Shares and investors
The Isles of Scilly Steamship Company was founded with £20,000 raised by selling shares, mostly to Islanders.
Today the Isles of Scilly Steamship Company has more than 850 shareholders with 1.5 million shares in issue. In 2015 the company recognised the need to introduce a mechanism to allow shareholders to buy and sell their shares and so the company joined the share trading platform Asset Match.
Asset Match holds regulated share trading quarterly auctions matching buyers and sellers through the placing of bids conducted through a nominated share broker (our preferred broker is shareDeal active). It is a simple process which the highly experienced team at Asset Match can talk you through.
The Asset Match trading facility operates under its own code of practice which governs the behaviour of participants and the running of the periodic auctions. Asset Match operates an open auction system where volumes of bids and offers at different prices are displayed on its website together with the closing date of the auction. At the end of each auction period Asset Match pass this information through a non-discretionary algorithm that determines a “market-derived” share price based on supply and demand and allocates transactions accordingly. Bids and offers may be made and withdrawn at any time before the closing date of each auction.
Share FAQs
Shareholders holding greater than 1,000 shares are entitled to a 50% discount on Scillonian tickets and a 10% discount on Skybus tickets. Shareholders bookings are subject to reduced amendment and cancellation fees compared to brochure fare bookings. The spouse of a shareholder gets the same discount on Scillonian but does not get a discount on Skybus.
Shareholders are invited to the Company’s AGM which is held in the Autumn each year. Shareholders will also receive a copy of the annual report in September and an interim trading update in November.
Our share register has been administered by Neville Registrars since 2015. You can find out further information about Neville Registrars on their website – www.nevilleregistrars.co.uk
Please contact Neville Registrars:
Address: Neville Registrars Limited Neville House Steel Park Road Halesowen B62 8HD
Telephone: 0121 585 1131
Email: denise@nevilleregistrars.co.uk
Website: www.nevilleregistrars.co.uk
You must register to buy or sell shares on the Asset Match platform. Further details can be found at:
Website: www.assetmatch.com
Contact them to talk you through the processes and procedures required to join the platform.
Telephone: +44 (0) 207 248 2788.
Shares are registered for sale on the Asset Match platform and auctions are held quarterly.
Email: shares@issg.co.uk
You will need to provide some details for yourself and the person you are gifting the shares to.
You will need to complete a J30 stock transfer form and send the completed form to Neville Registrars.
Address: Neville Registrars Limited Neville House Steel Park Road Halesowen B62 8HD
Telephone: 0121 585 1131
Email: denise@nevilleregistrars.co.uk
Please also ensure that you send your original share certificates to confirm you are the shareholder.
Please contact Neville Registrars to inform the Registrar of details of the deceased shareholder.
Address: Neville Registrars Limited Neville House Steel Park Road Halesowen B62 8HD
Telephone: 0121 585 1131
Email: denise@nevilleregistrars.co.uk
They will need:
- The original death certificate
- The original share certificates
- A sealed copy of the grant of probate
On receipt of the above documents Neville Registrars will update the register and send out new share certificates.
To transfer shares to a beneficiary of the estate you will need to update the Register by following the step above.
Please email details of the transfer to shares@issg.co.uk.
The Executor will need to complete a J30 stock transfer form and send this with a copy of the sealed grant of probate to Neville Registrars.
If you need further assistance:
Email: shares@issg.co.uk
or contact Asset Match
Website: www.assetmatch.com
Telephone: +44 (0) 207 248 2788.