Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Old Share Certificate

Options
  • 23-04-2024 1:37am
    #1
    torrevieja
    Registered Users Posts: 1,662 ✭✭✭


    I have shares in a Company which is the old fashioned Share Certificate, and my stock broking firm are not in business anymore, whats best way to sell these old shares now thanks



Comments

  • Options
    #2
    Peregrinus
    Registered Users Posts: 26,165 ✭✭✭✭Peregrinus


    Assuming its a listed company (and it still exists, and the share certificate is still valid, etc) any stockbroker can do it for you.



  • Options
    #3
    torrevieja
    Registered Users Posts: 1,662 ✭✭✭torrevieja


    yes bank of ireland shares , but apparently u have to sign up with a firm and theres a yearly charge if im not wrong



  • Options
    #4
    coylemj
    Registered Users Posts: 25,359 ✭✭✭✭coylemj


    Ring a local company like Davy and ask them. Emphasise that it's a one-off, there shouldn't be any annual fees. But if the holding value is very small, it simply may not be worth anybody's while to process the sale of them.

    On a similar topic…. AIB shareholders saw their holdings severelly diluted by the issuing of new shares to the Govt. for the bailout and a lot of people ended up with holdings that were worth only a few Euros. There's talk of a scheme whereby AIB may buy them out to literally get them off the books, it needs to be approved at the next AGM in May.

    I have an idea that BoI shareholders were not as badly hit so it's possible that there will never be a similar scheme for them.

    The AIB situation was discussed a few days ago by personal finance editor Dominic Coyle in the IT here….

    https://www.irishtimes.com/your-money/2024/04/21/reader-query-aib-shareholder-worries-his-holding-may-be-too-small-for-share-buyback/



  • Options
    #5
    Peregrinus
    Registered Users Posts: 26,165 ✭✭✭✭Peregrinus


    https://www.boards.ie/discussion/comment/122052596#Comment_122052596

    If you're selling the shares you can close your account as soon as the transaction has gone through, so I don't think you should be exposed to a yearly charge.



  • Options
    #6
    torrevieja
    Registered Users Posts: 1,662 ✭✭✭torrevieja


    https://www.boards.ie/discussion/comment/122053316#Comment_122053316

     Davy : Please be advised, there is a lodgement fee of €98.40 for any certificate valued under €20,000. 



  • Advertisement
  • Options
    #7
    Peregrinus
    Registered Users Posts: 26,165 ✭✭✭✭Peregrinus


    https://www.boards.ie/discussion/comment/122055574#Comment_122055574

    And have you a feel for what the Bank shares represented by your certificate would be worth?



  • Options
    #8
    torrevieja
    Registered Users Posts: 1,662 ✭✭✭torrevieja


    BANK OF IRELAND GROUP (BIRG)
    ORDINARY SHARES OF EUR 1.00

    84

    EUR €10.26  25/04/2024

    £738.94


    The commissions related to the Personal Investment Account are as follows:

    Online trading: 0.5% on all shares and ETFs (min commission charge is €14.99)

    If you place the trade over the telephone, then the telephone rates apply:

    Per transaction on first €15,000.00           1.65% 

    on Next €15,000.00                                         1.00%

    on Balance                                                          0.50%

    Subject to minimum charge of €100.00

    Execution Service Fee of €50.00 (Per quarter or part thereof, charged in the month following each calendar quarter end. The fee will be reduced or waived in its entirety by the amount of commissions paid in the quarter)

    Overseas fee applies of approx. 25 euro to trade outside Ireland or UK

    Please note that a minimum of €500 must be lodged to the web account before trading can commence.

    There is a charge of €80 +VAT to lodge share certificates on an account which are under 20k in value.

    Can someone explain to a lay person what this means please ?



  • Options
    #9
    coylemj
    Registered Users Posts: 25,359 ✭✭✭✭coylemj


    There is a charge of €80 +VAT to lodge share certificates on an account which are under 20k in value.

    Can someone explain to a lay person what this means please ?

    If you have a hardcopy (a piece of paper) share cert. and the shares are worth less than 20K, they will charge you €80 + VAT (€98.40 inclusive, as you quoted in post #6) to lodge it to your share dealing account.

    They probably take the view that someone lodging shares that are worth less than 20K will probably want to sell and run. And for commission of no more than €330 (1.65% of 20,000), they figure it's not worth the administration.

    As you will be a new customer of a financial institution, they will have to go through all of the usual anti-money laundering authentication/security checks for what they reckon will be a single (sell) transaction. Not worth the hassle, they don't want that business.



  • Options
    #10
    torrevieja
    Registered Users Posts: 1,662 ✭✭✭torrevieja


    https://www.boards.ie/discussion/comment/122062773#Comment_122062773

    Think ill Wait for Bank of Ireland to Copy, Aib , PTSB

    Post edited by torrevieja on


  • Options
    #11
    torrevieja
    Registered Users Posts: 1,662 ✭✭✭torrevieja


    Any update on whether Bank of Ireland might copy Aib or Ptsb in buying shares?



  • Advertisement
  • Options
    #12
    Peregrinus
    Registered Users Posts: 26,165 ✭✭✭✭Peregrinus


    BoI has a share buyback programme running right now. It began on 27 February and will continue until 18 December, or until they have spent €520 million buying back shares, whichever happens first.

    It operates by Bank simply going into the market and buying shares. Specifically, Bank is buying its own shares on Euronext, which includes what used to be the Irish Stock Exchange. If you want your shares to be bought back, you'll have to offer them for sale on Euronext, which means putting them in the hands of a broker. Bank won't at the moment buy them back from you directly.

    AIB and PTSB are running "odd lot" buyback schemes in which they will buy small holdings from individual shareholders directly. The aim here is to tidy up their share register. 90% of AIB shareholders hold 20 or fewer shares, and between them all they represent just 0.01% of AIB's capital. Figures for PTSB are comparable. I don't know whether Bank has the same issue.



  • Options
    #13
    coylemj
    Registered Users Posts: 25,359 ✭✭✭✭coylemj


    https://www.boards.ie/discussion/comment/122114473#Comment_122114473

    Your best bet is to keep an eye on BoI stock exchange announcements. Click on 'stock exchange announcements' at the link (BoI logo) below. Most of the recent announcements are about ther current share buyback - discussed by Peregrinus above and which do not involve small shareholdings.

    https://investorrelations.bankofireland.com/

    You can see the AIB announcement about their 'odd-lot' buyback here, it's coupled with the announcement of the AGM, dated April 3rd

    https://aib.ie/investorrelations/stock-exchange-announcements/2024

    If BoI decide go the same route, it will need to be approved at the AGM so it's not going to happen tomorrow. And note that, per the motion approved at their AGM on May 2nd last, the AIB offer will be to buy holdings of 20 shares or less. At today's AIB share price of 4.936, that means the people who will be offered the buyback are currently holding shares worth no more than €100.



  • Options
    #14
    Ronney
    Registered Users Posts: 840 ✭✭✭Ronney


    Sort of based on the above, I have a few shares in both BOI and AIB. Hve moved house and lost all the relative Paperwork. Any idea how I go about regaining this info. Would be looking to Sell the AIB in a buy back to offset the capital loss.



  • Options
    #15
    coylemj
    Registered Users Posts: 25,359 ✭✭✭✭coylemj


    https://www.boards.ie/discussion/comment/122115941#Comment_122115941

    Every plc has an investor relations webpage where you can get contact details for help with share registration.



  • Options
    #16
    sk8board
    Registered Users Posts: 3,229 ✭✭✭sk8board


    BOI list the number of shareholders in their annual financials - at the end of 2019 it was 96,000, and at the end of 2023 it was 80,000, and like AIB a huge proportion of those had holdings under €500.

    Retail investors now own 10% of outstanding shares, down from 15%, and this years much larger €500m buyback will hoover up more and is ongoing as we speak every single day (and had been for a few months).

    IMG_6037.png



  • Options
    #17
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,056 Mod ✭✭✭✭Jim2007


    https://www.boards.ie/discussion/comment/122115941#Comment_122115941

    It depends a lot on how you acquired the shares in the first place:

    • If you bought the shares and received the physical share certificates - unusual these days, then you could contact the bank's investor relations team and discuss their requirements to issue replacement certificates.
    • If you bought the shares through one of the discount brokers or did not request share certificates, then you need to contact the broker to see what steps are needed for you to obtain the certificates. Very often such shares are held in nominee accounts so you need to work with the broker to get certificates issued your name



Advertisement