So, you know you have the shares, but you can’t find the paper certificate. In the digital age, this feels ridiculous, but for UK registrars, that piece of paper is the only proof of ownership.

To sell or transfer shares without the certificate, you must purchase a Letter of Indemnity.

What is a Letter of Indemnity? Think of it as insurance. You are paying the registrar (and their insurers) to cover the risk that the “lost” certificate might turn up later and be used fraudulently.

How much does it cost? The cost depends on the value of the shares:

• Assets under £50: Often free (countersigned by you).
• Assets over £100: Usually a flat admin fee (approx. £50) plus an insurance premium. This premium is typically 2-4% of the share value.

Example: If you have lost £10,000 worth of Shell shares, the replacement fee could be over £300.

Is it worth it? Before you pay these fees, you must be 100% sure the shares haven’t already been sold or transferred. Paying for an indemnity on shares that were sold 5 years ago is a common mistake in probate cases.

Check Before You Pay Never pay the indemnity fee until you have verified the holding is “Live.” Use Divica to perform a preliminary check on the Registrar and Company status before you commit to expensive replacement fees.

Example: If you have lost £10,000 worth of Shell shares, the replacement fee could be over £300.

Is it worth it? Before you pay these fees, you must be 100% sure the shares haven’t already been sold or transferred. Paying for an indemnity on shares that were sold 5 years ago is a common mistake in probate cases.

Check Before You Pay Never pay the indemnity fee until you have verified the holding is “Live.” Use Divica to perform a preliminary check on the Registrar and Company status before you commit to expensive replacement fees.