Share Certificate Never Issued

Some years back I purchased a number of Bank of Ireland Shares over the counter at AIB.
I was issued with a share certificate in 2014. Today I decided to sell these shares.
I have been informed the number of shares in circulation had been reduced and I would need a recent share cert.
I was told by a stock broker to contact the company who administrates (shares for BOI ) and ask them to issue me with a new cert.
After Contacting the administrators, I was informed that I should have received a new cert in 2017. I did not receive any such cert.
To get a new Cert issued is is going to cost me 82e for them to sign the application(for a lost cert) and 60e admin fee.
This I feel is extorsion as I never received or lost this cert. I asked them if they had registered the posting of such a valuable document and they had not.
Please advise what I should do...

Don't buy shares if you are not prepared to keep an eye on developments in the company.

When the new certs were issued and you didn't receive them, you should have flagged it back then.

Brendan

I did keep an eye on developments and I was aware that the shares were being consolidated.
I had no way of knowing that new certs were being issued.

Can you not sell them through the registrar? If the Cert is null and void the shares are still held with the registrar in your name

I was informed ComputerShare who manage the certs for BOI, that they are not a stockbroker and so I cannot sell through them.
ComputerShare want to charge me 78e to from them to sign a lost share cert form and 60e admin fee.

You could write a letter of complaint to the Secretary of Bank of Ireland. They may well waive the fees then.

Brendan

I will try that.
Thank you.

morecash said:

I did keep an eye on developments and I was aware that the shares were being consolidated.
I had no way of knowing that new certs were being issued.

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It's standard practice, every change in the share requires new certificates.

morecash said:

I was informed ComputerShare who manage the certs for BOI, that they are not a stockbroker and so I cannot sell through them.
ComputerShare want to charge me 78e to from them to sign a lost share cert form and 60e admin fee.

Click to expand...

If they are not worth paying the fees, then you could always just abandon them.

It's a sizeable amount so I can't abandon them.
And as for standard practice, how is a small time shareholder (most of whom never hold certs) supposed to be ware of this.

There is no avoiding it unless you get BOI and computershare to waive fee.

You used to be able to sell through computershare as far as I’m aware.

The best thing to do is engage a broker to do it for you. There is going to be a fee for selling also.

Get them to do it for you and to transfer the shares into a nominee account. That way if you decide to not sell the shares all dividends, splits etc will happen automatically and they will notify you.

However expect a fee also for that service

I got them to waive the 60e after making a complaint and telling them I never received the new cert.
I am still stuck with the 78e so they can process the lost cert. But I guess that's as good as its going to get.
Thanks your all your help

€78 to be able to, once again, deal with a "sizeable amount" of shares doesn't seem too bad.