YOUR MONEY: How permanent are old shares?

Question:

Apparently my grandmother bought us, her grandkids, shares in what was then Permanent Bank. She used to work for them. She passed away many years ago (when it was still Permanent Bank). Does anyone know if/how we could find out if those shares existed and who owns them?

— A Fat Wallet Facebook community member

Answer:

As I recall Permanent Bank was taken over by Nedbank, though I can’t remember if the deal was a cash payment or Nedbank shares for the Permanent Bank shares. Either way the shares would still be held for your siblings and yourself. You can contact Computershare South Africa, which will have the details.

Importantly this applies to any old holdings of shares you may find. In many cases the companies went out of business so there is probably no payout due. But if the business continues, even under a new name or owners, such as Nedbank taking over Permanent Bank, you can claim your shares or payout and any dividends received over the period.

One word of caution: I have seen old share certificates for sale and many think they’ll have some value when the reality is in every case I know of they did not. These are merely historical artefacts for collectors.

— Simon Brown, Just One Lap

We’d like to hear from you. E-mail us on yourmoney@fm.co.za