Selling shares without an active account?

[onekeano]

A friend of mine has held Kenmare for a long suffering number o f years - the value is c.€2,000 at this stage. He actually has a certificate to that effect but because he has been inactive his account with the broker is dormant and as a result he has been told it will cost several hundred € to sell these through a broker.

Any advice on the most efficient way of disposing of these would be much appreciated.

Roy

 

[Tommy Chuck]

Hi,
I'm in a similar position. I have a share cert from the disposal of share options I had through a company options scheme (the shares are in an FT-100-listed company). I'd like to offload these but I spoke to Davy and it was working out at about €250 odd for them to perform this transaction, which I thought was ludicrous.
I know that AIB offer an over-the-counter service to sell shares but as I don't have an account with them, this isn't an option for me. So I contacted TD Waterhouse but made the mistake of indicating that I was born in the US so that disqualified me from signing up with them (the fact that I was a baby when I moved to Ireland and have never lived or paid tax in the US didn't matter to them).
If anyone has any suggestions on how best to sell these (at a reasonable rate), I'd really appreciate it.
Thanks,
Tommy

 

[Mizen Head]

Onekeano, Computershare Ireland offer this service for companies for whom they act as registrars, and I see that Kenmare is one of these. They are very reputable and worth a call.
Tommy, check out Computershare UK for your company. I am sure they or a similar co offer this service for your listed holding...look at the site of your holding (usually under Investor Relations, or similar tab) and you will find the name there

 

[Tommy Chuck]

Thanks Mizen Head,
The company used Equiniti (a shower similar to Computershare) but they won't sell shares for non-UK based users so it's not as simple as it should be unfortunately.