Our one off share sales service caters to anyone wanting to sell shares quickly that are held with a share registry (also known issuer sponsored share holdings). Commonly, shares acquired through IPOs, capital raisings, employee share incentive plans, inheritance, or deceased estate may be registered this way. If the shares are registered in your name and you have the Security Reference Number (SRN) it is an easy process to sell your shares with us.
The advantage of our one off sell only service is that there are less requirements than opening a full trading account. This is great if you only want to sell one parcel of shares and want to get access to the proceeds of the sale in a hurry.
There are two options for selling shares as a one off sale (also called a one off trade). Our most popular option is the "Express" service which is done completely online with sale proceeds disbursed in as little as 2 days. The other option is the "Value" option which requires more work on your behalf, but attracts a lower fee.
Probably the best way to describe the one off sales process is to give an example of a recent real-life sale that we carried out for a very happy client.
|Day 1||A new one off express sale application was completed online by the client in 15 minutes.|
|Day 2||Sale order was placed into market by our expert desk staff.|
|Day 2||Trade Confirmation sent directly to client via email.|
|Day 3||Sale proceeds deposited into client’s nominated bank account.|
|Day 4||Funds cleared in client’s bank account.|
|Day 4||We received the following email from the client.|
This email is to give you feedback on the below transaction that was carried out on my behalf yesterday.
The process was extremely simple, quick and efficient.
I tried a few of your competitors until I came across amscot and very pleased I did.
I was extremely satisfied at the service provided and the person who called me regarding the sale to market was very efficient.
I will certainly use amscot in the future for any one off sales that I need completed. Also your company were extremely cost effective.
Please pass on my compliments to the relevant department.
The five pieces of information you will need to check before starting an online sale are:
In Australia shares can be held with a share registry (issuer sponsored) or held with CHESS (broker sponsored). If the shares are issuer sponsored you should have received holdings or dividend statements from the share registry. Some of the bigger share registries in Australia include:
If you have received statements from any of these registries in regards to your share holdings there is a good chance that your holdings are issuer sponsored.
Another way to confirm this is to check the identification number that has been issued for your holding. The registries allocate numbers called Security Reference Numbers (SRNs) starting with an I or C (e.g. I0123456789 or C0123456789). CHESS, which is the ASX's share register, uses numbers called Holder Identification Numbers (HINs) that start with an X (e.g. X0123456789). If your holding is with CHESS we can still sell your shares, but you would be required to open a normal share trading account.
The easiest place to find your Security Reference Number (SRN) is on the last statement issued to you by the
share registry. See samples of statements below:
(click to enlarge)
If you only have your SRN, but no other details you may still be able locate the complete details of you holdings online. Most share registries have a facility for investors on their websites that will allow you to search for the details of your holdings using the SRN, your full name (including middle name) and your address or postcode. The details must match the details held on file exactly, so if you have changed address since acquiring the shares it is worthwhile to try old addresses or postcodes if your search results are unsuccessful.
Please Note: If you find out that the registered address is a previous address, you will need to contact the share registry concerned to have the address updated before your shares can be sold online.
If you are unable to locate the SRN but you are confident that you hold shares in an ASX listed company through a share registry, we can perform an electronic search for you requiring only your name and address at the cost of $27.50. You can still use our express service, with the cost of the SRN search being deducted from the sale proceeds.
If your shares are registered on an SRN (share registry) then we can sell your shares for you through our one off sales service. Many companies such as IAG, QAN, AMP, TLS, BOQ, MPL, QRN, MYS, NIB, and SCG have offered stock through demutualisations, privatisations or IPOs to the public where the issued share holdings have been registered with a share registry.
The details required for deceased estate sales often vary and are sometimes complicated depending on the particular circumstances. For this reason we recommend that you contact one of our team members rather than use our online sale facility. Our staff have a huge amount of experience with deceased estate sales and can advise you on the best way to carry out the sale quickly.
Lots of people aquire shares through employee share incentive schemes that often end up being allocated as issuer sponsored share holdings. For instance, large Australian public companies such as NAB, WES, WBC, WOW, BOQ, CBA, BHP, RIO, ANZ, QRN, and DOW, have such active schemes.
As long as the shares issued to you are in an Australian publicly listed company and you have the information described here, there should be no problem using our service to sell your shares.
The proceeds from the sale of your shares can be paid out by direct deposit into your Australian bank account or posted out by cheque.
Direct deposit to your account will provide quickest access to the funds with proceeds deposited into your account two ASX business days after the sale of the shares on market. If you choose this option you will need to provide the bank BSB and account number and the account must be in the same name as the share holding.
Optionally you can choose to have the funds disbursed by cheque to your Australian postal address. Cheques will be posted 2 ASX business days after the sale transaction, but may take up to 5 days to arrive depending on the postal service.
If you choose to use the Value One Off Share Sale service you will need to provide to us a certfied true copy of your original identification document(s). Commonly, people who can certify documents for you include:
This list is not inclusive. Please download the application form for full details of the requirements for certifying ID including a complete list of acceptable ID documents and the people who can certify copies of these documents for you.