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I have a share certificate. How can I find out if it has any value?
| Background |
The information provided below may only be applicable in Ontario. If you reside in another jurisdiction, you may wish to contact your local securities regulatory authority.
A stock certificate may still have value even if a company's shares no longer trade on a stock exchange or the company has merged or changed names. |
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| Information to Determine |
The objective of your search should be to determine:
- the current (or most recent) name of a company
- if the company is still active, and
- if its shares are still tradeable.
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| Determine Status of Company |
To determine if the company you invested in is currently a reporting issuer in Ontario (publicly traded company) you should refer to the OSC Reporting Issuer List. In order for you to trade your shares in Ontario there cannot be an OSC Cease Trade Order (CTO) placed on the securities of the company. The OSC Reporting Issuer List will indicate if a company is subject to a CTO. |
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| The Company is on the OSC Reporting Issuer List and Not Subject to a CTO |
If the shares are registered in your name you may either:
- keep the shares in a safe place until you want to trade them
- deposit them into an existing brokerage account or
- open a brokerage account in which to hold the shares.
If the shares are not registered in your name, you must contact the transfer agent for the company (provided they have one) or the company to have the shares transferred in your name. The name of the transfer agent is available on the company profile on the website of the System for Electronic Document Analysis and Retrieval (SEDAR).
From the SEDAR homepage (www.sedar.com):
- click "Company Profiles" in the top navigation bar
- under the PUBLIC COMPANY heading choose the first letter of the company’s name
- scroll down the list of company names and click on the link for the company name to open the company’s profile
Contact information for many transfer agents in Canada is on the website of The Securities Transfer Association of Canada (www.stac.ca). |
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| The Company is on the Reporting Issuer List and it is Subject to a Cease Trade Order |
A CTO is typically placed on a company when the company has not met its disclosure obligations as required by Ontario securities law. Generally, if you own shares in a company that is subject to a CTO you will not be able to trade your shares in Ontario.
You have two potential courses of action:
- keep the shares with the hopes the CTO will be revoked
- consider claiming a capital loss on your income taxes
For a company to have a CTO revoked:
- the company must meet required deficiencies
- make an application to the OSC for revocation of the CTO
- have the application approved by the OSC
The responsibility for compliance with Ontario securities law lies with the company. Once a CTO has been issued, it remains the responsibility of the company, not the OSC, to correct the deficiencies and apply for a revocation of the CTO.
If you would like to investigate the intentions of a company you may want to contact them directly. Company contact information is available on the company’s profile on the System for Electronic Document Analysis and Retrieval (SEDAR). Please note that the contact information may not be current as it is the responsibility of the reporting issuer to keep this information up-to-date.
From the SEDAR homepage (www.sedar.com):
- click "Company Profiles" in the top navigation bar
- under the PUBLIC COMPANY heading choose the first letter of the company’s name
- scroll down the list of company names and click on the link for the company name to open the company’s profile
Depending on the company's status, the length of time since the issuance of the CTO, and the company's intentions it may be possible for you to claim a capital loss for your investment to offset a capital gain for income tax purposes. You should contact Canada Revenue Agency or your tax adviser for guidance on this process.
Canada Revenue Agency may be contacted by telephone toll free at 1-800-959-8281.
A copy of the CTO may be available for printing from the National CTO database. Note some of the older CTOs are not available electronically on this database. If you require a copy of an Ontario CTO not available on the National CTO database, you may contact the OSC Records Section at 416-593-3735 to obtain a copy. Fees apply for this request.
You may access the National CTO database from the homepage of the OSC website:
- click on “National CTO” under the heading Public Companies
- click on the word “here” in the sentence directly below the heading “National Cease Trade Order List”
- type in the company name in the space provided beside the title “Name”
- click “Search Company CTOs”
- find the CTO for the company which was issued in Ontario (ON)
- if the company name appears as a link, you may click on it and print the CTO
Alternatively, if the company has been subject to the OSC CTO for a number of years, you may wish to contact either the Ministry of Government Services, Personal Property and Security Branch (MGS) or Industry Canada to determine if the company is still in existence. Please note that both MGS and Industry Canada charge a fee for their services.
Contact information for both MGS and Industry Canada is provided in the section below. |
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| No, my company is not on the OSC Reporting Issuer List |
If you hold shares in a company that is not on the OSC Reporting Issuer List the company may have merged with another company and changed names or simply changed its name. The company may also never have been a reporting issuer in Ontario.
If you currently deal with an investment adviser, he or she may be able to assist you.
Alternatively, there are a number of resources for researching the history or current name and status of Ontario corporations or listed companies:
The Financial Post
On-line search for “Predecessor or Defunct” companies.
Go to www.fpinfomart.ca:
- under the heading “FP Advisor”, select “Predecessor & Defunct”
- enter the “company name” in the space provided and click “Search”
- review information provided under the “Status” section of the Search results (eg. Defunct, No Recent Updates)
- If you need more information, click “Add to Shopping Cart”, there may be a charge for this service.
For Ontario Incorporated Companies
Companies and Personal Property Security Branch
Ministry of Government Services
200-393 University Avenue
Toronto, ON M5G 2M2
Companies Helpline: (416) 314-8880 or toll free 1-800-361-3223
TTY: (416) 212-1476 (speech/hearing impaired)
Fee: $8.00 via Cyberbahn Inc. or OnCorp Direct Inc.
$12.00 in person or by mail.
Cyberbahn Inc.
300, 268 Adelaide Street W.
Toronto, ON M5H 1X6
(416) 595-9522
www.cyberbahn.ca
OnCorp Direct Inc.
316, 1033 Bay Street
Toronto, ON M5S 3A5
(416) 964-2677
www.oncorp.com
Federally Incorporated Companies
Industry Canada, Corporations Directorate
Corporations Branch
365 Laurier Avenue West
9th Floor, Journal Tower South
Ottawa, ON, K1A 0C8
Bankruptcy Division: (613) 941-2863 or toll free 1-800-328-6189
Corporations Branch: (613) 941-9042
Cyberbahn Inc.
300, 268 Adelaide Street W.
Toronto, ON M5H 1X6
(416) 595-9522
www.cyberbahn.ca
OnCorp Direct Inc.
316, 1033 Bay Street
Toronto, ON M5S 3A5
(416) 964-2677
www.oncorp.com
The OSC does not endorse the services of the above-noted companies. |
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