Newbie: selling shares from former Building Society

[Penny Less 10]

Hello all

 

Apologies for this rather naive question, but I am totally new to trading and wondered if this also covered stocks and shares.

 

When the Woolwich Building Society (in the UK) decide to become a bank, I was given a set of shares which were re-valued when the Woolwich were taken over by Barclays Bank.

 

I was told that the shares were worth about £2,000. I wondered how I could sell my shares and the timescale for doing so. I suppose what concerns me is that share prices can peak and whilst I am sorting out the sale, they drop and I lose out!

 

Any advice you can give would be most welcome.

 

Penny

[Follow The Trend 10]

Penny Less,

 

You might want to check out the many online stockbrokers for a cheap trade, or you might like to go through your own bank if you are not confident doing the paperwork

 

While the commission will be a little higher through you bank, they will walk you through the process, which might be better for you.

[ezduzzit 10]

Since you clearly do not have a shares account with a broker there in the U.K. FTT's advice of working with your own bank (if they provide this service) or even with Barclays directly to liquidate the shares is probably the best avenue to pursue. Just be sure to explain to them your concerns about a prompt transaction so as to avoid a decline in value and make sure you are comfortable with their answer. If it requires them sending the shares off to a transfer agent or registrar somewhere be sure you get their promise of the settlement amount in writing before you turn over your shares. Oral promises will be denied when the stock drops 2 weeks later and your shares have still not been settled.

 

Happy Trading