Dematerialization of shares issue
Advantages for you
The main advantage of book – entry form of securities is safer in comparison with documentary form and protection of rights of the owner as well as simple and effective procedure of deregistration of owner rights.
Tariffs
Amount of fees remuneration is individual and settled by Financial Committee of the Bank solution due to services provided by the Bank to the client. Fees can be paid at once or by stages on measures of works performed by the Bank in accordance with concluded agreements.
Miscellaneous
On 17 September, 2008 the Verkhovna Rada of Ukraine adopted the Law of Ukraine «On Joint Stock Companies» that entered into force on 30 April, 2009.
This Law provides for a rather large range of innovations in the sphere of legal regulation of creation and activities of the joint stock companies in Ukraine. In particular, the new law has launched the process of dematerialization of securities:
«part 2 of the Article 20 of the Law provides for the existence of shares solely in undocumented form».
This requirement of the Law becomes effective in 2 years after the date of its publication (The Law was published on 29.10.2008), that is on 29 October, 2010, that means that until that date the existing share issues in documented form should be dematerialized.
To the issuers who made a decision on dematerialization of securities and address our bank, we offer the comprehensive services on conversion of securities issue from documented form into the undocumented one meeting accurately the terms defined by the legislation.
The main stages of the shares dematerialization process are:
1. Approval of decision on dematerialization of shares;
2. Replacement of the certificate on registration of issue of registered shares;
3. Termination of register keeping;
4. Deposition of global certificate and deposit of securities of the issue to be dematerialized into account in securities with one of the securities depositaries;
5. Opening by the issuer of accounts in securities for the holders of the registered shares of the issue to be dematerialized with a custodian – PJSC «Kreditprombank» and deposit of shares on them in the undocumented form of issue.
Public joint stock company «Kreditprombank» has License for performing the professional activities in the securities market: custody business of a custodian, issued by the Securities and Stock Market State Commission, series АВ № 520558, period of license validity: 11.05.2006 – 11.05.2011.
Actually the custodian PJSC «Kreditprombank» has the agreements concluded with the three securities depositaries: OJSC "National Depositary of Ukraine", PJSC "All-Ukrainian Securities Depositary" and depositary of the National Bank of Ukraine.
The custodian PJSC «Kreditprombank» is a member of the Professional Association of Registrars and Depositaries (PARD).