August, 28 2020
Dear
Participants,
As you are
aware, on Thursday, September 3, 2020, the new regulation "The Shareholder
Rights Directive II (SRDII)" will come into force in all member countries
of the European Economic Area EEA. Indeval has been in constant communication
with foreign custodians testing and reviewing the changes involved.
The SRD II
regulation aims to encourage long-term shareholder participation and improve
transparency between issuers and investors. It has as its primary focus the
identification of holders in certain corporate events.
SRD II
requirements will apply to securities under the following scenarios: 1. The
securities are issued by companies that have their tax address in an EEA member
country. 2. The securities are admitted to trading on a recognized and
regulated market within an EEA member country.
The SDR II
will be notified through a foreign custodian's corporate event; therefore,
Indeval will announce it on the Dali portal in the "Corporate Events"
section. These events applicable to the SRDII will be published with the event
type "SRDII Assembly" and "SRDII Information Disclosure."
It is
essential to mention that these types of events are mandatory. When the issuer
requests this information, it will be the beneficiary's responsibility to
comply with this regulation through the means specified in the corporate event.
Among other
details, the corporate event will specify the deadline the holder will have to
send such information to the issuer and some necessary codes that the
instruction must contain, the format, and the form of sending.
We thank
you in advance for your attention to this notice. For any clarification or
doubt, please contact Edgar Espinoza at 5342-9282
KINDLY,
DEPUTY
DIRECTOR OF INTERNATIONAL BUSINESS
September 24, 2019