The British Columbia Resources Investment Corporation, or BCRIC (pronounced "brick"), was a holding company formed under the government of William R. Bennett. The company took over ownership of various sawmills and mines that had been bought and bailed out by the government. The name was eventually changed to Westar Group Ltd.
British Columbia Resources Investment Corporation Share certificate both sides
The most famous aspect of the company were the five free bearer shares, dated August 7, 1979, which were distributed to all British Columbians, to promote investment in the province, and earn back a profit to the buyer. British Columbians and investors were encouraged to buy more. The company expanded and bought numerous mining and logging installations.
Because of significant investment in a North Sea oil play by a subsidiary, Westar Petroleum, and bad timing in a mining investment by another subsidiary, Westar Mining, the company ran into financial trouble. Investors saw their thousands of dollars dwindle to pennies.
In 1995, the shares were consolidated at a ratio of 125 to 1. At the time, five bearer shares were worth 0.8% of a post-consolidation share. In June 1997, the consolidated shares were subject to a compulsory buy-out at $70 each ($0.56 per bearer share) as part of a privatization transaction by the Jim Pattison Group. However, the buyout had a 10-year limit, which expired on June 30, 2007, and so outstanding share certificates no longer have any value.
A security is a tradable financial asset. The term commonly refers to any form of financial instrument, but its legal definition varies by jurisdiction. In some countries and languages people commonly use the term "security" to refer to any form of financial instrument, even though the underlying legal and regulatory regime may not have such a broad definition. In some jurisdictions the term specifically excludes financial instruments other than equities and Fixed income instruments. In some jurisdictions it includes some instruments that are close to equities and fixed income, e.g., equity warrants.
Railway Mania was an instance of a stock market bubble in the United Kingdom of Great Britain and Ireland in the 1840s. It followed a common pattern: as the price of railway shares increased, speculators invested more money, which further increased the price of railway shares, until the share price collapsed. The mania reached its zenith in 1846, when 263 Acts of Parliament for setting up new railway companies were passed, with the proposed routes totalling 9,500 miles (15,300 km). About a third of the railways authorised were never built—the companies either collapsed due to poor financial planning, were bought out by larger competitors before they could build their line, or turned out to be fraudulent enterprises to channel investors' money into other businesses.
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Barney Barnato, born Barnet Isaacs, was a British Randlord, one of the entrepreneurs who gained control of diamond mining, and later, gold mining in South Africa from the 1870s up to World War I. He is perhaps best remembered as being a rival of Cecil Rhodes.
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Glencore plc is a Swiss multinational commodity trading and mining company with headquarters in Baar, Switzerland. Glencore's oil and gas head office is in London and its registered office is in Saint Helier, Jersey. The current company was created through a merger of Glencore with Xstrata on 2 May 2013. As of 2015, it ranked tenth in the Fortune Global 500 list of the world's largest companies. In the 2020 Forbes Global 2000, Glencore International was ranked as the 484th-largest public company in the world. As of July 2022, it is the world's largest commodity trader.
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interactive investor is a subscription-based online investment service in the United Kingdom, founded in 1995. It provides financial information, as well as investment tools. It is the UK's biggest flat-fee investment platform, with £59 billion of assets under administration and over 400,000 customers. The company is based in Manchester, with offices in London and Leeds. Since 2022 it has been a subsidiary of UK-based investment company Abrdn.
The Financial News was a daily British newspaper published in London. It was founded in 1884 by Harry Marks, who had begun on United States newspapers, and set up to expose fraudulent investments. Marks himself was key to the paper's early growth, when it had a buccaneering life fighting against corruption and competing with the Financial Times, but after Marks' death it declined. Bought by publishers Eyre & Spottiswoode in 1928 and run by Brendan Bracken, it eventually merged with its great rival in 1945.
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Britam Holding PLC is a leading diversified financial services group and is listed on the Nairobi Securities Exchange. The group has presence in seven Africa countries in Kenya, Uganda, Tanzania, Rwanda, South Sudan, Mozambique and Malawi.
Murray & Roberts Holdings Ltd. is a South African-based engineering and mining contractor. It is listed on the JSE Securities Exchange. The Group delivers its capabilities into three global primary market sectors the resources, industrial, energy, water and specialised infrastructure market sectors.
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