shares confusion!

jellybubble

I have a few shares in an Irish oil company. There were penny shares many years ago but worth more now (eventually...) about £1000 I think.

My confusion is to do with where they are held and paper v electronic and potentially selling and transferring some to someone else and everything really!

The Company's registrars are Irish - http://www.capitaregistrars.ie/shareholder/

I have a paper certificate. There are now online options on the site - but I don't think I can transfer the shares to electronic though. When I look at FAQs on the site they seem to talk about paper methods really.

I cannot yet register to use for the online service for the company as I have not updated my address from I last moved. They say I need to update my address in writing first using a paper form as when I register online my user id would be sent to the address they already hold (my old address).

So step 1 update my address by post and with the right form.

But after that I have some questions.

1) Do I have to use these registrars for selling, transferring to someone else etc?

I wouldn't want to make many changes at the moment except transferring a third of the shares to a friend. This is because we clubbed together to buy them intially although they are solely in my name.

When I look at the registrars' FAQ tansferring shares is by paper form and post again rather than electonically. I guess this would result in paper shares?

Also - I may want to sell some in the future (not sure at the moment) but I wouldn't be making regular sales or anything or buying any more.

2) So do I have to stick with these registrars or could I (once I've updated my address ) put them into an online share dealing service or something? Can you do that for an Irish company via a UK service?

Although I can't register at the moment I can look at the online services held for the oil company (the online services available vary from company to company) at the registrars and 'transaction enquiries' but I don't know if that necessarily means sell. There isn't a buy/sell button. Certainly doesn't look like you can transfer them online.

Any help in me getting my head round this would be gratefully recieved!

jellybubble

I'm wondering if since I'm not intending to buy more shares and only sell them some once in a blue moon if paper is best?

Jake'sGran

As you have a paper certificate the rest seems straightforward to me. Just write to the registrars giving your new address. When that is done and confirmed contact them by phone or on line and say you want to sell.

You can first transfer the shares to another person easily too. I have transferred units in a fund in the past and it was easy. You can run off a transfer form from the Internet. Fill in all the details i.e. name and address of the person you wish to transfer them to and send it with the certificate to the registrars.

You can Google "share transfer certificate" to see what it looks like and then run it off.

When it is all sorted the new owner can ask a broker to take the certificate and transfer it to their nominee service.