Company Sharesave Matured - Certificate Issued - How to sell?

Vini123 · 28 September 2017 at 2:26PM

My 3 year company share-save scheme has recently matured and I chose to convert to shares. Upon doing so I received a Share Certificate.

I own, X amount of "Ordinary Shares of 1p each fully paid".

We have a nominated share registrar that takes 1.5% (SignalShares). Yesterday our shares made a nice rise, however, SignalShares "snapshot" was from lunchtime, and didn't recognise this increase.

I'm not looking for live buying and selling, but I am wondering if I am tied into SignalShares, or if there is a better option of holding/selling my shares, perhaps with a lower transaction fee?

I did a quick search and a thread from 2012 seemed to suggest you can "sell" your certificate and trade the shares in a slightly different manner, with some companies who (back in 2012) has fixed rates etc???

Am I better to just stay put, or do I have options?

Many thanks,
James

MallyGirl · 28 September 2017 at 3:00PM

no you are not tied to Signal shares - 1.5% is a ripoff. I had the same when my first lot matured - equiniti wanted a similar amount.

You can sign up with a cheap online dealer - I used x-o and they charged £5.95 per sale back then. Once you signup they tell you how to transfer your paper certificate into their online system. Once it is in there you can sell online and then transfer the proceeds into your bank account.

Anonymous101 · 28 September 2017 at 3:23PM

I'm in my company scheme which matures next year. I have recently inquired as to if I can deposit these into my S&S ISA.
Perhaps it would be worth you asking is you have one?

Vini123 · 28 September 2017 at 3:46PM

x-o is one I'd read about in the thread from 2012... how does it work? Do you effectively transfer ownership of the shares to them?? How safe is it? What if they go under?

I'm not normally overly cautious, but equally I'm not at all familiar with share dealing.

Not too bothered about dumping into a S&S that I do have.

MallyGirl · 28 September 2017 at 3:46PM

I asked about that but I would have had to sell mine and re-buy within ISA wrapper. However I didn't want that much money tied up in a single company share anyway so it wasn't an issue for me

bigadaj · 28 September 2017 at 6:12PM

Vini123 wrote: »

x-o is one I'd read about in the thread from 2012... how does it work? Do you effectively transfer ownership of the shares to them?? How safe is it? What if they go under?

I'm not normally overly cautious, but equally I'm not at all familiar with share dealing.

Not too bothered about dumping into a S&S that I do have.

The shares and cash are ring fenced in a client account, so can't be claimed as an asset of the company.

What are your plans for the shares, most would say that if you have shares in your employer that have vested then selling would be wise, potentially putting that cash into diversified funds, far lower risk. If you keep shares and they go bust you lose your job and the shares.

How much are the current shares valued at, a consideration for selling is capital gains which you have a tax free allowance of £11k a year.

Alexland · 28 September 2017 at 10:01PM

I would definitely sell them at the first opportunity to diversify. Would you have bought them in that exact quantity a to hold if they hadn't been discounted?

Vini123 · 4 October 2017 at 11:14AM

Bought at 2.50, have been as high as 6.75 (recently too), but recently took a hit and have been trading at around 4.75 since the half year results. Never been lower than 4 in my time at the company, so happy to hold for now.

The plan was to take out the equivalent of the £ I initially invested and let the rest ride the rollercoaster. I will probably look to do this if the shares hit 5.00 again, but I found with the recent increase in the price, that SignalShares never tracked the daily rate, so the "short rise" was never available to cash out on! Hence why I'm looking for a bit of a better dealer!

I think I fall just under capital gains marker. Is it £11k in profit? (as in clearing £11k on top of the initial investment?)

MallyGirl · 4 October 2017 at 11:24AM

yes it is based on profit - difference between what you paid for them and what you sell them for. You can also take the selling fees off the profit but if you choose the right dealer that won't be very much.

greatkingrat · 4 October 2017 at 4:30PM

Vini123 wrote: »

Bought at 2.50, have been as high as 6.75 (recently too), but recently took a hit and have been trading at around 4.75 since the half year results. Never been lower than 4 in my time at the company, so happy to hold for now.

The plan was to take out the equivalent of the £ I initially invested and let the rest ride the rollercoaster. I will probably look to do this if the shares hit 5.00 again, but I found with the recent increase in the price, that SignalShares never tracked the daily rate, so the "short rise" was never available to cash out on! Hence why I'm looking for a bit of a better dealer!

I think I fall just under capital gains marker. Is it £11k in profit? (as in clearing £11k on top of the initial investment?)

Any price you see on a share dealing website is only a guide. Whether they update their prices daily, hourly or every minute has no impact on the price you will get if you actually sell some shares as the price will have changed again by the time the transaction goes through.

Vini123 · 12 October 2017 at 7:56PM

How long does a transaction usually take to go through? And would the price be guaranteed by the company selected "broker"? (Perhaps as a perk to the higher % fee).

I'm still unclear about how I transfer my funds to x-o for example. Do I effectively give them ownership of my shares? What happens if they (x-o) go under?

Company Sharesave Matured - Certificate Issued - How to sell?

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