This dealing service is available to shareholders in Sanlam Share Account and holders of share certificates. The latter will be dematerialised by Computershare before the shares are sold.
It offers an inexpensive and easy method of share dealing for the smaller shareholder. The main differences between share dealing through this service and dealing through a stockbroker are the following:
- Your shares are bought or sold by a Sanlam-nominated broker via the JSE/NSX at the volume-weighted average price for the particular day on which your instruction is carried out. Therefore, you cannot set price limits as would be the case if you dealt through a stockbroker.
- The trading fees for the smaller shareholder are cheaper than those for dealing through a stockbroker.
Transferring your shares in Sanlam Share Account to a stockbroker to be sold, or transferring shares bought by a stockbroker to Sanlam Share Account will have cost implications for you. This is explained in
section 1. Therefore, it is better to trade the shares through Computershare's share dealing service, particularly if the number of shares is small.
The complete terms and conditions of Computershare's share dealing service can be obtained from Computershare.
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