Prudential’s principal Register of Members is maintained in the UK by our Registrar, Equiniti. In addition, Prudential has established an Overseas Branch Register, for members who are resident in HK. The HK Branch Register is maintained by our HK Registrar, Computershare. With the assistance of our Registrars, shareholders can transfer their Prudential shares from one register to the other, using the ‘shunting’ procedure described on this page.
Processing times and fees
For standard applications, the shunting process takes up to 11 business days (6 business days in HK plus 5 business days in the UK) however, if a shareholder wants to register their shares in a different name in HK, the process can take up to 16 business days. Processing times can be reduced to just 4 business days (2 business days in HK plus 2 business days in the UK) by paying higher processing fees, which are detailed in the table below.
To shunt Prudential shares from the principal Register in the UK to the Branch Register in HK, UK shareholders must post a Form of Request for removal of shares to Equiniti, together with a cheque for the Registrar’s fees and, if relevant, the corresponding share certificates. For uncertificated shares held in CREST, UK shareholders can submit the Form of Request for removal of UK shares to Equiniti by email, saving time. They must also lodge a Stock Withdrawal Instruction through CREST. Rather than posting a cheque, Equiniti’s fees in relation to shares held in CREST will be invoiced to the lodging Broker. Once a share has been removed to the HK Branch Register, it may be deposited into CCASS and then traded on the Hong Kong Stock Exchange.
Similarly, to shunt Prudential shares from the Branch Register in HK to the principal register in the UK, HK shareholders must submit a Form of Request for removal of HK shares to Computershare, together with a cheque for the Registrar’s fees and, if relevant, the corresponding share certificates. HK shareholders who hold their HK shares in a CCASS account will have to arrange for their HK shares to be withdrawn from CCASS in accordance with the rules of CCASS and re-register the HK shares into their own name before the removal of the HK shares can be executed. Once a share has been removed to the UK register, it may be deposited into CREST and then traded on the London Stock Exchange.
The following table sets out the fees payable to both Equiniti and Computershare on application to transfer Prudential shares between the two registers:
||Standard Transfer Fees
||Express Transfer Fees
||HK$25.00 base + HK$2.50 per certificate cancelled
||0.05% of market value of shares removed
||Charges based on the value of the transaction:
|£1 up to £500,000
||£110 + VAT
|£500,001 to £1,000,000
||£220 + VAT
|£1,000,001 to £2,000,000
||£330 + VAT
||£400 + VAT
For more information or assistance in completing the shunting process, please contact our Registrars Equiniti or Computershare as follows:
|UK registered shareholders
||Contact Equiniti on 0371 384 2035 (from inside the UK) or +44 (0)121 415 7026 (from outside the UK)
|Hong Kong registered shareholders
||Contact Computershare Hong Kong on +852 2862 8699
Download the Removal Request Form (UK Register to Hong Kong Branch Register)
Download the Removal Request Form (Hong Kong Branch Register to UK Register)