Replacing Lost Share Certificate

Idlelaura

I've stupidly lost a share certificate for shares worth about £1.5K. I've been advised by the registrars that it'll cost £40 admin fee + £54.82 Indemnity. Having no experience of this, just wanted to see if anyone else has a view on whether this is about the right amount to pay, or does anyone know where else I might try to obtain indemnity insurance (I undertand I'm stuck with the £40 admin charge as I have to go through the registrars).

sabretoothtigger

Insurance ? what for

Not sure you can avoid 'reasonable' charges. See the FSA

nomoneytoday

AFAIK the UK is scripless now, so you don't "need" a certificate

xylophone

nomoneytoday wrote: »

AFAIK the UK is scripless now, so you don't "need" a certificate

But if you are registered as holding the shares in certificated form rather than through a nominee you would need the cert(s)/ completed indemnity if you wanted to sell or transfer the holding?

With regard to the OP's question, the admin fee and indemnity is pretty standard?
http://www.capita.co.uk/investors/pages/shareholder-faqs.aspx#Lost_and_or_replacement_required
http://www.shareview.co.uk/helpcentre/Pages/faq9.aspx

Sceptic001

xylophone wrote: »

But if you are registered as holding the shares in certificated form rather than through a nominee you would need the cert(s)/ completed indemnity if you wanted to sell or transfer the holding?

Yes, you only need to produce the certificate if you want to sell/transfer the shares. If you are happy that you are the registered holder (for instance, if you receive dividends correctly) then there is no need to worry. You may get lucky and find that the company is sold or merges in which case a new certificate will automatically be issued to existing registered holders.

sabretoothtigger

Maybe they would do a scrip dividend and that would also cause the issue of a cert incidentally . The registrar is the only one who can issue a replacement hence the fees tend to be high and uncompetitive

Idlelaura

Thanks for all informative feedback. My issue is that I've got married and need to change my name on the certificate. I think my dividend's re-invested, so I suspect I probably won't need to do this until I want to sell - and I'm thinking now's not a great time to sell any shares that you've had for a years. The letter days that the insurance is to indemnify any costs that might be incurred by someone trading having found the certificate (which I know I've lost at home - or possibly destroyed in error during a clear-out).