Investors who are in line for free shares through the imminent First Active flotation are being given the option to hold their shares through a nominee account. The accounts operate like a bank account, where investors regularly receive statements detailing how many shares they own. This avoids the need to hold onto shares certificates and means that shares held in these accounts can be bought, sold or transferred to other names without an exchange of paper documents.

The shares are registered in the name of a nominee company, which holds them on behalf of these investors. The shareholders remain the beneficial owners of the shares and will receive any dividends declared by the company.

First Active believes the nominee account facility will make shareholding more convenient and more cost effective for shareholders.

Investors can withdraw from the First Active Nominee Account at any time and receive a share certificate. Anyone weighing up their options should note that by opting for the nominee account they can only deal in their shares through First Active's share-dealing service, to be operated by Davy Stockbrokers. The nominee account service will be provided free of charge initially, but a charge may be introduced in the future.