“We are about to renegotiate our Registrars fees and are trying to get a feel for current fee levels. The size of the register is 12,000 accounts (64 million shares in issue) and current fees are charged on a per unit basis amounting to approximately
We have a fixed fee of £28,500 for the current year. We have a large number of shares (1.7 billion) but only c.2,500 accounts and low turnover.
We are just coming to the end of a 3 year fixed fee which worked well, particularly as we agreed up front a limited set of instances when disbursements could be charged.
we are about half way though a five year fixed deal. we have about 10,000 accounts but quite a lot more shares in issue and pay circa £25k pa for basic services with other sevices such as the forged transfer insurance, dividend payments, AGM attendance etc on top.
We have a five year fixed fee arrangement with our Registrars. This includes annual incremental reductions based on expected register attrition rates (currently c. 23,500 accounts with 1.5 billion shares in issue). The agreement includes all share registration services, forged transfer insurance and out of pocket expenses with the current year’s fee around £90k. The contract expires at the end of 2012 and we have asked our Registrars to submit fee proposals for new arrangements.
We have almost 4,000 accounts and are charged c.£31k p.a. with re-negotiation every three years.
It is difficult to comment as the basis of charge (e.g. what is included in the basic fee) varies between registrars; having said that the current fee looks to be in a similar ball park to our basic fee. We are part way through our second fixed agreement. At the end of the first fixed term, and after some reasonably tough negotiation, we managed to hold the fee. We have, however, noticed that the extra costs e.g. disbursements have increased.
We have about half the number of holders but more shares in issue (200 m). We pay a fixed amount for registrar services including Information Rights Register, Deemed Consent lists, insurance, annual report storage and telehone charge (currently approx £32k p.a.). We pay in addition a pence per action charge for letters, dividends, cancellation of transfers and the like, which are separately itemised on our monthly bill. This rarely adds up to more than an additional £500 per month. The registrars also send one person to the AGM free of charge. The registrar may put up fees annually by inflation only.
We have a very small register with low turnover, paying two dividends a year. Looking at the invoice we have paid approximately £40,000 over the past year. We have not negotiated a fixed agreement
That figure looks reasonable for the number of accounts you have. We have just finished a 3 year fixed fee agreement, which worked well. Are getting alternative quotes for this year’s renewal.