Selling share without certificate to hand

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Dodobdobodobo
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Selling share without certificate to hand

Post by Dodobdobodobo » Sat Oct 23, 2021 3:13 pm

I have one share and have decided to sell it. The problem is that I can’t find my share certificate. Has anyone else had the same problem? Has anyone contacted the club and asked them if they can proceed with the sale without supplying their certificate number?

Dodobdobodobo
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Re: Selling share without certificate to hand

Post by Dodobdobodobo » Sat Oct 23, 2021 3:26 pm

Found it thanks COYC

ClaretTony
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Re: Selling share without certificate to hand

Post by ClaretTony » Sat Oct 23, 2021 5:04 pm

Lucky because you can't sell without it. I know someone in this position and all requests asking how to go about getting a new one have been ignored.

ClaretPope
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Re: Selling share without certificate to hand

Post by ClaretPope » Sat Oct 23, 2021 5:06 pm

The Club says:
A certificate is required to confirm ownership and accept the offer. If a certificate has been lost, you will need to undergo a process with the Company by which legal ownership can be determined and confirmed, the lost certificate cancelled, and a replacement certificate issued. This typically involves an administrative fee and an indemnity for any loss or expense the Company may incur as a result of issuing a replacement certificate. While this process may take some time to complete, as long as the legal share owner has given notice of the decision to sell by the deadline for acceptance of the offer, that acceptance will be honoured despite the replacement process ultimately being completed after the deadline for acceptance of the offer.

IanMcL
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Re: Selling share without certificate to hand

Post by IanMcL » Mon Oct 25, 2021 12:52 am

Funny how the club know we own what but still we have to prove it!

Legal thing, I suspect.

Stalbansclaret
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Re: Selling share without certificate to hand

Post by Stalbansclaret » Mon Oct 25, 2021 8:16 am

I used to work for a high street bank and it was a common event for customers to need us to sign indemnities for lost share certificates, effectively vouching for them that this was the case. The bank takes on an element of risk on so doing in that the customer might be fibbing and then attempt to sell the shares twice but in this day and age with electronic share registers etc this is pretty minuscule and I’m sure anyone could get their bank to do the necessary.

ClaretTony
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Re: Selling share without certificate to hand

Post by ClaretTony » Mon Oct 25, 2021 3:06 pm

ClaretPope wrote:
Sat Oct 23, 2021 5:06 pm
The Club says:
you will need to undergo a process with the Company by which legal ownership can be determined and confirmed, the lost certificate cancelled, and a replacement certificate issued
Begs the question as to how you do that

timshorts
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Re: Selling share without certificate to hand

Post by timshorts » Mon Oct 25, 2021 7:18 pm

Usually with a statutory declaration with a built-in indemnity, confirming that you have lost it and not, for example, handed it to somebody as security for a debt, or charged it etc etc.

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