The costs

For regular monthly payments, a commission of 0.5% of the value of shares purchased each month (subject to a minimum charge of £1.50)
For lump sum or top-up payments, a commission of 0.5% of the value of shares purchased (subject to a minimum charge of £15.00)
For sales of shares held through the Share Service, a commission of 1% (subject to a minimum of £15.00) of the value of the shares sold
For transfers of shares out of the Share Service into your own name, an administration fee of £15.00 (inclusive of VAT)
Duplicate documentation can be provided on request. A list of other administration charges can be found in the Share Service Terms and Conditions which accompany this brochure

NOTE also that stamp duty reserve tax (currently 0.5% of the value of shares) is
payable on all purchases of shares.

To apply to join the Share Service, please read Questions & Answers and the accompanying Terms and Conditions. Complete, date and sign the Application Form.
PHP and CIRGT do not give advice on whether the Share Service is suitable for you and nothing in this brochure, or any other document or statement, pertinent to the Share Service, should be taken as a recommendation to buy, hold or sell PHP shares.If you are in any doubt as to the action you should take, you should seek advice from your stockbroker, bank manager, solicitor, accountant or other ndependent financial adviser authorised pursuant to the Financial Services and Markets Act 2000.
As with all stock exchange investments, the market price of PHP shares may fluctuate according to supply and demand, market conditions and other factors. The past performance of PHP shares is no indication of their future performance. The value of PHP shares and any income from them can fall as well as rise. There is a risk that you might not get back the full amount of yourinvestment or you might even lose your capital investment.
Investing in PHP shares through the Share Service should be considered as
part of a diversified portfolio.