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.
