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Transferring ownership of shares

Hi,

I'm in the process of filling in a stock transfer form to transfer ownership of some shares purchased in 1991 from myself to my sons, but am struggling to understand what is required by one of the entries and would be very grateful if someone could offer me some advice.

I have to fill in the "full description of security", but the problem is that the original shares certificate states this to be "ordinary shares of 25p each" while the value of the same shares is quoted as "ordinary shares of 5p" on the latest correspondence from the stock broker. What I need to know is which is right, and why would they be different in the first place?

Comments

  • Wilkins
    Wilkins Posts: 444 Forumite
    It sounds like there has been a share split and you have not received an updated certificate. I would think you should put down what it actually says on the certificate and let the registrar sort it out. It won't hurt to telephone the registrar and confirm.
  • epicurate
    epicurate Posts: 39 Forumite
    My instinct was the opposite of yours Wilkins! He/she doesn't HAVE any 25p shares now, just 5p shares (which as you say is almost certainly the result of a sub-division). But a call to the registrar should sort it out. Make sure you get the number of securities right as well, if there's been a sub-division.
  • Wilkins
    Wilkins Posts: 444 Forumite
    epicurate wrote: »
    My instinct was the opposite of yours Wilkins! He/she doesn't HAVE any 25p shares now, just 5p shares (which as you say is almost certainly the result of a sub-division). But a call to the registrar should sort it out. Make sure you get the number of securities right as well, if there's been a sub-division.
    Actually, I think we agree. OP cannot have the 25p shares (they no longer exist) but has proof of former ownership and that should tally with the declaration. But, yes, calling the registrar is recommended. OP should not assume that my/our explanation is necessarily correct.
  • Ifts
    Ifts Posts: 1,956 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker Name Dropper
    bgm6298 wrote: »
    I have to fill in the "full description of security", but the problem is that the original shares certificate states this to be while the value of the same shares is quoted as "ordinary shares of 5p" on the latest correspondence from the stock broker. What I need to know is which is right, and why would they be different in the first place?

    Apologies if I'm stating the obvious here - But the bit on the share certificate that states "ordinary shares of 25p each" or "ordinary shares of 5p" is the Nominal Value of the Share thats indicated on the Share Certificate.

    This is different from the Market Value of the Share, which is the actual value of the share and the amount for which it can be bought or sold. You will have to look up the share price to find the value of your holding.

    As already mentioned there may well have been a share split and you have not received the updated share certificate, you could ask your broker or to find out how many shares you own for sure call the registrar.
    Never let the perfume of the premium overpower the odour of the risk
  • MallyGirl
    MallyGirl Posts: 6,954 Senior Ambassador
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    the transfer form is very clear though that you need to get the wording exactly right
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