Canadian Stocks/Old stock "Initial Developers Ltd."
My father passed away and had 3 different stocks that he said were linked to each other in some way. They are:
Davenport Industries Ltd. (DVO) that you spoke about before
Initial Developers Ltd.
Comet Industries Ltd.
Comet is publicly traded today.
How are they related? if one company has part ownership in another does that mean there is any value in it/the shares?
If there is a cease trade order (DVO) yet the company still has assets, does the shareholder have any "ownership" of those assets?
Vicky, it appears each of these companies may have had management in common, and may have operated out of the same office.
From the information I have available:
Davenport (DVO) remains cease-traded. No current value.
Initial was suspended, delisted and cease-traded in 2000. Those orders remain in effect. No current value.
Comet is still around. You will need to contact the current transfer agent, Computershare (www.computershare.com) to have the old certificates reorganized from your late father's name to the name of the heirs.
For the Cease-Trade orders, it is highly unlikely the companies have any net assets. Otherwise the Company would not have stopped filing their required disclosures and been cease-traded in the first place. Usually the companies stop because they are flat broke and have no chance to recover, so the management simply gives up and stops filing.