Company Sharesave Matured - Certificate Issued - How to sell?

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  • Ifts
    Ifts Posts: 1,951 Forumite
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    Vini123 wrote: »
    How long does a transaction usually take to go through? And would the price be guaranteed by the company selected "broker"? (Perhaps as a perk to the higher % fee).

    The price will be displayed on screen (you usually have about 10 secs to accept the offer price), if you accept, that will be the price you will get.

    I'm still unclear about how I transfer my funds to x-o for example. Do I effectively give them ownership of my shares? What happens if they (x-o) go under?

    Open a Share Dealing account with X-O.co.uk - free to open and no annual account charges - then transfer your share certificates in to your account (to be safe send the shares in by registered post) and sell them for £5.95 per share holding.

    How do I transfer in stock that I hold in the form of certificates?

    http://www.x-o.co.uk/how_to_use.htm#5

    What markets can I deal in?

    http://www.x-o.co.uk/how_to_use.htm#11
    Never let the perfume of the premium overpower the odour of the risk
  • Vini123
    Vini123 Posts: 116 Forumite
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    Ifts wrote: »
    ...then transfer your share certificates in to your account (to be safe send the shares in by registered post)...

    This is what I don't understand. Am I transferring ownership of the X amount of shares I have? Or what? Could I lose out in anyway? For example if x-o go bust etc...?
  • xylophone
    xylophone Posts: 44,417 Forumite
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    I asked about that but I would have had to sell mine and re-buy within ISA wrapper.

    https://www.tddirectinvesting.co.uk/stocks-and-shares-isa/how-can-i-transfer-shares-into-my-isa

    The only exception to the rules regarding transferring shares into an ISA is if you have shares in a company Share Save/SAYE scheme.

    Shares released from these schemes can be transferred directly into an ISA as long as you request the transfer within 90 calendar days of the stock being released from the scheme
  • Ifts
    Ifts Posts: 1,951 Forumite
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    Vini123 wrote: »
    This is what I don't understand. Am I transferring ownership of the X amount of shares I have? Or what? Could I lose out in anyway? For example if x-o go bust etc...?

    The shares and cash are ring fenced in a client account, so can't be claimed as an asset of the company (as mentioned by bigadaj in post #6 above).

    And this is from the X-O 'Investor Protection' page (click on link to see more):
    In the unlikely event that Jarvis ceased trading for any reason, creditors would not have any claim on client assets, either cash or stocks....

    http://www.x-o.co.uk/investor-protection.htm
    Never let the perfume of the premium overpower the odour of the risk
  • Vini123
    Vini123 Posts: 116 Forumite
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    Thanks for everyone's help with this. I transferred my cert into x-o and performed my first deal earlier this week, withdrawing the cash equivalent of what I had personally put in (minus any interest that amount might have earned - though interest is negligible anyway)!

    I now have more than half the amount I've withdrawn left with X-O to "play the game".

    Thanks again!
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