lost share certificate

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

Reply to
thedarkman
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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.

Reply to
Eric Jones

Eek, I thought i'd lost a Scottish Power one a couple of years ago, and I think the going rate was £30 for a replacement !

Reply to
Colin Wilson

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