Question
I hold 60 shares in Harsco Corporation Common Stock a USA Based company.
I was given these shares when I worked for there UK branch in Newport (HECKETTS LLANWERN) and would like to sell them from the UK. Could you advise if this can be done and what cost would apply? Also could you direct me to a company that could help sell these shares?Answer
At the time of writing the shares were trading at around $34 on the New York Stock Exchange, valuing your holding in the region of $2,000, or £1,250.
As you received the shares via Harsco when you worked for them I'd start by checking whether there's a scheme in place allowing (ex) employees to sell. Harsco shares are administered in the US by Mellon Investor Services, you can call them on 001 800 850 3508 (sorry, they don't publish an email address).
If there's no scheme in place then you'll need to check whether you hold the shares via a certificate (the US jargon for this is 'customer name') or via a stockbroker nominee account (US jargon is 'street name').
If already held via a stockbroker then you simply need to contact that stockbroker to arrange the sale.
If, as is more likely, you hold the certificate then you'll need to find a UK stockbroker willing to sell this for you. Unfortunately, this is easier said than done as these days stockbrokers offering a US trading facility only seem to do so via nominee accounts (that is, an account where the stockbroker technically owns the shares in a single account and gives you the right to your holding) - the only firm I know of that should be able to sell your certificate is Redmayne Bentley. They're not the cheapest, expect to pay at least £50 in charges, but should make selling straightforward.
If you've lost your certificate then you need to contact Mellon Investment Services to obtain a replacement.
An alternative is to try and transfer your certificate into a stockbrokers nominee account then sell (I believe TD Waterhouse will allow this). You might save a bit of money but this route is more hassle and will take longer to sell.
Good luck.
I hold 60 shares in Harsco Corporation Common Stock a USA Based company.
I was given these shares when I worked for there UK branch in Newport (HECKETTS LLANWERN) and would like to sell them from the UK. Could you advise if this can be done and what cost would apply? Also could you direct me to a company that could help sell these shares?Answer
At the time of writing the shares were trading at around $34 on the New York Stock Exchange, valuing your holding in the region of $2,000, or £1,250.
As you received the shares via Harsco when you worked for them I'd start by checking whether there's a scheme in place allowing (ex) employees to sell. Harsco shares are administered in the US by Mellon Investor Services, you can call them on 001 800 850 3508 (sorry, they don't publish an email address).
If there's no scheme in place then you'll need to check whether you hold the shares via a certificate (the US jargon for this is 'customer name') or via a stockbroker nominee account (US jargon is 'street name').
If already held via a stockbroker then you simply need to contact that stockbroker to arrange the sale.
If, as is more likely, you hold the certificate then you'll need to find a UK stockbroker willing to sell this for you. Unfortunately, this is easier said than done as these days stockbrokers offering a US trading facility only seem to do so via nominee accounts (that is, an account where the stockbroker technically owns the shares in a single account and gives you the right to your holding) - the only firm I know of that should be able to sell your certificate is Redmayne Bentley. They're not the cheapest, expect to pay at least £50 in charges, but should make selling straightforward.
If you've lost your certificate then you need to contact Mellon Investment Services to obtain a replacement.
An alternative is to try and transfer your certificate into a stockbrokers nominee account then sell (I believe TD Waterhouse will allow this). You might save a bit of money but this route is more hassle and will take longer to sell.
Good luck.
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