How can I sell old shares?
How can I sell old shares?
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DJClayworth · External communityPost link
External question — Personal Finance Stack Exchange
Author: DJClayworth
Original post: https://money.stackexchange.com/questions/169587
License: CC BY-SA 4.0 — https://creativecommons.org/licenses/by-sa/4.0/
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About 30 years ago, when I lived in the UK, I bought a small number of shares, valued at a few hundred pounds, in a UK insurance company. They have since regularly paid a small dividend. But it's time to sell them off, if only to simplify my life a bit and make sure that things don't get more complicated for my heirs if I should die still owning them.
Unfortunately I no longer have the certificates or any other proof of ownership (other than the fact that a dividend is paid into my UK bank account every year). I no longer live in the UK. I've had no communication with them since I left the UK, and they probably have my old UK address as their only contact.
What is the easiest way to a) establish my ownership of the shares b) sell the shares off? I'm interested primarily in simplicity and secondly to minimise the cost of the sale. I don't particularly care about minimizing tax if doing so would make the sale more complicated. The company still exists and I can of course contact them in a general way. Although I have a UK bank I don't have a UK broker or anything like one.
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littleadv · External communityPost link
External answer — Personal Finance Stack Exchange
Author: littleadv
Original post: https://money.stackexchange.com/a/169590
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If the dividends are being paid then the company is still in existence. If the company pays the dividends directly then you're listed as the shareholder with the company's secretary and you can reach out to their investor relationships department for guidance on how to reissue the certificates. You'll then need to find a brokerage who can facilitate a sale. It may be possible for the company to deposit your shares into a brokerage of your choosing instead of reissuing paper certificate, ask them.
If the dividends are paid through a brokerage then you can reach out to the brokerage for a sale transaction.
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Jeremy Boden · External communityPost link
External answer — Personal Finance Stack Exchange
Author: Jeremy Boden
Original post: https://money.stackexchange.com/a/169595
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Since you are receiving payments, then your bank will have the name of the sender plus some kind of payment reference. I suggest you address any enquiries to the company making these payments.
Because you are receiving payments in GBP, it seems likely that you are losing money, due to any exchange rate conversion fees.
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Quoted from Forex.com.bd-Editorial External question — Personal Finance Stack Exchange Author: DJClayworth Source score (net votes, not local likes): 21 Original post: https://money.stackexchange.com/questions/169587 License: CC BY-SA 4.0 — https://creativecommons.org/licenses/by-sa/4.0/ Adaptation: HTML converted to plain text; contact email addresses removed. About 30 years ago, when I lived in the UK, I bought a small number of shares, valued at a few hundred pounds, in a UK insurance company. They have since regularly paid a small dividend. But it's time to sell them off, if only to simplify my life a bit and make sure that things don't get more complicated for my heirs if I should die still owning them. Unfortunately I no longer have the certificates or any other proof of ownership (other than the fact that a dividend is paid into my UK bank account every year). I no longer live in the UK. I've had no communication with them since I left the UK, and they probably have my old UK address as their only contact. What is the easiest way to a) establish my ownership of the shares b) sell the shares off? I'm interested primarily in simplicity and secondly to minimise the cost of the sale. I don't particularly care about minimizing tax if doing so would make the sale more complicated. The company still exists and I can of course contact them in a general way. Although I have a UK bank I don't have a UK broker or anything like one.
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