Hi everyone,
Back in 2010/11, I purchased 13,000/3,250 shares in a small company that WAS NOT public at the time. I held onto these two certificates until they got misplaced during a move. However, they are not lost, just packed away in a box somewhere.
In 2017, the company underwent a merger and went public with the new company. The announcement was confusing, and since I didn't physically have the certificates (and was aware of an upcoming share consolidation), I didn't look into it much at the time. In hindsight, the confusion around the process was a sign that perhaps investing in the company wasn't the best idea.
Fast forward to today, I found those original certificates, totaling 13,000/3,250 shares. Given the share consolidation that occurred before the company went public, I understand that I wouldn't have the same number of shares in the new venture.
My question is, how do I properly explain all this to Scotia, where I want to deposit these shares? I want to avoid any confusion or complications. Additionally, since this was a private placement back in 2010/11 and I received a tax benefit at that time, I assume I can't deposit these shares into my TFSA or RRSP trading accounts.
I realize there might not be a lot of information to go on, and providing too much detail in this public forum might reveal the companies involved. I simply want to ensure I provide Scotia with all the necessary details for a proper share deposit.
Thank you for any feedback or advice you can provide.
Back in 2010/11, I purchased 13,000/3,250 shares in a small company that WAS NOT public at the time. I held onto these two certificates until they got misplaced during a move. However, they are not lost, just packed away in a box somewhere.
In 2017, the company underwent a merger and went public with the new company. The announcement was confusing, and since I didn't physically have the certificates (and was aware of an upcoming share consolidation), I didn't look into it much at the time. In hindsight, the confusion around the process was a sign that perhaps investing in the company wasn't the best idea.
Fast forward to today, I found those original certificates, totaling 13,000/3,250 shares. Given the share consolidation that occurred before the company went public, I understand that I wouldn't have the same number of shares in the new venture.
My question is, how do I properly explain all this to Scotia, where I want to deposit these shares? I want to avoid any confusion or complications. Additionally, since this was a private placement back in 2010/11 and I received a tax benefit at that time, I assume I can't deposit these shares into my TFSA or RRSP trading accounts.
I realize there might not be a lot of information to go on, and providing too much detail in this public forum might reveal the companies involved. I simply want to ensure I provide Scotia with all the necessary details for a proper share deposit.
Thank you for any feedback or advice you can provide.