Children’s charity Variety is urging NZ investors to dust off their portfolios for any loose equities to send free to a good home.
Variety, which provides a broad range of support to disadvantaged children in NZ, will benefit this financial year as recipient of the ‘Shares for Good’ trust.
Established in 2006, Shares for Good – now a pro-bono joint venture between NZX, JB Were, Computershare and Link Market Services – encourages investors to hand over any ‘unmarketable’ NZ equity parcels to the trust, which bundles donations up via free brokerage services for a different charity every financial year.
According to the Shares for Good website, ‘unmarketable’ share blocks “generally means a holding with a value less than NZD$500”.
“It is called unmarketable because it may be difficult and/or expensive to sell,” the site says. “There are a number of reasons why a shareholder could have a holding like this including a fall in the share price, a dividend reinvestment or a bequest in a Will.”
While the concept marries charitable fund-raising with financial year administrative housekeeping, Share for Good says there is “no limit to the value” of NZ equity donations it can accept and sell “free of brokerage” on behalf of the selected charity.
Share donations may also be tax-deductible.
In a statement last week, Lorraine Taylor, Variety chief, said the Shares for Good campaign this year would “directly benefit children in need”.
“I implore and encourage anyone with unwanted shares to join us in our mission by selling these shares through Shares for Good, which will see 100 per cent of the proceeds directed to Variety,” Taylor said. “Big or small, any and all funds raised help us provide vital assistance to Kiwi kids in desperate need.”
Investors can donate any equities listed on the NZX Main Board to Shares for Good, except under special circumstances such as when a company is under administration – such as CBL, for example.
“Please note that we are unable to accept donations of unlisted securities or debt securities such as notes or bonds,” Shares for Good says.
Interested donors can visit the Shares for Good website for further information.