Canadian Stocks/Old Shares
I have shares in my late parents name, purchased in 1972, from DRG Limited, 23 Laird Dr, Toronto, ON. I have researched DRG Limited on Wikipedia, the company has been sold many times and I believe is owned by Hamelin Brands, Caen, France now. I have been trying for 1 year now to find out if they are worth anything. I have spoken to 2 banks, one told me to do it myself. I have no idea where to go to find out if they shares are worth anything. I believe the current company is a private company not public. Is there a company or bank you could recommend who can actually verify if these shares have any value. Thanks.
Lynne, from the information I have available, DRG changed its name to DRG Inc. before it was acquired for $27 cash per share in 1987. Registered shareholders should have received a check at that time, and it is not unusual that certificates would not be required to be sent to the transfer agent in order to be paid. If they were not paid, the money would have been turned over to the government for safekeeping. In the outside chance this is the case, you can try to see if the money is still available - you will need to search the missing property office of every State or Province in which your parents lived from the time of the purchase in 1972 until the acquisition in 1987. You can search many of them online at www.missingmoney.com and www.naupa.org.