Canadian Stocks/Paladin Petroleum Corporation (Ontario)
Expert: Steven Taylor - 7/3/2011
QuestionI recently came across a certificate for 375 shares of this stock purchased in 1986 and can't determine the final outcome of the many buy outs, etc. Is there currently any value to the certificate?
AnswerDonna, from the information I have available, the company went through several name changes and acquisitions. It had a 1 for 2 reverse split, then was acquired by Northrock on the basis of .19 Northrock for each 1 old share. Northrock was acquired in 2000 by Unocal for $10.10 cash per share.
The person named on the certificate should have received a check for the full amount in 2000. If not, it would have been turned over to the government for safekeeping in their name until they could claim it. They can search online in many States and Provinces for free at www.missingmoney.com and www.naupa.org.