aceastwood

I have shares in a UK company - I have the share certificate. I have found over the last few years that stockbrokers I have used in the UK before will no longer trade shares for a US resident. Do you know of any way I can sell shares? I know I can transfer them to someone else, i.e. just give them away. Is there any way I can do a private sale without involving a broker, e.g. I sell them to my mum (paying whatever stamp duty is incurred), then she can choose to keep or sell them.

Alternatively, I do visit the UK periodically - can I just walk into a bank with my certificate and sell the shares? I do still have a UK bank account I could pay the proceeds into.

cranston

contact your UK bank they should be able to help you.

aceastwood

I'm afraid not. Some shares I was previously unable to sell and in the end just gave away were shares held by the brokerage arm of my bank (Barclays). And they were shares in Barclays too.

JAJ

I see no reason why you can't do a private sale ... contact the registrar of the company to discuss.

Try a stockbroker rather than a bank.

Jerseygirl

Why don't you keep hold of them?

aceastwood

I did contact the registrar of the company and they told me that they cannot sell shares on behalf of a US resident. I am still waiting their response as to whether I can do a private sale without their involvement, so I thought I would post a question here also.

aceastwood

They are no use to me if I cannot sell them one day. I have no intention of moving back to the UK.

JAJ

The person on the phone might not understand what a private sale is. Doe the share certificates say anything about transfer of ownership?

And if they still say no you may want to challenge that at a higher level in the company as if it is a plc they may be in breach of company law if they refuse to register a transfer of ownership of shares.

aceastwood

Transfer of ownership is easy - I have done that before. Transfer for free, that is. The standard share transfer form does have a section for "consideration", i.e. monies paid, so I expect I can use the transfer form to sell shares. But a) I would like confirmation of that, and b) I would like to know how the buyer (who would likely be a relative who is just going to sell them) handles paying stamp duty.

But I would prefer to find a method by which I can sell the shares on the open market rather than drag a relative into this.

Voltore

I too am in the same position, having shares in various companies and NatWest kicked me to the curb some time ago.

I went into a couple of banks (including my own branch) last time I was back and basically, can't accept trades from US residents.!!!

I've opened an ETrade Global account which you can lodge UK share certificates in. They'll send you a CREST form, although they did say it will take up to a month for it to appear in the account, then you can trade in them.

I haven't gotten off my derriere to send them back yet so I have no idea whether it's good or not. Very few options.

Manc

Rincewind used Edward Jones to sell UK shares from the USA......

pricey at $50 for the job...... but you pay for the lack of hassle.