Illiquid holding in SIPP

Slightly odd one this. Our client invested sometime ago in a Canadian mining stock via his SIPP. The company was taken over several years later but the shares of the original company still exist (I don't know why but trust me, they do). This is the only holding in the SIPP and is held with a custodian. Both the SIPP and custody account incur fees.

The shares basically have no value. The custodian has said ‘’The security is priced at zero as there is no price from our source providers. Hence, no valuations will be available for this stock.’’ However, they cannot confirm this formally to the SIPP provider as there is no source data. So at the moment, the client can't buy or transfer the stock out of the SIPP until a valuation can be obtained.

Anyone have any idea how this impasse can be overcome?


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