Transferring shares

Gwendlevene

I’m trying to find information about transferring shares from EquatePlus.  We bought some shares through my husband’s company share scheme a couple of years ago.  It’s a foreign company and his UK based subsidiary was then the subject of a management buyout.

We’ve just been told by the original company that he needs to close his EquatePlus account as it’s costing the company money to maintain it. 

We’re not sure what to do with the shares as we don’t want to sell them but as we don't have any other shares, we don't have a broker to transfer them to. So, we’re trying to work out what our options are while trying to minimise the amount of administration charges we incur.

TIA for any pointers.

[Deleted User]

Hi,

have a look HERE at X-O, cheap and recommended regularly on this forum.

wmb194

frugalmacdugal said:

Hi,

have a look HERE at X-O, cheap and recommended regularly on this forum.

X-O will be no good if they're shares in a foreign company, or at least ones not listed on the LSE, held via Crest and quoted in sterling.

OP, foreign shares can be tricky as it'll depend on the broker and even if they are offered they might not accept transfers in. It would help to know the name of the company.

For instance, Freetrade's website states, "However, we may not be able to accept transfers of stock in specie for non-uk securities, depending on how they are held with your current broker. We are also currently unable to support the transfer in of European-listed shares, however we plan to offer this functionality in the future." If we're talking about a well known US company it should be less of a problem.

https://freetrade.io/general-investment-account/transfer-gia

[Deleted User]

Hi,

found this, HERE.

'Q. Where can I transfer my shares?

Shares held in the Share Plan Account (SPA) and can be transferred to any other broker. You will
need to add your broker details to do this. As EquatePlus is paperless, receiving your shares in the
form of a share certificate is not supported.

Gwendlevene

OP, foreign shares can be tricky as it'll depend on the broker and even if they are offered they might not accept transfers in. It would help to know the name of the company.

Thanks for the info.  It's a Norwegian company, quoted on the Oslo stock exchange.

wmb194

Gwendlevene said:

OP, foreign shares can be tricky as it'll depend on the broker and even if they are offered they might not accept transfers in. It would help to know the name of the company.

Thanks for the info.  It's a Norwegian company, quoted on the Oslo stock exchange.

For Norway you could try Hargreaves Lansdown, Saxo Bank and Interactive Brokers. Pay attention to their custody fees, though. I guess it'll depend on the value of your holding and how desperate you really are to keep them.

Gwendlevene

Thanks for your help.  We've decided to go with Hargreaves Lansdown as they are currently offering (until the end of the month) a cash back deal for transferring shares and their fund and share account says that there is no charge for holding shares although obviously there are charges for dealing if we decide to get into that.  The original company are saying that if we move quickly they'll cover the transfer fee that EquatePlus charge, so hopefully we're on the way to being sorted.