Expert: Steven Taylor - 11/3/2011

Question
Dear Sirs,

I run a boutique stock brokerage in Peru.  A client of our firm brought a stock certificate of a Canadian-based company called Peruvian Oils & Minerals Limited, which I believe no longer exists. Is there a way I could track this company to find out what happened with it in order to see if my client could realize some value out of his certificate.  

Any help or guidance you may provide will be greatly appreciated.
Thanks
Daniel Olaechea

Answer
Daniel, from the information I have available:

Peruvian Oils changed its name to Pominex, then did a 1 for 15 reverse stock split and became Canarchon Holdings Limited. Canarchon was acquired in 1991 by R.E.A. Holdings PLC of the UK. Holders of more than 200 Canarchon shares received 0.50 of a R.E.A. share for each Canarchon share held, while those with under 200 shares received $2.899 cash per share.

Since the acquisition was 20 years ago, the cash would probably be difficult to track down, but R.E.A is still around. I suggest you contact them directly and see what information they have available.

http://www.rea.co.uk/rea/en/home