Securities Ownership Register
AfriDep maintains an electronic securities ownership register of uncertificated securities including those listed on Trop-X. AfriDep records all successful transactions of eligible securities executed on Trop-X and cleared through an approved securities facility participant, which includes AfriClear. The AfriDep electronic register ties in seamlessly with the Trop-X Automated Trading System (ATS) and AfriClear clearing and settlement system (ARTECSS). Thus, the securities ownership register is updated on a real time gross basis simultaneously with the trade being matched, securities accounts being updated and funds (cash) accounts being updated between the buyer and seller.
The securities ownership register maintained by AfriDep is in electronic (i.e. dematerialized or uncertificated) form. By having this register in an electronic format issuers benefit from a more accurate register. As trades are cleared and settled on a real-time basis, the electronic register is updated immediately with no outstanding securities transactions. Furthermore, the share transactions are not required to be registered with the Office of the Register General. This results in a far more efficient process and shareholders are more readily able to trade their shares.
AfriDep offers services designed to facilitate corporate action events on behalf of issuers which impact the securities ownership register such as the following:
- New Issues
- Initial Public Offerings
- Stock Splits or Reverse Stock Splits
- Private Placements
- Rights Issues
Issuers and Investors benefit from a dramatically increased level of efficiency and cost effectiveness.
AfriDep can generate a variety of reports that allows the Issuer to get a snapshot or a full register of the securities held electronically in a number of formats such as a list of top registered security holders or a summary of security holders by country.
Furthermore AfriDep can provide a comparison of movement report that shows the change in shareholdings on a daily, weekly or monthly basis.
These services are available upon request. Please email: email@example.com