Royal Mail Shares

mcscoty1973

Good info here gevans.

I think a lot of people might like to know more about using X-O as an option for the certificate shares. Is it just a case of setting up an account with X-O and then downloading the form and sending off to them with the cert (recorded delivery of course). Do you know what the charges are for doing this with them? is there a charge for the transfer to their nominee account, what are the charges for a sale?

Any info you have would be most useful to a lot of people.

Hope you manage to get things sorted before you go.

gevans35 wrote: »

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

The website may have been, but doesn't mean that there was some deal that went on in order to reduce charges for others etc. The email that was sent out as confirmation actually came from an Equiniti address though.

gevans35 wrote: »

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

gevans35

mcscoty1973 wrote: »

Good info here gevans.

I think a lot of people might like to know more about using X-O as an option for the certificate shares. Is it just a case of setting up an account with X-O and then downloading the form and sending off to them with the cert (recorded delivery of course). Do you know what the charges are for doing this with them? is there a charge for the transfer to their nominee account, what are the charges for a sale?

Any info you have would be most useful to a lot of people.

Hope you manage to get things sorted before you go.

X-O cost is £5.95 per trade with no additional costs, so in our case it would cost £5.95 x 2, one trade for each certificate. We have now opened two X-O accounts and if we get our trading PINs, which are sent by post, before we leave, it looks like we're good to go.

gevans35

mcscoty1973 wrote: »

The website may have been, but doesn't mean that there was some deal that went on in order to reduce charges for others etc. The email that was sent out as confirmation actually came from an Equiniti address though.

Yes, you're right, it did.

mcscoty1973

Thats excellent thanks gevans :-)

So is it just a case of 5.95 per trade plus the cost of the recorded delivery to send the cert to them, so effectivly cheaper than the 17.50 that Equiniti would have charged for an online trade in the first place?

Just one questing, what happens if RM lose the certificate, can you get a new one and claim them for any charges?

gevans35 wrote: »

X-O cost is £5.95 per trade with no additional costs, so in our case it would cost £5.95 x 2, one trade for each certificate. We have now opened two X-O accounts and if we get our trading PINs, which are sent by post, before we leave, it looks like we're good to go.

Quentin

mcscoty1973 wrote: »

Thats excellent thanks gevans :-)

So is it just a case of 5.95 per trade plus the cost of the recorded delivery to send the cert to them, so effectivly cheaper than the 17.50 that Equiniti would have charged for an online trade in the first place?

Just one questing, what happens if RM lose the certificate, can you get a new one and claim them for any charges?

Recorded delivery doesn't include consequential loss insurance.

That's special delivery plus consequential loss cover and correspondingly more expensive.

mcscoty1973

OK but as it might cost £42 to get a new certificate if it gets lost, it is probably worth it, and it is probably still cheaper than Equiniti online trading price.

Quentin wrote: »

Recorded delivery doesn't include consequential loss insurance.

That's special delivery plus consequential loss cover and correspondingly more expensive.

gazzer666

Ologhai wrote: »

Is this a joke, or has he really resigned? (If really, do you have a link to the story?)

Totally true and has resigned - officially leaves 31/10

gevans35

mcscoty1973 wrote: »

Thats excellent thanks gevans :-)

So is it just a case of 5.95 per trade plus the cost of the recorded delivery to send the cert to them, so effectivly cheaper than the 17.50 that Equiniti would have charged for an online trade in the first place?

Just one questing, what happens if RM lose the certificate, can you get a new one and claim them for any charges?

Yes, I think so, although Equiniti charge a minimum of £45 for an online trade of certificated shares.

I think it costs about £50 for a replacement certificate if it gets lost in the post.

Our other option, if we receive the form Ds before we leave, is to send the certificates back to Equiniti and, after a ten day wait, sell the nominee shares using the automated telephone line for £7.50 per trade.

Ologhai

gazzer666 wrote: »

Totally true and has resigned - officially leaves 31/10

Link please?