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Definition

These are physical share certificates. Prior to dematerialisation (the replacing of share certficiates with an electronic record of share ownership) all shares consisted of physical certificates which had to constantly be re-drawn as shares were traded and changed hands. Today ownership of shares is simply evidenced by an electronic record on the STRATE database. It is possible to obtain a physical share certificate as proof of ownership, there is an additional cost associated with it - and so very few people get one. Scrip is the collective noun for share certificates. The term is used today generally, to refer to shares.

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