Selling shares through Equiniti : when do they need the certificate?

elwy

I placed a deal to sell a portion of shares held with Equiniti and I was expecting them to give me instructions about sending them the share certificate but they didn't. They don't seem bothered about needing the certificate.

Is it because they're a registrar? Don't they need the share certificate to make the settlement like brokers do?

Won't they need me to send it in anyway so that they can replace it with an updated number of share units?

I'm panicking a bit as I don't know how this works and I have limited time to sort it out before I go on holiday!

kangoora

Halifax share dealing only need the certificate within a certain amount of time after the sale, for example, http://www.halifax.co.uk/sharedealing/getting-started/how-to-sell-shares/ presumably Equiniti work in a similar fashion. Note with Halifax if you don't send the stuff within 5 days they re-sell the shares and still charge you.

I'm assuming you hold BT shares, given your previous post about the value of your shares and use of Equiniti.

Open up an online investment account with any provider, look out for charges. With Equiniti I believe it is free to hold shares (unless in an ISA where they charge for the S&S ISA every 6 months) but charge £12.50 a deal. Then get them to credit your returned share certificate into your new account and sell by clicking a button in future.

Selling by telephone = extra costs, selling from the Equiniti Sharesave account is ridiculously costly. With Equiniti you can set up an investment account and transfer the shares into there and sell for only £12.50 a trade (which is still quite expensive but nothing like the rip-off charge of 1% they apply to Sharesave account sales).

elwy

Are Halifax a registrar?
I can't find anything in Equiniti T&C's about them needing the certificate within a certain amount of time and I wondered if it's because they're a registrar and maybe it works differently.
Not BT shares, Prudential.

elwy

What's worrying me is that the settlement date is 7th April and that's like 1 working day away, so how am I supposed to get the certificate to them if they need it by then!? I don't know if I'm supposed to print off a CREST transfer form and send it to them or if I have to wait for them to send me a form by post first... currently in a callback queue to speak to them and panicking slightly.

elwy

Ok all resolved. They will send me the forms and they need the certificate back within 2 weeks of the settlement date. I wish they had made all this clear on the website to save me stress!