The Lemon Fool

Hi all,

Principal question: does anyone know any brokers who will re-materialise shares into certificated form please?

Reason: I have VCT shares coming up to the 5y mark in March 22 (Titan), April (Mobeus) and May 23 (Downing). I like things tidy so de-materialised my VCT share certificates into HL so they didn't get lost etc. It appears this was an admin mistake. Octopus are saying I can only participate in their buyback if I have certificates on the register (this is 5% discount to NAV so ~100p). HL say they could work to sell the holding in the market at 97.5 but cannot speak with Octopus to sell the shares at the Octopus buybacks. I used up my full VCT allowance so this 2.5p is a decent amount of cash. HL do not re-materialise shares so to sell my VCT holding I will have to transfer to a new broker which can re-materialise the shares and then sell them via the buyback process - what a headache.

As an aside I am a still a bit flabbergasted that I seem to be in a pretty silly situation and such a big providers as HL & Octopus has not encountered this and have a system in place for selling. I've called both sides twice now to politely confirm this is definitely the case - please let me know if this is wrong and there is any easier way of doing this.

Many thanks

walkeia

Walkeia
This has come up before in a slightly different format but if you use a platform that allows you to put on a limit order which they then inform the buying in market maker of you can participate in buy backs.
I use Jarvis for this and I leave a limit sale on for 3 months and have always participated in the buy back I wanted, they email me on the day of the buy back asking if I am happy to sell at the price they are being bought in at.
They have 2 accounts which do this, Share Deal Active where you can talk to a dealer on a phone or X-O which is cheaper but email only.
I use active but fellow posters use x-o and also reported that they participated in buy backs.
Good luck on your sales, always nice to recycle a vct.

Thank you Barchid.

This answers my question fully and thankfully means I do not have to go through the process suggested by HL of re-materialising my VCT shares. They mentioned this buyback service but said it was 'market base' which I found somewhat confusing. So confirmation from yourself that this is effectively the same as participating in the direct buyback (just via the listed market) is comforting. I will speak with HL in March and place my a limit order / my details into the buyback pool.

As a new VCT investor this year I have been buying through Wealth Club and then transferring certs into X-o.

Wealth Club have been great but WOW X-o have been fantastic. All four certs I have posted have been in my general investment account the following day.

Set up of the account was easy and the platform is no frills, which I like.

Thanks for the recommendation on here for X-o. Hoping they are as good in 5 years time when I need to sell.