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Canadian shares - Need broker
harpo1
Posts: 164 Forumite
I have invested in the Bombardier company share schemes for many years. It was pretty good, got 1 free share for every 5 bought. However I am now being made redundant an the share scheme which is Canadian will be closed to me. Currently in Computershare accounts Because the £ $ rate is so poor I dont want to sell yet , but I dont know how to go forward. I will have 21 days to get a broker who can deal with Canadian shares and whose fees are reasonable. Any recommendations?
Many thanks
Many thanks
0
Comments
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If they're currently held by Computershare in Canada, can't you just leave them there?0
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you might want to check if as part of the redundancy process/package there isn't some facility being made available (possibly shortly after you leave) whereby those who don't want to retain the shares can sell via the trustee who manages the share scheme
not sure it's always the case but often in these circumstances you are given a period of say 21 days after leaving to either opt to sell [they do it for you on a given date and send a cheque thereafter] or hold in which case you they put into some sort of broker account then you are own your own0 -
" You have xx days to sell your shares or transfer them to a broker. If no decision is made .. a share certificate will be issued and mailed to you. You will be resposnible for sourcing a UK broker that is able to deal in Canadian shares. " So no it doesnt seem likely that I can leave the shares in the Computershare employee account.
If you can advise ref a broker who can deal with this at a reasonable price I would appreciate it
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it sounds like you will be posted a paper certificate so you could just retain that until you want to sell then find a broker at that time
you just need to ensure you don't lose the certificate as that's will be a royal pain in the backside (in that case you would have to contact the registrar for a replacement and likely pay some various costs)
sorry i don't have any specific experience of selling canadian shares when you hold a paper certificate so can't suggest anything for brokers other than possibly contacting some larger ones come the time such as Charles Stanley and asking if they will a) do it and b) all the costs concerned0
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