Expert: Steven Taylor - 6/9/2009

Question
I hold 100 Shares of Conduits-Amherst Limited since 11/80 registered with National Trust Company, Limited, Toronto, Transfer agent and registrar. Where are they now? Any value?

Answer
Mary Ann, from the information I have available, it appears the Company has been gone for a long time. In 1983, Aqua Gem acquired most of the Conduits for $1.27 per share, and then acquired the remainder in 1984 for $1.30 per share.

Usually in cases like this, where the acquirer cannot find all the outstanding shares and shareholders (i.e., you) they are allowed to preemptively acquire those shares (i.e, yours). However, they must pay the cash to the government if they cannot find you. The government then holds the funds in safekeeping for you for a certain period of time, waiting for either them to find you or, more likely, you to contact them. That period of time they hold the funds varies by state or province.  What you need to do is contact every unclaimed property office in which you lived from the time you acquired the shares in 11/80 until the time after the buyout. They would have likely turned the funds over to the government of whichever state or province which was your last known address. Hopefully, the funds went to a government which holds funds for 25+ years.

Fortunately, the internet has made it easy to search missing property records quickly and for free. Most States (and some Provinces) have put it all online which you can access from one portal - www.unclaimed.org. Search using the name exactly as it appears on the stock certificate, even if it is misspelled or abbreviated, as that is the name under which the government will be holding the funds.