Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
  • FIRST POST
    • Vini123
    • By Vini123 28th Sep 17, 2:26 PM
    • 108Posts
    • 214Thanks
    Vini123
    Company Sharesave Matured - Certificate Issued - How to sell?
    • #1
    • 28th Sep 17, 2:26 PM
    Company Sharesave Matured - Certificate Issued - How to sell? 28th Sep 17 at 2:26 PM
    My 3 year company share-save scheme has recently matured and I chose to convert to shares. Upon doing so I received a Share Certificate.

    I own, X amount of "Ordinary Shares of 1p each fully paid".

    We have a nominated share registrar that takes 1.5% (SignalShares). Yesterday our shares made a nice rise, however, SignalShares "snapshot" was from lunchtime, and didn't recognise this increase.

    I'm not looking for live buying and selling, but I am wondering if I am tied into SignalShares, or if there is a better option of holding/selling my shares, perhaps with a lower transaction fee?

    I did a quick search and a thread from 2012 seemed to suggest you can "sell" your certificate and trade the shares in a slightly different manner, with some companies who (back in 2012) has fixed rates etc???

    Am I better to just stay put, or do I have options?

    Many thanks,
    James
Page 1
    • MallyGirl
    • By MallyGirl 28th Sep 17, 3:00 PM
    • 2,102 Posts
    • 6,975 Thanks
    MallyGirl
    • #2
    • 28th Sep 17, 3:00 PM
    • #2
    • 28th Sep 17, 3:00 PM
    no you are not tied to Signal shares - 1.5% is a ripoff. I had the same when my first lot matured - equiniti wanted a similar amount.

    You can sign up with a cheap online dealer - I used x-o and they charged £5.95 per sale back then. Once you signup they tell you how to transfer your paper certificate into their online system. Once it is in there you can sell online and then transfer the proceeds into your bank account.
    • Anonymous101
    • By Anonymous101 28th Sep 17, 3:23 PM
    • 1,022 Posts
    • 384 Thanks
    Anonymous101
    • #3
    • 28th Sep 17, 3:23 PM
    • #3
    • 28th Sep 17, 3:23 PM
    I'm in my company scheme which matures next year. I have recently inquired as to if I can deposit these into my S&S ISA.
    Perhaps it would be worth you asking is you have one?
    • Vini123
    • By Vini123 28th Sep 17, 3:46 PM
    • 108 Posts
    • 214 Thanks
    Vini123
    • #4
    • 28th Sep 17, 3:46 PM
    • #4
    • 28th Sep 17, 3:46 PM
    x-o is one I'd read about in the thread from 2012... how does it work? Do you effectively transfer ownership of the shares to them?? How safe is it? What if they go under?

    I'm not normally overly cautious, but equally I'm not at all familiar with share dealing.

    Not too bothered about dumping into a S&S that I do have.
    • MallyGirl
    • By MallyGirl 28th Sep 17, 3:46 PM
    • 2,102 Posts
    • 6,975 Thanks
    MallyGirl
    • #5
    • 28th Sep 17, 3:46 PM
    • #5
    • 28th Sep 17, 3:46 PM
    I asked about that but I would have had to sell mine and re-buy within ISA wrapper. However I didn't want that much money tied up in a single company share anyway so it wasn't an issue for me
    • bigadaj
    • By bigadaj 28th Sep 17, 6:12 PM
    • 10,803 Posts
    • 7,100 Thanks
    bigadaj
    • #6
    • 28th Sep 17, 6:12 PM
    • #6
    • 28th Sep 17, 6:12 PM
    x-o is one I'd read about in the thread from 2012... how does it work? Do you effectively transfer ownership of the shares to them?? How safe is it? What if they go under?

    I'm not normally overly cautious, but equally I'm not at all familiar with share dealing.

    Not too bothered about dumping into a S&S that I do have.
    Originally posted by Vini123
    The shares and cash are ring fenced in a client account, so can't be claimed as an asset of the company.

    What are your plans for the shares, most would say that if you have shares in your employer that have vested then selling would be wise, potentially putting that cash into diversified funds, far lower risk. If you keep shares and they go bust you lose your job and the shares.

    How much are the current shares valued at, a consideration for selling is capital gains which you have a tax free allowance of £11k a year.
    • Alexland
    • By Alexland 28th Sep 17, 10:01 PM
    • 793 Posts
    • 493 Thanks
    Alexland
    • #7
    • 28th Sep 17, 10:01 PM
    • #7
    • 28th Sep 17, 10:01 PM
    I would definitely sell them at the first opportunity to diversify. Would you have bought them in that exact quantity a to hold if they hadn't been discounted?
    • Vini123
    • By Vini123 4th Oct 17, 11:14 AM
    • 108 Posts
    • 214 Thanks
    Vini123
    • #8
    • 4th Oct 17, 11:14 AM
    • #8
    • 4th Oct 17, 11:14 AM
    Bought at 2.50, have been as high as 6.75 (recently too), but recently took a hit and have been trading at around 4.75 since the half year results. Never been lower than 4 in my time at the company, so happy to hold for now.

    The plan was to take out the equivalent of the £ I initially invested and let the rest ride the rollercoaster. I will probably look to do this if the shares hit 5.00 again, but I found with the recent increase in the price, that SignalShares never tracked the daily rate, so the "short rise" was never available to cash out on! Hence why I'm looking for a bit of a better dealer!

    I think I fall just under capital gains marker. Is it £11k in profit? (as in clearing £11k on top of the initial investment?)
    • MallyGirl
    • By MallyGirl 4th Oct 17, 11:24 AM
    • 2,102 Posts
    • 6,975 Thanks
    MallyGirl
    • #9
    • 4th Oct 17, 11:24 AM
    • #9
    • 4th Oct 17, 11:24 AM
    yes it is based on profit - difference between what you paid for them and what you sell them for. You can also take the selling fees off the profit but if you choose the right dealer that won't be very much.
    • greatkingrat
    • By greatkingrat 4th Oct 17, 4:30 PM
    • 69 Posts
    • 74 Thanks
    greatkingrat
    Bought at 2.50, have been as high as 6.75 (recently too), but recently took a hit and have been trading at around 4.75 since the half year results. Never been lower than 4 in my time at the company, so happy to hold for now.

    The plan was to take out the equivalent of the £ I initially invested and let the rest ride the rollercoaster. I will probably look to do this if the shares hit 5.00 again, but I found with the recent increase in the price, that SignalShares never tracked the daily rate, so the "short rise" was never available to cash out on! Hence why I'm looking for a bit of a better dealer!

    I think I fall just under capital gains marker. Is it £11k in profit? (as in clearing £11k on top of the initial investment?)
    Originally posted by Vini123
    Any price you see on a share dealing website is only a guide. Whether they update their prices daily, hourly or every minute has no impact on the price you will get if you actually sell some shares as the price will have changed again by the time the transaction goes through.
    • Vini123
    • By Vini123 12th Oct 17, 7:56 PM
    • 108 Posts
    • 214 Thanks
    Vini123
    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).

    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?
    • Ifts
    • By Ifts 12th Oct 17, 8:22 PM
    • 1,762 Posts
    • 1,095 Thanks
    Ifts
    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).
    Originally posted by Vini123
    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
    • By Vini123 12th Oct 17, 8:48 PM
    • 108 Posts
    • 214 Thanks
    Vini123
    ...then transfer your share certificates in to your account (to be safe send the shares in by registered post)...
    Originally posted by Ifts
    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
    • By xylophone 13th Oct 17, 12:04 AM
    • 23,688 Posts
    • 13,809 Thanks
    xylophone
    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
    • By Ifts 13th Oct 17, 2:04 AM
    • 1,762 Posts
    • 1,095 Thanks
    Ifts
    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...?
    Originally posted by Vini123
    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
    • By Vini123 27th Oct 17, 11:51 AM
    • 108 Posts
    • 214 Thanks
    Vini123
    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!
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

2,844Posts Today

7,967Users online

Martin's Twitter