard Life plc.
Over 160,000 'members' of The Standard Life Assurance Company bought additional shares.
Over 100,000 'customers' bought discounted shares (ie these were policyholders who were not eligible 'with profit' investors).
Over 99% of shareholders are also customers.
Over 99% of employees own shares.