Old Share Certificate

torrevieja

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

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.

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

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/

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.

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. 

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?

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 ?

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.

torrevieja

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

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