Not sure what happened to my shares?

[shyguy]

i bought shares in STI ages ago and then recently noticed that my shares had gone "transfer out"... i realise the company wasnt looking good recently... but it looks to me like they are still listed??? so whats going on???

 

[So_Cynical]

i bought shares in STI ages ago and then recently noticed that my shares had gone "transfer out"... i realise the company wasnt looking good recently... but it looks to me like they are still listed??? so whats going on???

Gone...STI hasn't traded since 30 Jun 2011.

http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=STI

 

[shyguy]

but i would have thought there would have been formal notice to say they have been removed...? especially given that now the money i had invested seems to have disappeared!

 

[So_Cynical]

but i would have thought there would have been formal notice to say they have been removed...? especially given that now the money i had invested seems to have disappeared!

Read the announcements "voluntary administrator appointed" etc, its pretty obvious what's happened.

 

[pixel]

but i would have thought there would have been formal notice to say they have been removed...? especially given that now the money i had invested seems to have disappeared!

Sadly, that's what happens when a company goes belly-up: The creditors are sharing whatever is left over, usually by "Deed of Company Arrangement"; the shareholders hold a share of ... nothing.

However, if you read this letter carefully, you may find a faint ray of hope:
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01242557
Sometimes, the DoCA is executed, the slate wiped clean, and a recapitalisation process can begin. That will see some new capital injection - in which you can participate, if you don't consider it's throwing good money after bad - but the old holders will receive a token number of new shares free of charge.
Dilution can mean you only receive one new share for every 100, or 250, or even 1000 shares held before Administration. At least, your historic holding won't be completely forgotten.

 

[shyguy]

However, if you read this letter carefully, you may find a faint ray of hope:
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01242557
Sometimes, the DoCA is executed, the slate wiped clean, and a recapitalisation process can begin. That will see some new capital injection - in which you can participate, if you don't consider it's throwing good money after bad - but the old holders will receive a token number of new shares free of charge.
Dilution can mean you only receive one new share for every 100, or 250, or even 1000 shares held before Administration. At least, your historic holding won't be completely forgotten.

ah yes... and that is one of the announcements that had me confused as it was in the tone that things may pick up again... but if my shares appear to have gone then do i get them back...?

cheers for clearing that up!