Shares got delisted - help?

[gordonleslie]

If a shares savvy person could shed some light onto my current situation ...

A fair few years back (probably 5) i invested some money in ASX:WNT - it never went anywhere and in the GFC lost a lot of value - name changed to IDG 2 years ago and they started a big share buy-back scheme. I stopped following it as my position ended up being very small ($1500 i think).

I was surprised to check my comsec account today to find that they dont appear in my CHESS holdings ... so i check the last announcement and they have been de-listed!

So the question to you is ... what happened to my shares and is there a way to sell them of get some money back? The company didnt go bankrupt or anything i think the company just bought back enough of the shares to get a majority that allowed them to delist (i could be wrong).

[Rich]

I think you will have a tax deduction due to a capital loss...but check that...

also check here...

Delisted - Sell your worthless shares

[fincl]

Why do they charge you to buy your shares? I'm am in no way share savvy so I'm guessing there's a reason?

[Hewie]

Ill check tomorrow and let you know.

[Hewie]

Ok

Indago still operates, it is merely delisted. They delisted on 29 August 2011.

My understanding is that Indago is considering establishing a grey market to facilitate the sale/purchase of shares.

If you want to discuss further you could contact them on 6380 2066 and speak to Tim Kestell or Peter Pines

Indago Resources Limited

[gordonleslie]

wow thanks Hewie - how did you get that information (names and number). I live overseas currently and its a royal pain in the arse to call people in Australia - would prefer an email or fax.

[Dark Shadow]

Slightly off topic, talk of "worthless shares" made me remember this debacle, anyone know what happened to the poor souls who stupidly invested in this company?
Shares in Briscon tollway prove road to ruin | The Australian

I wonder if that web site/business linked above would have taken the tollway shares off your hands for $152

[Hewie]

No probs.

There are email addys on their website.

I cant promise that they are going to set up a market as that hasnt been confirmed, but Id just ring and ask them how you can sell your shares.