Cooperation in the corporate action of dematerialized and physical securities issued in Hungary, at the request of the issuer
Management of corporate actions of securities that are acceptable for KELER
At the request of the issuer KELER co-operates in the execution of corporate actions of securities in custody at KELER.
Short description of the service:
At the request of the issuer or the client KELER co-operates in the execution of corporate actions of securities in custody at KELER that include the exercise of rights based on securities: KELER completes shareholder registration or prepares the payment instruction. To this end KELER informs clients via the KID system on current corporate actions.
Shareholders registration requested by the issuer is for the entire volume of securities managed by KELER on the due date, the client gives ownership data to KELER on the securities available to the client.
1. Shareholder registration in case of corporate actions without payment (e.g. general meeting, updates to the register of shareholders, individual entries to the register of shareholders at the request of the client, retrospective shareholder registration),
2. For corporate actions with payments on the due date payment order for the due date is completed (dividend payment, payment of dividend advance, interest payment, capital repayment, interest payment and capital repayment, yield advance, payment at expiry date). The issuer can request shareholders registration also for the preparation of this order.
Details on the service:
1. Shareholders registration for corporate actions without payment
- General meeting – that can be:
- Annual ordinary general meeting, or
- Extraordinary general meeting
Within these categories:
- general meeting with blocking,
- general meeting without blocking.
For general meetings the issuer is obliged to indicate in its request of shareholders registration whether simultaneously with shareholders registration the shares of holders intending to participate at the general meeting are to be blocked or not (in line with prevailing regulatory and bylaws requirements). If the issuer instructs to block equities, on the settlement date after the due date of the shareholders registration KELER blocks the quantity of equities only for which the client indicated intention to participate in the corporate action and submitted a blocking instruction.
- Shareholder register update:
Event without blocking.
- Individual entry to the shareholders register requested by the client:
The client can request that equities it holds are registered in the shareholders register.
- Retrospective shareholders registration:
For dematerialized equities KELER can complete retrospective shareholders registration based on the resolution of the Supervisory Authority or written order of the issuer.
2. Payment order and shareholders registration for corporate actions with payment where securities are not blocked
- Payment order for dividend and dividend advance payment and related shareholders registration,
- Payment order for interest, interest and capital payments and payment at expiry, related to which shareholders registration can be ordered as an additional service,
- Payment order for yield, yield advance, capital and yield payment, related to which shareholders registration can be ordered as an additional service.
What should the client do if it wishes to use this service?
The issuer or the client is to complete the form (service order) for the corporate action concerned and submit the form to KELER. The form ordering the service is to be received by KELER at least 15 business days prior to the corporate action.
Related downloadable documents:
Available only in Hungarian, if you need this document, please send an e-mail us: email@example.com
- Order form, General meeting or update to the shareholder register
Order and instruction by the issuer, Shareholders registration for dematerialized equities or for a past date
- Order by the issuer for payment related to dematerialized equities
- Shareholders registration for investment units and capital fund notes
Additional useful links, information:
The provisions of Point 22.214.171.124. of the General Business Rules of KELER Zrt.