How to reclaim 'lost' shares
Discussion
Many years ago I was in a company that gave shares to its employees. No share certificates as such were issued, but i've got around 300 of them worth a couple of grand. Now I had forgotten about this until recently when I got a flurry of letters from one of those companies who 'specialise' in reconnecting shares with their lost owners - think of it as a sharesreunited service... but for a %15 charge, which I think is an extraction of the proverbial. So is there a way that I can reclaim these shares without the share certificates and without paying some middleman for in effect doing the square root of diddly squat?
Cheers
Cheers
The company will have a registrar, usually a company that acts as registrar to many companies or, if your company was small, it might have performed as its own registrar.
Write to said registrar and tell them you've lost the certificate. They'll tell you what to do.
The registrar usually sends out dividend cheques. Their address will be on dividend counterfoils.
You do get dividends, don't you..?
Write to said registrar and tell them you've lost the certificate. They'll tell you what to do.
The registrar usually sends out dividend cheques. Their address will be on dividend counterfoils.
You do get dividends, don't you..?
mybrainhurts said:
The company will have a registrar, usually a company that acts as registrar to many companies or, if your company was small, it might have performed as its own registrar.
Write to said registrar and tell them you've lost the certificate. They'll tell you what to do.
The registrar usually sends out dividend cheques. Their address will be on dividend counterfoils.
You do get dividends, don't you..?
I used to, about 10 years or so ago, but definately not in the last 6-7 years, that's for sure.Write to said registrar and tell them you've lost the certificate. They'll tell you what to do.
The registrar usually sends out dividend cheques. Their address will be on dividend counterfoils.
You do get dividends, don't you..?
If they didn't stop paying dividends for various reasons, you are entitled to them.
If the registrar starts to ask you for fees to reissue cheques (and they do), remember that their contract is with the company and not with you as a shareholder.
Demand the dividends immediately, under threat of legal action, and refer them to the company for any fee they wish to charge.
The company pays them to act as registrar and you are under no obligation to them. They have an obligation to give you the dividends within a reasonable time.
If you can't produce a share certificate, they will need a declaration from you that it's lost and they are entitled to ask you for some kind of confirmation from your bank or a solicitor or other (cough) person of good repute. This will cost you.
If the registrar starts to ask you for fees to reissue cheques (and they do), remember that their contract is with the company and not with you as a shareholder.
Demand the dividends immediately, under threat of legal action, and refer them to the company for any fee they wish to charge.
The company pays them to act as registrar and you are under no obligation to them. They have an obligation to give you the dividends within a reasonable time.
If you can't produce a share certificate, they will need a declaration from you that it's lost and they are entitled to ask you for some kind of confirmation from your bank or a solicitor or other (cough) person of good repute. This will cost you.
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