Original Share Certs.

D

Dman

Registered User
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71
Hi Folks,
I've brought shares through the on-line broker Sharewathc via one off transactions e.g. I don't have an account with them because I only buy shares now and then and figure I can't really justify the yearly account fee.
Few weeks after the transaction they post out the share certs to me.

I'm just wondering what would happen if I lost a share Cert? How could I then sell my shares e.g. prove ownership of them?

Actually even if I have my Share Cert how would I go about selling them?
Do I need to post in the Share Cert to e.g. Sharewatch and then once they recieve the cert I can sell the shares in the normal manner?
Would I just be better off opening an account with a on-line Broker?

As you can clearly see I'm new to this so any advise is much appericated.
 
HI Dman

As the legal position over non-certificate shares is unclear, I strongly recommend that people hold only paper share certificates.

If you lose, them you will have to apply for them to be reissued. You would need a letter from your bank and it would be a bit of hassle, so keep them safe.

If someone robs your house, it would be difficult for them to fraudulently sell the shares.

When you want to sell your shares, you can go to any stockbroker, open an account, and ask them to sell your shares for you. They probably won't sell the shares until you actually deliver them the paper certs.

Brendan
 
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