QUESTION 1. What is the process for transferring shares to another party?
ANSWER 1. Complete the Stock Power and along with the Certificate, have them Medallion Stamp Signature Guaranteed by a Financial Institution or your Broker. Send us scanned copies by email and courier the originals to our Vancouver, BC office. If the seller is a corporation, you will also need to provide a Corporate Resolution authorizing the transfer and the corporate documents showing the person signing is a Director of the company that owns the shares. Payment can be made by Check, Wire Transfer, or Credit Card (Visa, MC, AMEX) at our office or on our website payment section.
QUESTION 2. What is the difference between having shares registered in Certificate, Book Entry, or DRS form?
ANSWER 2.
Certificates are printed on special paper with security features. All certificates must be delivered by courier with tracking. Courier’s could be expensive. If a certificate is lost, an Insurance Bond is required to have the certificate replaced. The Insurance Bond is usually a percentage of the value of the shares represented in the certificate. The holder of the certificate has custody of Certificated shares.
DRS (Direct Registration System) contains the same information that is on a certificate but is printed on regular paper and can be sent via mail or email. The Transfer Agent has custody of DRS shares.
Book Entry is simply an entry in our Shareholder Register. This is often done when a transfer is planned or when shareholders want to wait until the restrictive legend expires to have them issued in Certificate or DRS form to save money. The Transfer Agent has custody of Book Entry shares.
QUESTION 3. How do I deposit my shares into my brokerage account so I can trade them?
ANSWER 3. Simply deliver your Certificate or DRS statement to your broker who will arrange the deposit to your Cash, RRSP, TFSA, or other account.
QUESTION 4. I am a U.S. Resident and my shares have Restrictive Legend. How do I have the legend removed?
ANSWER 4. In order to have legend removed from shares owned by a U.S. Resident, you must engage an attorney to prepare a Legal Opinion and provide the opinion to the Transfer Agent.
QUESTION 5. I am not a resident of Canada or United States and I want to deposit my shares with my foreign broker. How do I do this?
ANSWER 5. Give your Certificate or DRS statement to your foreign broker. The broker will give it to their back office who will communicate with their Canadian or U.S. Custodian to have it deposited. The Custodian will initiate a deposit request in CDS or DTC and the Transfer Agent will confirm or reject the deposit based on the status of the shares. Transfer Agents do not initiate deposits.
QUESTION 6. Can National hold my assets in trust pending a sale?
ANSWER 6. National does not hold assets in trust as an Escrow Agent. National only offers Escrow services to Transfer Agent clients related to Transfer Agent functions. Clients include Issuers and their shareholders. If you need a trustee, you can look for an Attorney or a Trust Company who can act as a Trustee for your transaction.
