Jointly owned shares

Currently, there are 0 users and 1 guest visiting this topic.
Viewing 5 posts - 1 through 5 (of 5 total)
  • Author
    Posts
  • #31734
    mp42
    Participant

    Your opinions on this would be most welcome.

    A claimant has provided a share certificate which confirms he owns 50,000 shares in a company. They are valued at 90p each so, on it’s own, this would mean his capital is too high to qualify for benefit.

    However, the share cert gives the names of 2 other people as “joint holders”. Our claimant states he has 16,000 shares, so he seems to be under the impression that ‘his’ shares represent roughly a third of the total amount.

    Have any of you come across this before and, if so, how did you deal with this? I’m inclined to get something in writing (at least) from the claimant which is signed by all parties to confirm the agreed split, but it has also been suggested that we could treat him as having access to all the potential capital from these.

    Hmmmmmmmm???

    #88781
    Anonymous
    Guest

    Is this a publicly traded company, like Tesco?

    If not, the notional value of a share (90p) doesn’t really mean anything. The shares are just a way of telling you that your claimant owns 32% of the company. You would need to look at the balance sheets to get an idea of how much the company is worth.

    #88782
    mp42
    Participant

    It’s a PLC.

    #88783
    Anonymous
    Guest

    OK, in that case I would treat it as jointly held capital. If the company is traded on the stock market there shouldn’t be any dificulty in the claimant selling [b:aae3bfd352]his[/b:aae3bfd352] 16,000 shares, so for capital I would use 16,000 x £0.90 (or whatever the value is in the FT) less 10% selling fees.

    #88784
    mp42
    Participant

    Thanks for that. We’ve gone with the same.

Viewing 5 posts - 1 through 5 (of 5 total)
  • You must be logged in to reply to this topic.