Letter from EQUINI shares need assitance please

topcat007

Hi,

I will copy the letter out so this makes sense. What i am need to know is what happens if the shares are transferred out and the legal implications of this? Is there any options here to just sell and get rid of them?


(i really have no knowledge in the world of shares at all)

it is formatted better here:

http://www.lloydsbankinggroup.com/globalassets/documents/investors/2015/lbgsa_novation_letter_mar2015.pdf


Any help appreciated

Lloyds Banking Group Shareholder Account (‘LBGSA’)
Notice of proposed change of provider of the LBGSA corporate sponsored nominee service
We hereby notify you that from 1 July 2015, Halifax Share Dealing Limited (‘HSDL’) will no longer provide the LBGSA service.
Provision of the LBGSA service will transfer to us, Equiniti Financial Services Limited. This notice is in accordance with Condition
7.9 of the Terms and Conditions between you and HSDL.


What does this means for you?
Equiniti Financial Services Limited already provides the administration and share dealing services in respect of the LBGSA. This will
not change the current service arrangements in respect of your holding of Lloyds Banking Group plc shares (‘Lloyds Shares’) through the LBGSA and you do not need to do anything, unless you wish to withdraw from the LBGSA (please see below).
Lloyds Shares that are currently held on your behalf by Halifax Nominees Limited will be transferred to a nominee that will hold the
Lloyds Shares on your behalf as directed by Equiniti Financial Services Limited from 1 July 2015. From that date, Equiniti Financial
Services Limited will be responsible for holding your Lloyds Shares and for all obligations under the New T&Cs (as defined below).
HSDL will no longer be responsible for the LBGSA. There will be no changes to the contact details for the LBGSA.



What should I do if I do not wish to transfer to Equiniti Financial Services Limited?
You can withdraw your Lloyds Shares from the LBGSA free of charge prior to 1 July 2015. To do this you should contact Equiniti
Financial Services Limited in writing at the address below providing your name and your shareholder reference number.
How can I leave the LBGSA after the transfer?
You can withdraw from the LBGSA at any time. You should contact us and we will provide you with the appropriate forms to
transfer your Lloyds Shares. A charge may apply if you choose to withdraw from the Service after 1 July 2015. We will, unless
otherwise instructed, transfer your Lloyds Shares into your own name and send you a share certificate

masonic

I haven't read through the whole letter, so perhaps I'm missing something, but is there anything about this change that will be to your detriment?

tg99

It looks like a straightforward transfer of service provider from Halifax to Equiniti - I had a similar scenario (albeit the other way round) a few years back where I had some shares with Equiniti but the service provider changed to Capita. There were no material implications other than really just the dealing costs/charges when you come to sell the shares (which in my case were no any different). May be worth calling them to double check though.

tg99

And looks like you have until July to sell the shares before the transfer if for any reason you decide to. Two other things worth checking:

- sometimes with changes such as these there is a period around the date of transfer when the service is unavailable for a few days whilst they are moving over all your records etc

- if you need copies of any historic transaction notes etc from Halifax for these shares then should request before the transfer as I did not request mine until later on once already moved to Capita and it took a lot of phone calls to get this from Equiniti.