Royal Mail Shares

mcscoty1973

Hi Pearl.

Yout got through at last which is good, but I guess you are in the same boat as a lot of us.

I can't be sure about what the woman you spoke to said, but I was told that I can transfer them back to the nominee account free of charge, and they would send me out a form, this might be the cheapest option, but please wait until other more experienced people respond.

The below was taken from thisismoney.co.uk

"

The idea of holding a share certificate will prove costly. When it comes to selling any shares, Equiniti charges 1.5 per cent of their value, at a minimum of £45, for conducting the sale if a certificate has been issued. So if you had £10,000 of shares then the selling cost would rise to £150. If you have lost your certificate there will be a £42 replacement charge.

Read more: http://www.thisismoney.co.uk/money/investing/article-2446479/Its-robbery-Royal-Mail-share-buyers-face-big-choose-sell-Governments-dedicated-website.html#ixzz2hy8pGD9L
Follow us: @MailOnline on Twitter | DailyMail on Facebook"

pearl123 wrote: »

I spoke to a lady at equniti and she wasn't really that helpful. She said that I could sell online using a certificate and that it 'would only cost pennies more'! But she could not say how much more.
And she told me I didn't need a nominee form.

Anyway, since a lot on here have requested a nominee form I insisted one was sent.

pearl123

mcscoty1973 wrote: »

Hi Pearl.

The idea of holding a share certificate will prove costly. When it comes to selling any shares, Equiniti charges 1.5 per cent of their value, at a minimum of £45, for conducting the sale if a certificate has been issued. So if you had £10,000 of shares then the selling cost would rise to £150. If you have lost your certificate there will be a £42 replacement charge.

Read more: http://www.thisismoney.co.uk/money/investing/article-2446479/Its-robbery-Royal-Mail-share-buyers-face-big-choose-sell-Governments-dedicated-website.html#ixzz2hy8pGD9L

Follow us: @MailOnline on Twitter | DailyMail on Facebook"

Thank you. That was the answer I needed. I've would have been completely lost without these forums.

mcscoty1973

As I said, maybe someone with more experience can also comment to confirm if my thinking is right.

I am not sure if Equiniti are offering a discount option to dispose of share certificates or not, but I think the lady you spoke to doesn't know what she is talking about, and it looks likely to cost you a lot more than a few pence more!!

Anyone else thinking that the wording of the application was by no means an accident but rather a deliberate attempt to confuse people on order for Equiniti to make more money?

pearl123 wrote: »

Thank you. That was the answer I needed. I've would have been completely lost without these forums.

PaulThompson

Ologhai wrote: »

Assuming that everything you say is correct, was any of it not published in the prospectus or T&Cs?

If any of it was missing, there may be cause for concern, but if potential investors didn't like what was actually published about the deal, then they should've looked elsewhere for the chance of a fast buck.

This was not clear in any way when signing up. If you didn't buy some Royal Mail shares, perhaps you should find another thread to start moralising about people's financial choices.

mcscoty1973

On a postive note for a change, I now have my full refund of the exess funds paid into my bank account, so others should check to see if the funds (if any) have been refunded in your own bank account.

Ologhai

PaulThompson wrote: »

This was not clear in any way when signing up. If you didn't buy some Royal Mail shares, perhaps you should find another thread to start moralising about people's financial choices.

This? Which particular 'this' are you saying was not 'clear in any way' when signing up?

If I did buy RM shares, does that mean I can stay in this thread and keep 'moralising'?

Spacefraggle

Share dealing doesn't come with consumer rights like other products - it's risky, and for those who understand it, not for people who don't understand it. The protection comes at the front end - every webpage has reams of disclaimers, which basically say "if you don't what you are doing, get advice before you proceed" and "there are risks, by proceeding, you acknowledge you understand them".

Also, the terms and conditions are written by professionals and checked by lawyers, and as far as I can see, these terms have been adhered to.

If you had done your research, you would have bought through a broker and sold in conditional trading on Friday or Monday (HL meltdown allowing). You would have read the prospectus. If you didn't, don't complain about it.

I bought last minute on Tuesday, I didn't read the prospectus fully, but I read this forum, and I checked carefully what the tick boxes said. I sold Tuesday, once I got my email, and I'm very happy with the profit I made. Where things didn't go as I expected, I recognised this was my fault for not researching/reading enough.

There might be a case for a petition on the undervaluing of the shares - I think the sale should have been cancelled once it was clear how much higher the price was likely to go. But there's no case to answer if you got an email on Wednesday, or chose a share certificate - the information was there, and it is assumed you have read and understood everything - unlike other products where it is assumed idiots are buying stuff, so need more protection.

Bring on the trolls...:cool:

gevans35

We're also getting certificates although I wanted nominee. Two separate applications, both filled out by me, so if I made a mistake I made it twice.

I've spoken to various people at Equiniti and they all say different things but this is what I think is correct.

1, You can't sell certificated shares over the automated line although two Equiniti people told me you can.

2, You need to request and fill out a "Form D" and return the certificate with it to transfer certificated shares to nominee. This will take about ten days.

3. If you sell certificated shares online or by phone it will cost £45 or £50 minimum and you need to send the certificate back with the Crest form that will be sent.

We are going to be out of the country for two months from early next week so if we sell the certificated shares we will not be here to send back the certificate and Crest form, which would trigger a share buyback. Nightmare!

I think our best bet is to use another broker like X-O where you can download the Crest form and. assuming we receive the certificates before we leave, send the certificates to them to be placed in a nominee account that we can trade online.

mcscoty1973

Fraggle.

I am one of the unfortunate people who did not read the tick box text fully and it is my mistake so I hold my hands up.

I do however feel that the text was deliberately misleading as it started by saying your shares will be held in a nominee account.... that is all I read so I thought I was making the correct choice, done in a rush. I never noticed the last bit that says if you want a cert click here.

I think it has been done in the hope of cashing in on peoples mistake, and I am pretty sure that the advertising standards agency or such would agree that it is misleading.

Spacefraggle wrote: »

Share dealing doesn't come with consumer rights like other products - it's risky, and for those who understand it, not for people who don't understand it. The protection comes at the front end - every webpage has reams of disclaimers, which basically say "if you don't what you are doing, get advice before you proceed" and "there are risks, by proceeding, you acknowledge you understand them".

Also, the terms and conditions are written by professionals and checked by lawyers, and as far as I can see, these terms have been adhered to.

If you had done your research, you would have bought through a broker and sold in conditional trading on Friday or Monday (HL meltdown allowing). You would have read the prospectus. If you didn't, don't complain about it.

I bought last minute on Tuesday, I didn't read the prospectus fully, but I read this forum, and I checked carefully what the tick boxes said. I sold Tuesday, once I got my email, and I'm very happy with the profit I made. Where things didn't go as I expected, I recognised this was my fault for not researching/reading enough.

There might be a case for a petition on the undervaluing of the shares - I think the sale should have been cancelled once it was clear how much higher the price was likely to go. But there's no case to answer if you got an email on Wednesday, or chose a share certificate - the information was there, and it is assumed you have read and understood everything - unlike other products where it is assumed idiots are buying stuff, so need more protection.

Bring on the trolls...:cool:

gevans35

mcscoty1973 wrote: »

Fraggle.

I am one of the unfortunate people who did not read the tick box text fully and it is my mistake so I hold my hands up.

I do however feel that the text was deliberately misleading as it started by saying your shares will be held in a nominee account.... that is all I read so I thought I was making the correct choice, done in a rush. I never noticed the last bit that says if you want a cert click here.

I think it has been done in the hope of cashing in on peoples mistake, and I am pretty sure that the advertising standards agency or such would agree that it is misleading.

The online form we filled out was a Government form, not Equiniti.