I have 3300 shares of Penyork Energy Resource in my name purchased in 1981-1982. I have read (Expert: Steven Taylor - 4/29/2011
I have a certificate for 500 of these shares bought on July 14th.1980 and am wondering what the value of these are this year and how to go about selling same.
Alex, from the information I have available, the company went through numerous name changes and eventually became Anchor Lamina. Anchor was acquired in 1997 for $8 cash per share.
Assuming the shares are in your name, if you did not receive the cash at the time of acquisition, it would have been turned over to the government for safekeeping for you until you could claim it, or the time for holding the lost property has expired. You will need to contact the missing property department of every State or Province you lived in from the date the certificate was first issued to you until the buyout. You can search many of them online for free at www.missingmoney.com and www.naupa.org. Check both, as they have different participants. )
The questions I have are, is the time limit up and since I have used your suggestion to look up my name on the missing money sites but found nothing, how can I resolve this issue? I have the name of the Broker I purchased the shares from as well the sentence at the bottom of the certificate says 'This certificate is transferable at the principal office of national trust company limited toronto'
John, it is impossible to say if the time limit is up without knowing which jurisdiction might have been holding the money. Each State and Province has their own rules of how long they keep unclaimed property. Some are just 10 years, some are 20, and some are longer or indefinite. Which means it could be too late. On the other hand, not all jurisdictions participate in the program. Ontario is the largest non-participant. They do not even have a dedicated office to unclaimed property, which makes their program almost non-existent and very difficult to even determine if they are holding unclaimed assets, much less claiming them. If you think Ontario might have received your money, you will need to contact the Provincial Government directly and make inquiries. I suggest you start with the Ministry of Finance.
Once the company was acquired, the certificate ceased to have any relevance as it would have been cancelled. Contacting the broker or the transfer agent would not be of any help at this point, unfortunately. Contacting the government is really the only and best approach now.