CREST Account definition
Examples of CREST Account in a sentence
In order to surrender the IDRs and request the sale of the Shares underlying the IDRs being surrendered by the IDR Holders, on the LSE, IDR Holders are not required to open or have a CREST Account in the United Kingdom.
The Overseas Custodian shall transfer the corresponding number of Shares to the CREST Account of the Broker for sale on the LSE in accordance with the applicable rules and procedures on the same day or next day as receipt of the instructions from the Domestic Depository to transfer the Shares underlying the Sale IDRs to the CREST Account of the Broker, and provide a copy of the evidence of such transfer to the Domestic Depository on the same date as the transfer.
The IDR Holders will be required to approach their respective stockbrokers for assistance in opening the CREST Account in the United Kingdom.
After the transfer of such Shares underlying the Sale IDRs by the Overseas Custodian to the CREST Account of the Broker, the Broker shall carry out the sale of such Shares on the LSE.
In order to request for the redemption of the IDRs into Shares, the IDR Holders are required to have unencumbered title over the relevant IDRs and to open and have a valid and active CREST Account in the United Kingdom.
After receipt of approval of the Indian Stock Exchanges for delisting of the IDRs, the Domestic Depository shall direct the Overseas Custodian, by tested telex, facsimile or SWIFT message (as applicable) to transfer all the Shares underlying the Sale IDRs from the IDR CREST Account held with the Overseas Custodian to the CREST Account of the Broker.
The IDR Holders are not required to issue any instructions for sale of Shares underlying Sale IDRs, or open and have a CREST Account in the United Kingdom, for receiving the cash proceeds of sale of Shares underlying the Sale IDRs. The Domestic Depository will issue appropriate instructions to the Overseas Custodian, for transfer of the Shares underlying the Sale IDRs from the IDR CREST Account with the Overseas Custodian to the CREST Account of the Broker, to third party buyers, on the LSE.
Please enter my/our* name in the register of members of the Company and arrange (i) for a Certificate for the Ordinary Shares and, if applicable, a certificate for the balance of the unexercised Warrants to be sent to my/our* registered address at my/our* own risk, or (ii) where Ordinary Shares are to be issued in uncertificated form, arrange for the Ordinary Shares to be credited to my/our* CREST Account stated below.
Details of allottee’s CREST Account: Participant ID: ……………………………… Member Account ID: ………………….
Notice is hereby given that (i) the Merger has become effective as of 9:00 p.m., New York City time, on ▇▇▇▇▇ ▇, ▇▇▇▇, (▇▇) the Company [has deposited] [will deposit] on [date] [insert number] WPP Shares with the Custodian (the “Deposit Shares”), Citibank, N.A. London Branch (CREST Account No. BA01D), and (iii) all applicable taxes, including stamp duty taxes, have been paid in respect of such Deposited Shares, pursuant to the Merger.