Canadian Stocks/old stock certificates
I have recently came across some old stock certs that were purchased through A.C.MacPherson, they are: Gibralter Springs Capital Corporation, LePrint Express International Inc., Engineering Power Systems Group Inc. Oil Springs Energy Corp. Is there any value to any of these stocks? Also a letter from LePrint stating on Jan. 24, 2000 that its board of directors declared a divident in kind consisting of approx. 3,856,000 common shares of Brandera.com Inc (CDN:BRND;NASDAQ;BRND)to be distributed to shareholders of LePrint Express on the basis of approx. 0.3332 Brandera.com shares for each common share of Le Print Express held at the close of business on Feb.7,2000. Shares were rounded to the nearest number as no fractional shares were issued. What does this mean? Thank you for any information you can provide for me.
Patricia, from the information I have available:
Gibraltar Springs has no value. They ran into serious financial trouble and voluntarily wound-up in late 2005. There was no money left for shareholders after paying their little remaining funds to creditors.
Le Print has no current value. Le Print was suspended, delisted, and cease-traded in 2000 for failure to file required regulatory information. Those cease-trade orders remain in effect.
Engineering Power has no current value. The company went through numerous name changes and reverse splits and became Enernorth, which went bankrupt in 2007. No value for shareholders.
Oil Springs had several name changes and reverse stock splits (1 for 4, 1 for 2, and then another 1 for 4) and is currently Petro Basin Energy, which trades on the NEX Board of the TSX Venture Exchange for 3 cents per share. You will need to contact the current transfer agent, Equity Financial (equityfinancialtrust.com) to determine if your old certificate has any current value.
For the BrandEra, it means shareholders of Le Print were given shares in a new company on the basis of 0.3332 of a BrandEra share for every share of Le Print they owned. BrandEra changed names several times and had at least 1 reverse split (1 for 10) and is now E.G. Capital, which trades for about 1 cent per share on the TSX Venture. You will need to contact the current transfer agent, which is also Equity Financial, to determine if you are entitled to any shares.