To sell your shares you simply need to provide information about yourself (to prove who you are) and your share holding. Both of these steps can be completed online – there is no need to email or mail documents, unless a special situation applies such as deceased estate or shares held by a trust or company (more below).
What You Need to Know About the Sale of Shares
The process is not difficult, even if you have never bought or sold a share in your life – like most of our customers.
- You will need a Holding Statement OR Dividend Statement for the shares that you want to sell. These have been sent to you by the share registry at some point in the past. It doesn’t matter if the document is old, your Holder Number doesn’t normally change. To see some examples of what you are looking for, click this link. If you don’t have these documents, click here to see how you can obtain a new copy.
- Complete our online share sale form. As part of this process, you will asked if you want to use our Value Service or Express Service (same day sale), the difference being the time to process your sale, and the associated brokerage costs. More on brokerage costs here.
- We will confirm your shareholding with the share registry, check your online identity proofs and sell your shares at the best available market. You will receive confirmation of the share sale, including the amount due to you on the afternoon of the day the shares are sold.
- The proceeds of your share sale are sent to you by cheque or bank deposit on the 3rd day following your the date your shares where sold. See our blog post on this topic – when will I get my money!
Special Situation Share Sales
We can sell shares held in joint names, deceased estates, maiden names, private companies or trusts. The process is the same, just indicate if any of these situation apply when you are prompted by our online form.