Nominee and Safe-Custody

What is nominee?

Nominee is a service we offer alongside all our dealing accounts which allows James Sharp & Co to hold shares on your behalf in our nominee company

Why nominee?

• Secure, electronic holdings
• Shorter settlements have become the industry norm; a nominee holding is paperless thus speeding up the transaction process
• The removal of the chance of loss or damage to certificates
• Reduced courier and postal charges

Do I receive information from the companies I own?

Yes but not directly. For corporate actions such as takeovers and rights issues we will write to you and explain what is happening. You will not receive an annual report & accounts directly from the company registrars; however these are available online or in hardcopy on request.

Can I still vote on corporate actions and attend company meetings?

Yes. However if you wish to attend any company meetings contact us and we will arrange a proxy.

Are there any other advantages?

As you no longer appear on the share register personally, you are less likely to be called by rogue callers, scams, boiler-rooms etc - an increasingly annoying and worrying phenomenon for the private investor.

Do I still receive my dividends?

Yes, though not directly. We receive the dividends on your behalf and credit your client bank account which we will set up. Currently we use a private bank called Cater Allen (part of Santander) to operate these bank accounts.
We will accrue your dividends and send a cheque quarterly, if requested. Alternatively, we can accumulate dividends and hold them, pending future re-investment.

What happens when I buy or sell shares?

You will still receive a contract note as before. But that’s all! There is no need to sign a transfer form for a sale, nor will you be issued a certificate against a purchase. Proceeds of the sale can be requested from your client account at any time.

How do I know what I hold?

We keep a record of all your holdings. Our regulators (the FSA) require us to reconcile all our nominee’s accounts periodically. We confirm this record to you each year so there should be no confusion about your holdings.

How much will the nominee account cost?

There is no charge for transferring into a nominee. Unlike most brokerages we do not currently charge for operating a nominee service.

What to do if you wish to use the service or require more information?

Please contact Tina McGuinness for further information