Expert: Steven Taylor - 1/24/2010

Question
Steve, I recently found a Sapphire Petroleums LTD cert # NY59099/100 SHARES, dated MAY 2, 1955. Along with that, a Cabol Enterprises LTD formally Sapphire Pet Ltd (hereinafter called the "company") Letter of Transmittal.  
My (deceased) father's name is on this letter, however, no certificate numbers are filled in.  From what I read, this new company was to exchange 10 Sapphire shares for 1 Cabol share - yet nothing was recorded nor signed.
I see that Sapphire is still around in England. I am not sure if I should just put this away as memories or research to see if there is something sitting out there. And since nothing was signed requesting the issue of factional share, I am wondering if this transaction was ever completed.
Would you by any chance be able to guide me on where to go from here?

Thank you for your time.

Sincerely, Lisa C

Answer
Lisa, from the information I have available, the shares have no current value. Sapphire did perform a 1 for 10 reverse split and became Cabol Enterprises. Cabol later quit business and lost its charter in 1976.

For the English Sapphire, there is no relation. Many companies have the same name, but are incorporated in different jurisdictions, which is how you can tell them apart.