lost share certificates? replacement charges

Si_Bish

hi, i am trying to replace 9 lost share certificates and am being stonewalled on the cost. I need a letter of indemnity for each hold ing and this needs to be countersigned by either a bank, insurance company or financial house. The share registrars have quoted a price per holding (pending value of shares) which seems a tad on the high side. I have contacted the high street banks where mostly, i may have been speaking russian and the ones that spoke russian didnt offer the service. Does anyone know where i can go that provide this service for a modest fee please?

xylophone

This question seems to have come up often on the forum- I notice that digerati 8.11.2007 made the following suggestion:

The Lost Shares problem comes up here on a regular basis. I'm surprised that registrars are still asking for a letter of indemnity as under UK company law, paper share certificates aren't legal proof of ownership, rather the registrar's records are deemed to be binding. In the absence of a transfer form and production of relevant share certificates, share holdings cannot normally be sold or transferred.

If the value of the lost shares exceeds the cost of the indemnity insurance then forget about it. You are still the owner of record and will receive dividends and other shareholder benefits. Also should this company ever be taken over or merged with another then you'll likely get new share certificates for free (it's happened to me many times and the old shares are usually rendered void).

Can you not ask your household insurer to provide a letter of indemnity? If the registrar refuses to replace your lost certificates, make a claim for the full amount under your household insurance for the current value of the lost share holding. Your insurer can claim ownership of the lost shares with the registrar.