Are old shares valid and if so how would I sell them?

Saver1011

I was widowed 10 years ago, am now re-married and expecting my first baby, trying to save up for my maternity leave. My father-in-law from my first marriage, with this in mind, has now just told me that my first husband owned some shares which he says are now mine, which I had no idea existed.

There are 3 sets, one seems straightforward as Kingston Communications and I think I just have to transfer them into my name to sell them? I have probate, would I need anything else or is there anything other than that I would need to do?

The other 2 sets less straightforward as neither seem to be trading - Powergen and International Power. It seems both closed and shareholders were given a final offer price to sell their shares, some years back now.

Does anyone know if I would be entitled to receive these payments now? And if so, how would I go about claiming?

I would also quite like to know if I would be entitled to back payment of any dividends prior to the shares being de-listed if anyone knows?

Many thanks for any advice that can be provided. I have never bought/sold shares before, and have no idea how to go about that either if anyone can point me to a beginner's guide, as it were.

Caladan

Don't know a huge amount about share-dealing, but this thread seems similar:
https://forums.moneysavingexpert.com/discussion/22415

A few other Google searches suggest that if you contact the registrars (probably computershare) then you may be able to obtain value for the shares. Looks like everyone who held shares in Powergen should have received a cheque for the value, if you didn't presumably the money is still waiting to be claimed.

Don't know about Kingston, don't have time to look it up right now.

Hope it helps,
Cal

fozzeh

Saver1011 wrote: »

I was widowed 10 years ago, am now re-married and expecting my first baby, trying to save up for my maternity leave. My father-in-law from my first marriage, with this in mind, has now just told me that my first husband owned some shares which he says are now mine, which I had no idea existed.

There are 3 sets, one seems straightforward as Kingston Communications and I think I just have to transfer them into my name to sell them? I have probate, would I need anything else or is there anything other than that I would need to do?

The other 2 sets less straightforward as neither seem to be trading - Powergen and International Power. It seems both closed and shareholders were given a final offer price to sell their shares, some years back now.

Does anyone know if I would be entitled to receive these payments now? And if so, how would I go about claiming?

I would also quite like to know if I would be entitled to back payment of any dividends prior to the shares being de-listed if anyone knows?

Many thanks for any advice that can be provided. I have never bought/sold shares before, and have no idea how to go about that either if anyone can point me to a beginner's guide, as it were.

Firstly, you will need to copy of the Probate which you have. If you are named as the executor, then you should have no problems. If there isn't one, you will need a copy of the Will. Without those, the registrars will not issue a certificate into your name.

Kingston is now KCOM - https://www.google.co.uk/finance?q=LON%3AKCOM
If the cert says Kingston, you may need to get a reissue as they may have been consolidated since then. Do you still have the certificate? If so, it will save you reporting it lost then paying the admin + indemnity fee (ranges in price. Admin is usually £40 with indemnity anywhere from £20 to £200).

As for the takeover payments for what are now E.ON and GDF Suez; yes, payments would be due. When they go uncashed, you go onto what is a register who let them sit there for a while until someone contacts you, says you are entitled to the shares and take a fee (10-20%) for tracking you down. Info is here: http://www.unclaimedassets.co.uk/unclaimed_shares_and_dividends.htm

You have a year left to resolve the E.ON one (if the 12 year rule is correct). GDF about 11...communications from your late ex would be very helpful.

Dividends uncashed should also remain within the register and included in the total amount.

Hopefully, that should help (it's what I do for a living ). Companies house should have all the details or the relevant websites. Then it would be a case of ringing the registrars. They will then send you out a Deceased Estates Pack and Dissenters Application.

Saver1011

Thank you both very much, much appeciated