How to find the custodian?

[povtasci]

Hi All


Recently I received some amount of shares from the company I work for.

1. Share are registered in ASX
2. I have SRN number
3. I can see my shares amount in ComputerShare

now I want to sell them, but because I'm not a resident of Australia, ComputerShare says you can't sell them on their platform. When I asked about transferring shares from ComputerShare to my local broker side they answered that ComputerShare is not the custodian of my shares.


So how can I find the custodian of my shares if I have SRN?

Is there any way?

 

[peter2]

Computershare manages the corporate share register only (communications between company and it's shareholders).

If you have the SRN but no HIN (holder id #) then you are the custodian of the shares.

In order to sell them you'll have to open an account with an ASX broker in the same name as the share holding. Then you transfer the shares to the broker. The broker will issue you with a HIN. Once the shares are held by the broker you may sell them and transfer the funds to the bank account nominated when your opened the broker account (must be in the same name as the shares).

Many many years ago there was an ASX broker that would sell shares with an SRN only (visitor trade) but I don't know if that's available today. The broker has changed names several times since then.

 

[Country Lad]

Many many years ago there was an ASX broker that would sell shares with an SRN only (visitor trade) but I don't know if that's available today. The broker has changed names several times since then.

Could be the same one I used years ago (Henderson) and after many iterations is now Bell Potter. Maybe @povtasci should try them first.

 

[Dona Ferentes]

Not sure how non resident status affects opening a broker account. Do you have Aust bank account? You'll need 100 point check for AML/CTA.

Alternatively, maybe do an off market transfer to a (trusted) local who already has a HIN, then sort it out between you. (Close family member)?

 

[cynic]

....
Alternatively, maybe do an off market transfer to a (trusted) local who already has a HIN, then sort it out between you. (Close family member)?

The alternative you're suggesting may have some taxation/ and/or Government entitlement implications for the trusted local. (Just thought I'd mention this as something that needs to be born in mind.)

 

[Dona Ferentes]

The alternative you're suggesting may have some taxation/ and/or Government entitlement implications for the trusted local. (Just thought I'd mention this as something that needs to be born in mind.)

well, he wants to sell them, so there will be tax implications somewhere.

Another suggestion would be to get professional advice.

 

[povtasci]

Thank you for the response.

@peter2 @Country Lad @Dona Ferentes - do you know any online Australian broker who can create an account (HIN) for me and will help to transfer shares from that account to the local broker account?


Regards,
Hayk

 

[Dona Ferentes]

Again, you will need to meet the 100 point AML/CTA requirements to establish a broker account. Do you have an Australian Bank account? because if you do this is by far the easiest route to follow by linking the existing bank acct to the broker. CBA = Commsec, NAB = nabtrade and Westpac /St George have an broker setup .. ANZ did but slipped (ETrade then CMC).

 

[povtasci]

Again, you will need to meet the 100 point AML/CTA requirements to establish a broker account. Do you have an Australian Bank account? because if you do this is by far the easiest route to follow by linking the existing bank acct to the broker. CBA = Commsec, NAB = nabtrade and Westpac /St George have an broker setup .. ANZ did but slipped (ETrade then CMC).

Nope, I don't have it. will check the brokers which you mentioned.

Thanks a lot

 

[PetEarwig]

I'm wondering if there aren't other employees in a similar situation? Wonder if you were to ask some questions of the HR department of the firm that you work for regarding ways that you can cash in the shares. I'm sure you're not the only one in that situation. Craig