No one has gone through life without losing something and if we’re lucky it’s usually nothing of value. But with shareholders, sometimes they will lose their share certificates. ‘Lose’ can mean anything from damaging or misplacing the share certificates right through to having them stolen.
Below we will answer some common questions we get from individuals who have lost their share certificates and are looking to get them replaced.
What should I do if I have lost a share certificate?
The loss of the certificate should be reported to the Registrar so that they can put a stop on any share dealings. The Registrar will usually provide you with an indemnity form (for a small charge), which they will require to be countersigned by an Insurer.
Can I get an indemnity for any share certificate?
As long as the shares are quoted on the UK stock exchange. However, if this is not the case, please give us a call as we may still be able to help.
Does the applicant have to be a UK resident?
Not necessarily, we have been able to assist foreign nationals and companies too.
What information will I need to provide to the Insurer?
Insurers will require completion of a proposal form, with details of the name and address of the shareholder, the value of the holding and the circumstances of the loss. Photographic proof of identity in the form of driving licence or passport and proof of residency will also be needed, and a copy of the last dividend statement, if any. For larger shareholdings, a reference from a solicitor or other professional may be needed.
What if I am acting for the Estate of a deceased person or on behalf of a Company?
In the case of an Estate, Insurers will require a copy of the Grant of Probate and identification and residency proofs from the Executors. For a Company, Insurers will require proof that the signatories to the indemnity have the appropriate authority.
How much will an Indemnity cost?
Charges differ depending on the value of the missing certificates and the complexity of the situation. For a simple indemnity, premiums start at £250 plus Insurance Premium Tax.
How long will it take to obtain an Indemnity?
Usually 10-14 days, however, Insurers may require additional information or to contact the Registrar for confirmation, so a complex case may take longer.
How do I know that my documents are secure?
We recommend that you post any documents to us by recorded delivery, and we will ensure that all documents sent to Insurers and then passed back to you are sent in a similar manner. The only original documents that are required are the signed proposal and indemnity forms, photocopies are acceptable for proofs of identity, etc.
If you have lost your share certificates, then Aston Lark's experienced team are on hand to help you.