Cash point

Tesco yesterday launched a compensation scheme for an estimated 10,000 people duped by an accounting scandal.

The supermarket expects to hand back around £85million to investors who bought Tesco shares between August 29 and September 19, 2014.

That’s the time between the company issuing a trading update about its half-year results and when it admitted the information was wrong.

Private investors entitled to compensation will receive 24.5p per share, plus interest at 4%.

The average payout is estimated at £400. Shareholders need to make a claim between now and February 22 next year.

Investors can no longer go through a broker to lodge a claim and must do so directly through a claims “portal” that KMPG, which is administering the process, has put in place at www. tesco-scheme-kpmg.co.uk.

They can also fill in a postal claim form. Contact KPMG on 0808 164 6031 or write to KPMG LLP, PO Box 74451, London, E1W 9PB.