I bought 100 Microsoft shares in 1998, back when you were given a talk about certificate. As soon as I purchased them, the value plummeted and it’s taken the best benefit of 20 years to see a profit. The problem I’ve now could be how to sell them as no one appears to want to cope with a share certificate, from an American company especially.
Please, is it possible to please suggest how I could sell them? As times have changed and technology has developed, many services are being offered online – and in some instances now, exclusively so. While UK share certificates can still be bought and sold, this is very rare, time-consuming, and may feature a cost.
Overseas talk about certificates are exchanged even less often and regrettably, it might take a bit of time before you gain access to their value but it is still possible with a couple of methods. 13,700 (or £10,946). So how can you access that? An expert was asked by us stockbroker ways to sell your old stocks.
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Stephen Wolstenhulme, investment manager at investment management and stockbroking company Redmayne Bentley, replies: ‘This is a frequently-experienced problem for UK shareholders who have overseas share certificates, because so many stockbrokers shall offer only with electronically-held overseas stocks. We are one of a handful of investment management and stockbroking firms which can allow a sale of shares for UK investors with overseas holdings in certificated form. It will then go through an activity called dematerialisation. This is actually the movement of the shares from a physical paper share certificate to an electronically-held holding.
This process can take between four and eight weeks to complete, depending on the abroad transfer agent, after which the stock is securely deposited in your nominee accounts and we are in a position to sell. Your shares could then be sold during US market trading hours (2.30pm to 9.00pm GMT), receiving the united states buck thereafter proceeds two working days. This may then be converted into Sterling or any other major currency.
When offering your holding through a UK stockbroker instead, you don’t have to secure a Medallion Guarantee as the broker will set up this when liaising with the transfer agent on your behalf. Redmayne Bentley can offer usage of both a physical Medallion Stamp, as well as the utilization of the unlimited Value Prefix Z Medallion stamp through our custodians for UNITED STATES stock debris. Some shareholders with higher value holdings may struggle to find a medallion service provider beyond your US and Canada because the medallion stamp that providers have had a maximum share value assigned. Jayna Rana adds: Redmayne Bentley is merely one of lots of stock agents who can provide you with this type of service. Others include Killik & Charles, and Co-Stanley.