| What is FIRST SHARE? |
members willing to sell shares. First Share maintains a database of members who own shares in the companies listed in the First Share program, and who have offered to sell single shares to other members. When a member submits a request to First Share to purchase one share of a company, First Share refers the request to a member who is willing to sell a share of the company requested. First Share mails confirmation of the request to the purchasing member, which includes the name and address of the selling member and the name and telephone number of the company DRP administrator. The selling member contacts the member requesting to purchase the share by forwarding a written offer to sell a single share at a specified price plus a small handling fee for the seller's expenses. Upon receipt of the accepted offer and registration information from the purchaser, plus the agreed priced of the share and the handling fee, the seller forwards the registration information to the company's stock transfer agent. The company's stock transfer agent registers one share in the purchaser's name and forwards a stock certificate to the purchaser OR opens a DRP account in the purchaser's name. After the share is registered in the name supplied by the purchaser, the registered owner may enroll in the company's direct stock purchase plan and buy and sell shares directly through the company's plan.
purchase program to another investor who is willing to assist the purchasing member in acquiring a qualifying share. All of the companies in the First Share program require the ownership of only one share to enroll in their direct purchase plan.
members. The buyer and seller may agree on any method for pricing the share. Typically the parties use the market closing price on a specified date as the selling price.
daily in the Wall Street Journal and Investors Business Daily. Stock prices are also available at various sites on the Internet.
The person in whose name the first share is registered will automatically receive information about the company's direct stock purchase plan soon after registration as a shareholder.
shares as you wish. Minors' accounts must be registered under the name of an adult custodian.
member upon receipt, and request fees are not refundable, even if you decide not to purchase the share. The typical form of agreement between buyer and seller contains a provision requiring the purchaser to return the purchase agreement and payment to seller within a specified period (often 15 days). Your referral requests should be planned accordingly.
also request issuance of a certificate for shares from a dividend reinvestment account and sell such shares through a broker. You may also become a selling member of First Share and sell single shares to other members by submitting a list of shares available for sale to First Share.
fax, email, or mail. The seller promptly mails an offer to the purchaser. Upon receipt of the accepted offer and payment for the share from the buyer, the seller promptly submits the transfer request to the company's transfer agent. The transfer agent may take from two days to two months to issue a certificate or statement of account, although new registration transfers are normally completed within ten to fifteen days after transfer instructions are received by the transfer agent.
request fee rate. These companies are listed in the Portfolio Builder section of the current First Share company list. Only those companies listed in the Portfolio Builder section are available at the discounted request fee; all other companies are subject to the standard request fee.
not included in the First Share program. Disney, as well as some other companies, requires the ownership of more than one share.
application and company requests may be submitted online through our secure server.
requested.
referral requests, and a current First Share company list. If you request referrals with your membership application you will receive a notice which will list the name, address, and telephone number of the member to whom your request has been referred. The name and telephone number of the company's DRP administrator will also be included.
requests for all other companies in the First Share program are $10 per request, payable to First Share. Selling members usually charge a handling fee to cover their expenses (a typical fee is $7.50) in addition to the price of the share.
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