The company itself is a joke...you are right.
But it is active, it has turnover (minimal one) and it is registered as Media company. So technical it is an active media company. Practical it is nothing. And the value of the shares is also very low.
I don't know how much room the law gives here.
Someone said, it is not the problem that he has the shares, the bigger problem is that he is so stupid and ignorant to not get rid of them long time ago. I kind of agree.