Dear XXXXXXX,
Sorry to hear this. I dont understand what you mean by "...........They only verification of SB's existance came from their now defunct website and an earlier posting on your Website....." Which site are you referring to ? JA is not "MY" site and we are just one of the finance experts authorized to help customers.
Coming to your query. I am sorry to say that you have landed up with wrong party and have dealt with the persons who are not authorized to deal / transact / buy / sell in shares and securities.
Now, having confirmed from your financial regulator Belgian Finance Commission that SB is not licenced by them, you will have to take the two following recourse.
Along with all your trade details, Certificates, you will have to approach CBFA and file "Formal" Complaint with them. http://www.cbfa.be/eng/cob/kla/html/cbfa.asp#services
You can follow this complaint and at the same time, you can also initiate legal criminal proceedings for breach of trust against SB. I know that all this is bit long but you WILL have to do this as you will have to get out of this and get your money.
I hope the above helps...
Regards,
Hi Milan,
Thank you for your answer but it does not tell me what i can do with my share certificates,all of which are in my possession and none of which were bought off SB but through a fiduciary agent on their recommendation.Can i take these certificates to any stock broker and liquidate them?
Ok... I see, in that case, you have a very easy way out.
Just approach another broker (who is authorised and licensed to deal / transact / sell / buy) stocks and securities. Just approach the with your Certificates and you can certainly liquidate them They will guide you regarding relevant paperwork with them.
If you have Certificates in your possession, just do as said above and forget SB. In future, always make sure to deal with a licensed entity.
hi milan,
Just one more question.my shares were bought 1.20 dollars and are shown on yahoo finance a[khgt.pk]at 2.05 dollars at present but i see the last indicated trade was on July 24 and the certs have Restricted printed on them.Can i sell them and are they really worth this money.
regards
mike
Dear Friend,
See... let me explain.
The symbol khgt.pk refers to KALAHARI GREENTECH and as you rightly say that the last traded time was July 22. This is also confirmed by other sources.
So, in this case, you will NOT be able to offload this investment on any stock exchange as for this, the share needs to be trading. Since its not being traded, you will NOT be able to liquidate by going to a broker and selling it on stock exchange.
In a way, its a dead investment for you . However, keeping looking out for any private offer (off the exchange) to buy such shares.. Apart from this, there is no direct way out to offload these shares.
Financial Advisor
Technical Analyst in Financial Markets -- Experience of more than 10 years in consulting