Cost-effective sale of inherited physical shares

osullic

I have no real experience of trading in shares, but I have inherited some, and I'd like to find out how to go about selling them. There are a few specific considerations to my case:

• I have a physical share certificate, which I received yesterday.
• The shares are for an Irish company, which seems to be listed on both the Irish stock exchange and the London stock exchange. I live in London, and have both a British bank account and an Irish bank account.
• The share certificate lists the shares as "A Ordinary Shares of €0.125", but the Irish stock exchange lists the share price (today) at more than €100 per share. At today's market price, the shares are worth a little over €20,000.

Ultimately, I want to sell these shares and have the proceeds land in my British bank account.

I am confused around the fact that the company is listed on two different stock exchanges. Are my shares particular to one exchange? Can I sell the shares only in Ireland? If I can choose one country or the other, is there any advantage/disadvantage to one or the other?

I am assuming I have to pay a stockbroker to sell these shares on my behalf. Is that correct? How do I begin to go about that in the most cost-effective way? I'm not really sure where to start. I don't really want to get into some process where I have to open an account and pay ongoing fees to a stockbroker.

Also worth mentioning - the solicitor who handled the will engaged an accountant to calculate my inheritance tax liability on the shares, which has already been paid to the Irish Revenue.

moneysavinghero

You could try http://sellmysharecertificates.com . No accounts, just send your cert and they will credit your bank with the money.

lozzy1965

And, it doesn't matter that they are listed on 2 exchanges, this is common, just means they can be bought and sold on both exchanges.

osullic

Hi @moneysavinghero do you have experience with this company? Or you just found them through a Google search or something? Thanks

wmb194

osullic said:

Hi @moneysavinghero do you have experience with this company? Or you just found them through a Google search or something? Thanks

Jarvis is a reputable company and stockbroker. It's listed on the LSE, ticker JIM, so it's easy to research. A cheaper option by about £20, still with Jarvis, would be to open a (free) account with x-o.co.uk, lodge your shares and then sell them but would involve a couple of extra steps.

"sellmysharecertificates.com is a trading name of Jarvis Investment Management Ltd which is authorised and regulated by the Financial Conduct Authority, a member of the London Stock Exchange and an HMRC authorised ISA manager. Registered office: 78 Mount Ephraim, Tunbridge Wells, Kent, TN4 8BS. Registered in England no. 1844601. VAT registration no. 680 0400 74."

osullic

Thanks. I just did a cursory search yesterday, and Jarvis didn't seem to have "rave reviews" on Google. Also, their address looks like a very small office in a basically residential area.

ellie99

I used Jarvis Investment (sellmysharecertificates.com) last month to sell some shares my mother held.
I posted off the certificates late afternoon, and the next day got an email telling me the selling details. Then got details in the post. So they sold immediately they got my instructions, and they paid mother the money 2 weeks later. It was a perfect transaction from my point of view, as I hadn't known how to sell with paper certificates. Couldn't fault them.

wmb194

osullic said:

Thanks. I just did a cursory search yesterday, and Jarvis didn't seem to have "rave reviews" on Google. Also, their address looks like a very small office in a basically residential area.

Stockbroking is like banking. It's a commoditised, nothing special service and when things go as expected it's rare that people go out of their way to write rave reviews.

xylophone

 Before posting the share certs, it could be  wise to photocopy them for your records.
I'd send them insured special delivery. - it is a pain of pains if you lose them and have to go the indemnity route.

osullic

Just want to post a quick follow-up...

I contacted Jarvis / sellmysharecertificates.com and was told that they could not sell my particular share certificate... "following Brexit we are no longer able to settle Irish securities". So it seems that sellmysharecertificates.com doesn't apply to all LSE companies, only to UK ones. Which is a PITA as far as I'm concerned. I didn't expect so many hoops to jump through just to turn some shares into cash.

Thrugelmir

osullic said:

Just want to post a quick follow-up...

I contacted Jarvis / sellmysharecertificates.com and was told that they could not sell my particular share certificate... "following Brexit we are no longer able to settle Irish securities". So it seems that sellmysharecertificates.com doesn't apply to all LSE companies, only to UK ones. Which is a PITA as far as I'm concerned. I didn't expect so many hoops to jump through just to turn some shares into cash.

The shares are registered in Eire not in the UK that's your issue. If you had no wish to retain them would have been easier for the executor to liquidate them and simply pass over the proceeds.