lost share certificate

Mar 27, 2008 2 Replies

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.

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 !

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