On Thu, 28 Sep 2006 10:14:20 -0500, "edw" <google[at]k9corner.com> wrote:

- quote -

I don't know if this would apply to you. However, I have several
retirement brokerage accounts with Fidelity. They have an international
desk that handles that sort of thing. (I have a position in a company that
recently delisted their ADR on the NYSE and is now listed on the LSE).
They will handle the sale for me when it comes time to close the position.

I would have thought other large brokerages would also have international
desks to handle this sort of thing.
--ron


======================================= MODERATOR'S COMMENT:
Please trim the post to which you are responding. "Trim" means that except for a FEW lines to add context, the previous post is deleted.

"edw" <google[at]k9corner.com> writes:

[re: sharesave program with company-issued options and
payroll deductions to accumulate enough $$ to exercise]

When the sharesave came due, if you exercised the options -
whether you held the shares or did the exercise-and-immediately-
sell route, it was almost certainly done through a UK
brokerage. (I had a similar situation not too long ago and
went the exercise-and-immediate-sale route)

- quote -

If you exercised and took the shares - *how* did you take the
shares - presumably they are being held somewhere already for
you. That brokerage - probably a UK brokerage - can do the
sale for you. It'll generate pounds, not dollars, and you'll
have to do a currency exchange, too, but you need to review
your paperwork and see where those shares went. When ours came
due, we were told they'd automatically open an account for
us to hold the stock if we decided to hold rather than sell.
You might already have a brokerage account in London.

In theory, you should be able to transfer those shares to
a domestic brokerage which also handles foreign exchanges
(ie. some of the larger, probably non-discount places like
Smith Barney almost certainly could handle this for you),
but it's probably not worth messing around with unless you
plan on keeping such an account open.


--
Plain Bread alone for e-mail, thanks. The rest gets trashed.
No HTML in E-Mail! -- http://www.expita.com/nomime.html
Are you posting responses that are easy for others to follow?
http://www.greenend.org.uk/rjk/2000/06/14/quoting

My current employer was owned by a British company that was traded on
the London Exchange. They use to also trade in US under an ADR, but got
out of ADR's soon after the S.OX rules came into effect.

They offered a stock program they called "Share Save" where you
could place a set amount of money aside to buy a fix amount of stock
that year at a discounted price but you had to stay with company for 3
yrs to collect the stock.
While you waited the three years you paid in each paycheck into an
account that was set up for you. At the 3 yr mark you could take your
cash out with out buying the stock OR buy the stock at the agreed upon
price.

The division I worked for was sold to another Non UK- European company.

Under the plan rules they paid you out cash or you could buy the stocks
using what you had accumulated in your account. If you went the stock
route you could just take stocks or you could take stocks and then
sell immediately using the company as a broker. This was a one time
offer. You could not go back to company to sell the stocks back to them
at a later date.

I decided to take stock since the current share price was low and I
knew they would go higher in the future.

Well I was right, and they went up 70% just 6 months later. But now I
have a dilemma
How do I sell the UK stocks? I went to the advertised brokers and none
seem to deal with foreign exchange stocks, only US stocks or ADR's.
And for internal policy reasons none would offer me advice where to go
to sell them.

How does an American sell London Exchange stocks in the US?

The Stock in question is United Business Media (UBM.L)