Selling my late father's shares through Equiniti

jtothec

Firstly, please excuse my lack of knowledge as stocks and shares are all new to me.

I have been managing my father's shares since he passed away a few years ago. I am the executor of his will.

Mum and I would like to sell the shares which are held with Equiniti. He had shares in 4 companies amounting to around £26K in total.

We've written to Equiniti to say we can't find a couple of the original certificates and they have sent back a Letter of Indemnity which needs to be countersigned (the bank won't do it) and so they want a £76 fee to issue a new certificate. Is this the only way to replace missing certificates?

They will also charge a fee to sell them ( I think it's £40, but not sure). Would that be £40 for each shareholding ie there are 4 companies so £160 in total? That doesn't seem too bad.

We had a letter from Prosearch a few months back who wanted to charge us a huge amount for releasing some money. So we declined. I guess we have lost that money now.

Anyway, I suppose I would just like some advice about lost share certificates and selling shares. Is Equiniti the cheapest way to sell the shares? Some are with Lloyds Banking group and I read that I could approach Halifax share dealing to sell those. Is that the case? Or would it be simpler, considering my lack of experience, to let Equiniti sell them for us. So very confused and out of depth.
Thank you.

xylophone

Is this the only way to replace missing certificates?

Yes.

http://www.shareview.co.uk/4/Info/Portfolio/Default/en/Home/Shareholders/Pages/LostCerts.aspx

Or would it be simpler, considering my lack of experience, to let Equiniti sell them for us.

In your position I would send back the indemnity and let Equiniti sell the shares - then you have the cash and it is done with?

It would be best to have the proceeds paid direct to your/your mother's/the executor's account if possible.

talexuser

I think Equiniti will sell your certificates for £45 each in certificate form, so around £180 in total.

Yes you have to pay a charge to replace lost certificates.

You can sell for cheaper, around £6 a share, but it would mean sending the certificates by registered post to get them online and then selling online, transferring the money to your bank. And they would have to be in presumably your mother's name first.

If you don't fancy the hassle let Equiniti sort it for you.

jtothec

Many thanks for your replies. Very helpful.