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I hold a few Woodside shares with Lloyds however Woodside has delisted from the London Stock market and I missed the deadline to cash them in. I believe I need to contact a stockbroker who deals with Australian shares to get them transferred out from Lloyds. I think the value is about £600 so do not want to incur large fees. Do you have any advice as to how I can action. Many thanks PD
Thanks for this – we got in touch with Computershare who said the LSE shares will have been transferred to the Australian market and recommended emailing Computershare Australia at wplshareplans@computershare.com.au or calling on +61 3 9415 4282 to arrange a sale.
We also spoke to Fraser Allan, Head of Premium Client Services at CMC Markets Australia, who said:
Companies can handle this type of corporate action in several different ways so there isn’t a single answer for all scenarios.
However, in the case of Woodside delisting from the LSE, the holding was automatically converted to the Australian share register on a 1:1 basis on 29 November 2024. Shareholders did not have to take any action for this to occur.
That means stock is now an issuer sponsored holding (rather than broker sponsored) and shareholders will have a paper certificate with a unique Securityholder Reference Number (SRN).
To hold the stock with a broker the securityholder needs to convert them from issuer to CHESS. This means they will then be held with a broker and can be traded electronically.
The process of converting the shares does not incur any fees.
With CMC, this process can be completed on the trading platform directly and provided account details match between the registry and broker it can take 24 hours.
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