Royal Mail Shares

sharpharp

Like most others, received a share cert instead of a nominee account, even though I specifically asked for a nominee account.

Rang equinity yesterday and have to say they are completely clueless, just got fed the usual which box did or didn't I tick.

I kept a screenshot and clearly shows what options I ticked, but they still weren't interested.

Equiniti are a complete shambles, there customer services sucks big time, taking my cert elsewhere, useless $%%%s

mcscoty1973

Hi Pemberton.


Glad my post have helped you. Yes that pretty much is the way that I understand it so far. One option you missed is the option to deal via post at 0.75 per share. This is cheaper, but you have no control at which rate the shares are sold for, so possibly risky.

Pemberton01 wrote: »

Thanks mcscoty1973 for your invaluable help on this thread to those of us who received Share Certificates and are possibly looking to sell. Your post number 1760 on this thread which is basically re-produced below was most useful.

To bring together all your useful advice, is this where we are?:-

1. Don't sell your Royal Mail shares with a Share Certificate unless you are prepared to pay a dealing fee of at least £45.

Instead your options include:-

1. Ring Equiniti (0121 415 7593), or email them. Ask them to send you a form, called a 'D Form', to transfer your shares into the Nominee Account. Obtaining the form is free and transferring the shares into the Nominee Account is free. I rang Equiniti on Thursday, and my form has arrived today. Fill in the form, send it back with your Share Certificate and after a few days, I can then sell through either the automated phone line for £7.50 on or before 8th November or for £17.50 through Shareview.co.uk

2. Open a Nominee Account with dealing firm x-o (www.x-o.co.uk), print off a CREST form which you can do from their site and send it back with the Share Certificate. Their dealing charge is £5.95 and once you have received the pin / trading number they send you in the post, you can trade with them.

Obviously whether returning Share Certificates to Equiniti or sending to x-o will incur Recorded Delivery postages charges, though is considerably cheaper than trading with a Share Certificate.

mcscoty1973

I feel your pain Sharp, but if like me you ticked the first box thinking it was for the nominee account you missed the little bit at the end that completely reversed what you though you were selecting. The last bit read along the lines, if you want a share certificate, click here. Lots of us fell for that bit. I think Equiniti are hoping we would deal at their inflated 45 option.

sharpharp wrote: »

Like most others, received a share cert instead of a nominee account, even though I specifically asked for a nominee account.

Rang equinity yesterday and have to say they are completely clueless, just got fed the usual which box did or didn't I tick.

I kept a screenshot and clearly shows what options I ticked, but they still weren't interested.

Equiniti are a complete shambles, there customer services sucks big time, taking my cert elsewhere, useless $%%%s

Pemberton01

Yes, the post option I overlooked. I assumed it wasn't cheaper with it being 0.75% of transaction value with a minimum of £7.50 as per the automated phone line.

mcscoty1973

I think it is 0.75 per share not per the value realised, but I am not certain now 😃 but I would not think it is a good option anyway, they could sell all the shares for less than you paid for them. Also this option can only be used if you wish to sell all the shares, not just some of them

Pemberton01 wrote: »

Yes, the post option I overlooked. I assumed it wasn't cheaper with it being 0.75% of transaction value with a minimum of £7.50 as per the automated phone line.

beryl-the-peril

I registered for an account with X-0 last night .. put in bank details ..waited for activation e-mail that didnt come. tried to log back in and it said "site closed for maintenance" still not had an e-mail this morning.. bit worried about giving my bank details tho .. eek !!

gevans35

mcscoty1973 wrote: »

I think it is 0.75 per share not per the value realised, but I am not certain now 😃 but I would not think it is a good option anyway, they could sell all the shares for less than you paid for them. Also this option can only be used if you wish to sell all the shares, not just some of them

In the end we went for the postal option. X-O trading PINs have still not arrived and since we shall be away for two months from early next week we were running out of options to sell.

Postal meant we could send off the certs, today by special delivery, guaranteed to arrive on Monday, so the shares will be sold on Tuesday at the price ruling at the time, with no need for CREST forms. Yes it's a risk, but at least it's done and dusted and we can concentrate on other things. This has been so disruptive.

Had we been issued the nominee shares we thought we had requested, we would have sold last Tuesday for about 470, so unless the price drops below that on Tuesday we won't be out of pocket, and if it does, ces't la guerre.

gevans35

beryl-the-peril wrote: »

I registered for an account with X-0 last night .. put in bank details ..waited for activation e-mail that didnt come. tried to log back in and it said "site closed for maintenance" still not had an e-mail this morning.. bit worried about giving my bank details tho .. eek !!

They operate a manual email reply system so you probably won't get one until Monday morning when the office next opens.

gt94sss2

As I gather many of you don't have much experience with shares - so its worth pointing out there are other brokers people can use to sell share certificates if you don't want to open a broker account to do so.

For instance, the Share Centre is cheaper than Equiniti at £25 rather than £45 and Halifax charge £30 (I have no connection to either companies share dealing services)

Other brokers will also offer similar services - though it is cheaper to sell via a nominee account.

Regards
Sunil

mcscoty1973

Yeah I can understand why that option works for you gevans. I hope the share price stays high and it works out for you. It is going to work out cheaper as long as the price remains good.


Good luck.

gevans35 wrote: »

In the end we went for the postal option. X-O trading PINs have still not arrived and since we shall be away for two months from early next week we were running out of options to sell.

Postal meant we could send off the certs, today by special delivery, guaranteed to arrive on Monday, so the shares will be sold on Tuesday at the price ruling at the time, with no need for CREST forms. Yes it's a risk, but at least it's done and dusted and we can concentrate on other things. This has been so disruptive.

Had we been issued the nominee shares we thought we had requested, we would have sold last Tuesday for about 470, so unless the price drops below that on Tuesday we won't be out of pocket, and if it does, ces't la guerre.