Selling Santander shares

[Andy B]

Can anyone advise the best/easiest way to sell Santander shares from OZ. We moved here 12 years ago and had some free shares from the Alliance and Leicester sell- off which became Banco Santander. We now want to sell them but have been told by Santander that we cant as we are not Uk residents . They say the only way is to transfer them to someone in the UK which is a very lengthy process and get that person to sell them for us and send us the proceeds.Has anyone else been in the same situation and maybe found an easier way?

[Ken]

I'm assuming you're referring to some scheme whereby Santander offer a commission free sale to UK residents? You don't need the permission of the company to sell their shares. Any stockbroker will be happy to help (but for a fee).

[Andy B]

Thanks for the reply Ken. When I contacted Santander they said there was a fee of GBP 12 to sell and that because we are outside the EU we cant sell without a EU address. The shares are not worth much and I just want to offload them but will try your suggestion and find an Aussie stockbroker and see what they say.

[Wan2go]

Hi @Andy B

Did you get anywhere with this? I have just encountered the same problem!! And not being a high flying stock broker type am completely flummoxed for now......

Edited February 16, 2017 by Wan2go

[Andy B]

Not really. I contacted a stockbroker in Melbourne who wasn't really interested and said the fees to sell would nearly outweigh the value of the shares so haven't made much progress.