The Lemon Fool

My friend is trying to establish probate on his cousin's estate. No will has been found as yet, but one is thought to have been written, what has been found are several certificates for shares in Chillington Corporation, dated 1986, these are for just 29 9.5% Cumulative Redeemable preference shares, the company has been re-named since then as PGI Group. I've looked them up, there's a distinct lack of phone numbers and email addresses, but their address is in the city, my question is selling/transferring shares in a private limited company, how is it done? How are they valued?I suppose the first thing to do is contact the company.
Any thoughts on how easy or not this might be? Will my friend need professional help?

Thanks in advance for any help,
David

scottnsilky wrote:My friend is trying to establish probate on his cousin's estate. No will has been found as yet, but one is thought to have been written, what has been found are several certificates for shares in Chillington Corporation, dated 1986, these are for just 29 9.5% Cumulative Redeemable preference shares, the company has been re-named since then as PGI Group. I've looked them up, there's a distinct lack of phone numbers and email addresses, but their address is in the city, my question is selling/transferring shares in a private limited company, how is it done? How are they valued?I suppose the first thing to do is contact the company.
Any thoughts on how easy or not this might be? Will my friend need professional help?

Thanks in advance for any help,
David

There's a contact facility by email for the Company Secretary on the contacts page here http://www.pgi-uk.com/contact-us/contacts/ which may be the first port of call. There's also a general enquiries telephone number shown. Other than that, much of the information in the Shareholders tab requires a "Client Login".

They should be able to tell you if the preference shares still exist and if there is a market for them. They may have been redeemed in the past or converted to ordinary shares or sold.

If you study the "Filings" at Companies House (https://beta.companieshouse.gov.uk/comp ... ng-history), you might be able to see mention of the prefs. I've had a quick look at the 2015 "Group of companies' accounts" and didn't spot them mentioned but I haven't spent much time on this.

PS It looks like they, when PGI Group Plc, were previously UK listed but were delisted in 2009 http://www.investegate.co.uk/pgi-group- ... 30063924U/

Thanks PD for your work, I think I found their website, but for some reason assumed it was a different company trading under the same name!Oh well. I have forwarded this to my friend.
Much appreciated,
David