Blog Archive

Tuesday, September 18, 2007

Rights Issues - For Non-Shareholders


The potential investors who are currently not shareholders will have to buy the renounced Rights from the Secondary Market. Please note this ended on 14 Sep 2007.

The following sums up the general process flow:
1. Non-shareholders should approach their Agents and, if they are first time investors, they will be requested to open CDS Accounts as per normal procedures; Completed
2. The investors may then order and buy the Rights from the secondary market; Completed
3. The new investors will then raise payment for the Rights through their Agents; Payments due by 28 Sep 2007.
4. The Agents will deliver full details of the sellers and buyers as well as the payment for the Rights to KCB. The details so submitted should be in the form of schedules disclosing the following;
a. Full Names;
b. National ID or Passport Number;
c. Full Contact Details;
d. Number of Rights transacted;
e. Payment made/due; and (in respect to the seller);
f. The shareholder’s member number;
5. KCB will observe all the banking and batching procedures before delivery to CRS;
6. CRS will debit the seller’s (existing shareholder’s) account as well as create and credit the new investor’s account with the transacted Rights.

If you are still unsure, please contact Rina Karina of Faida Securities.

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