Your Gateway to CREST and UK Capital Markets
About Archax Registrars
Are you a non-UK incorporated company exploring the opportunity of listing your shares in a UK equities market?
What do you need to know? Here are a few typical questions and answers:
Q. What is a Depository Interest?
A Depository Interest, otherwise known as a DI, is a legal asset which provides a 1 for 1 interest in the underlying share security as if the investor was holding the share directly.
Q. Who is the registered shareholder?
The registered shareholder within the Register of Members will be shown as Archax Depositry Limited. This position however will be reflected within the CREST record and the Depository Interest Register in which the interest of the DI holders will be reflected.
Q. How many Registers will there be?
There will be 2 registers. The full register of members will reflect the issued share capital along with the statutory shareholder information for the security class.
The second register will be the Depository Interest Register which will hold all CREST participant details relevant to the dematerialised share position as evidenced by the Archax Depository Limited position reflected in the full register.
Q. Are the Depository Holders allowed to vote at General Meetings?
Yes. However, to provide for operational efficiencies, holders of depository interests may only appoint Archax as their proxy who in turn will appoint the Chairman of the Meeting to exercise these votes at the meeting.
Holders of DI’s that wish to attend the meeting may do so by requesting a Letter of Representation from Archax.
Q. Can the Depository holders receive dividends?
Yes. Holders of DI’s will receive dividends from Archax Depository Limited, as the registered shareholder rather than directly from the company. All dividends will be settled electronically through CREST on the payment date.