Disposal of <£10 worth shares without paying commission

paulmorg

Back in the days of the tech boom, I opened up a DLJDirect share trading account, and played around whilst they had a commission free trading period. The total amount of money wasn't much, and the free trading period ended meaning I was left with some seriously small investments (current value 0.41p - £10).

I have left the account alone, and a few years back DLJdirect were bought out by TDWaterhouse. They sent me forms to agree to the transfer etc. which I just ignored and didn't sign anything.

I now get regular statements from TD waterhouse showing my total investments of £40 odd. Worse still they have chosen to start imposing inactivity fees on the cash statement (which are now around £80).

I'm having a bit of a sort out at the moment and finally want to get this sorted. Before I ring them I was wondering if someone here could offer some advice:

Can I just surrender the shares, or am I going to have to pay them £15 to sell each of the small value shares? I beleive they are in a nominee account in my name.

Also, am I going to be able to avoid the inactivity fees since I never agreed to their T&C's?

Any advice would be much appreciated.

Fatboy_NSS

You need to check with the broker and see what they can do. It certainly wouldn't be worthwhile to sell them, but you might be able to donate them to charity.