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Letter of indemnity guarantee for lost share certificate

  • 25-03-2014 11:44am
    #1
    Bizness
    Registered Users, Registered Users 2 Posts: 45 ✭


    Hello.
    Have a scrip dividend set up for an Irish company's dividends. Did not receive a share certificate (paper cert) for one of the year's dividends, for shares to the value of approx €400. Now Capita registrars are ripping me off for replacement share cert for the tune of €75 for replacement share cert + €25 letter of indemnity guarantee, so total €100.
    Capita in their letter say that 'you can make your own arrangements to have the indemnity form guaranteed by a suitably authorised bank, insurance company or guarantee society licensed to trade in Ireland'.
    However, the banks BOI and AIB do not do these guarantees anymore. My stockbroker neither.
    Just wondering if anyone has been able to get this letter of indemnity form guaranteed by someone other than the registrar Capita for any replacement share certs?

    I just think that this guarantee is a handy little scam for the Capita, as well as the banks pulling back on any non-profit services.

    Thanks


Comments

  • #2
    Sonnenblumen
    Registered Users, Registered Users 2 Posts: 5,834 ✭✭✭Sonnenblumen


    Bizness wrote: »
    Hello.
    Have a scrip dividend set up for an Irish company's dividends. Did not receive a share certificate (paper cert) for one of the year's dividends, for shares to the value of approx €400. Now Capita registrars are ripping me off for replacement share cert for the tune of €75 for replacement share cert + €25 letter of indemnity guarantee, so total €100.
    Capita in their letter say that 'you can make your own arrangements to have the indemnity form guaranteed by a suitably authorised bank, insurance company or guarantee society licensed to trade in Ireland'.
    However, the banks BOI and AIB do not do these guarantees anymore. My stockbroker neither.
    Just wondering if anyone has been able to get this letter of indemnity form guaranteed by someone other than the registrar Capita for any replacement share certs?

    I just think that this guarantee is a handy little scam for the Capita, as well as the banks pulling back on any non-profit services.

    Thanks

    I had a similar experience recently with Computershare, the Registrars for an ISEQ listed company. I contacted the Irish company directly (Investor Relations) they were very sympathetic and gave me the name of the key a/c manager within Computershare. Matter was quickly resolved to my satisfaction and without incurring any costs.


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