Selling share without certificate to hand
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Selling share without certificate to hand
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?
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Re: Selling share without certificate to hand
Found it thanks COYC
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Re: Selling share without certificate to hand
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.
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Re: Selling share without certificate to hand
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.
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.
Re: Selling share without certificate to hand
Funny how the club know we own what but still we have to prove it!
Legal thing, I suspect.
Legal thing, I suspect.
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Re: Selling share without certificate to hand
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.
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Re: Selling share without certificate to hand
Begs the question as to how you do thatClaretPope wrote: ↑Sat Oct 23, 2021 5:06 pmThe 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
Re: Selling share without certificate to hand
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.