Computershare issues with company shares

LisaNight

Anyone had issues with company share schemes with Computershare - not being able to get money out you’ve paid in ? 

eskbanker

It would probably be more productive to spell out in more detail what specific issues you're having, rather than asking what's happened to others?

LisaNight

Makes sense - I’ve not really posted on here before - paid into company share scheme - promoted as a saving scheme within the company - always get back what you paid in - even if the shares go down - left the company and carried on paying in for 6 months as share prices had doubled - advised by Computershare to ring in early Jan to close share option - did so before last direct debit went out but told shares needed closing before end of Dec and no money would be paid - raised a complaint and given £100 as agreed wrong advice given ( date wise - though I made it clear I was unable to ring in late Dec as father had died / family had covid ) so they have several thousand pounds I paid in and also the potential of the several thousand from the shares . Financial ombudsman not helpful 

eskbanker

What were the terms of the arrangement regarding your rights and obligations on leaving the company, i.e. how much flexibility did you have about when to exit the scheme?

Assuming that you're trying to comply with those terms, what specifically are Computershare doing to prevent you from accessing the shares or the proceeds if they should now be accessible, i.e. what provisions within the terms are they citing to deny you what you believe you're entitled to?

Have you logged a formal complaint with Computershare, usually required as a precursor to escalating to FOS?

Vortigern

Company share schemes usually have rules governing what happens when an employee leaves the company. "Bad" leavers - those leaving via resignation or dismissal - are treated less favourably than "Good" leavers, who leave by redundancy or retirement.

As a good leaver you may be permitted to continue subscribing by standing order or direct debit for 6 months after leaving employment and you would be required to exercise your option to buy shares by some specified date. If you've missed that date you should get all your money back, probably without interest.

Are you dealing with the correct company? Computershare is the share registrar, but your savings may have been held by a bank, awaiting your instruction to buy shares. Do you need to contact that bank, rather than Computershare?

LisaNight

I’ve logged a formal complaint - I was allowed to pay in for a further 6 months - I missed the date to exercise the shares as told the wrong date - which they’ve acknowledged and offered £100