"thedarkman" wrote in message
news:c4842c67-577a-4d86-9698-41f1712e7948@d21g2000prf.googlegroups.com...
> An acquaintance of mine has some shares he wants to sell before the
> end of the tax year but he has a problem. He can't find the
> certificate; he thinks he may have lost it when he moved house a
> couple of years ago but has no recollection of ever seeing it, and the
> Registrar has quoted him a ridiculous price, something like nine
> hundred quid, for replacing it.
>
> Is there a way around this? Personally I think it's just a scam
> because this is all done electronically now, and there is no question
> that he holds the shares because he was a company employee until he
> retired.
>
> Thanks
If your acquaintance has a paper share certificate then he needs that bit of
paper to trade or get a replacement.I don't know if this company is well
known and is a full member of the LSE but you are right in saying that £900
is way too high.
The normal charge for a PLC is around £25 - £60 for an indemnity, possibly
the same again for a bank or insurance company to countersign this
indemnity.
He is cutting it very fine time wise to deal this tax year as this process
can take some time.
|