Question I have in my possession an employee stock ownership plan certificate that says I have 49.561 shares of EBI companies. It is dated as of Dec. 31, 1977. I know that EBI was sold to Orion Group several years ago. I don't know what to do to find out if these shares have any value since they original company was sold out. I am not sure where to start to find their value. I have tried to find a trail via the internet, but I am not having any luck finding a value to the shares. Could the certificate just need to be recycled. I would appreciate suggestions in getting the answers. Thank you, Jeanette
Answer Jeanette, this is a tough one. If this is just a record of an ESOP, rather than a stock certificate, I'd start with calling the HR department of that acquirer Orion Group. Say that you're a former employee of EBI with ESOP shares, and see if they can help. Long shot but possible.
If this is a stock certificate you should talk with investor relations at Orion Group instead. In most acquisitions the old shareholders receive either cash, stock, or both and it's a matter of tracking down that money/stock. Say you hold EBI stock and want to know how to redeem your shares for whatever EBI shareholders got in the Orion Group acquisition.
If it was awhile ago, what may have happened is that whatever cash or stock you were entitled to "escheated" to the state. That's what happens with unclaimed property - it's held by the state where there was last a record of you. In that case you might be able to track it down through this website: http://www.unclaimed.org/
I'd search all sorts of options - your current home state, the state where each company is located, and the place you were living when you worked there, if these are all different.
Another possibility is...well, it was cashed out and you just forgot. I was cleaning out old files awhile back and came across some records from my ESOP from a job 15 years ago. They'd issued me a check at the time and I deposited it. The amount was so small, I just forgot that it had ever happened!
