Money Grouse: Problems with share certificates

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The Independent Online
MANY people are opting to take dividends in the form of extra shares. One investor has found a big difference in the charges levied by different registrars for consolidating his ever-burgeoning number of share certificates into one.

Peter Frean, a retired jewellery importer from north London, said: 'Nowadays you have the option of taking shares instead of dividends and you accumulate ever so many share certificates. They just become a nuisance.'

He wished to consolidate seven Suter share certificates into one. He was surprised to learn that Northern Registrars wanted to charge him pounds 15 plus VAT for the consolidation.

He said: 'I have made similar requests to other registrars and they have all obliged without making any charges.' These include Lloyds, NatWest and Barclays.

Northern Registrars has been making the pounds 15 charge since last October, before when it was pounds 7.50. Stockbrokers said that this sort of fee had been gradually creeping in over the past few years.

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