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Common Nominee Services

HKSCC provides nominee and similar services to Participants in respect of eligible securities held by them in CCASS. It exercises shareholder rights in respect of the securities held in CCASS, and acts on instructions received from Participants.

HKSCC monitors the relevant corporate actions or activities affecting eligible securities and keeps Participants informed of such actions and activities which require Participants to take action in them.

HKSCC collects benefit entitlements including dividend, interest and bonus shares on behalf of Participants and distributes the entitlements in accordance with their shareholdings held in CCASS on the record date.

For other corporate events such as voting, benefit entitlements with options, rights issue, open offer/preferential offer, takeover offer, warrant conversion, bond conversion and tender offer etc., HKSCC consolidates instructions from Participants and takes necessary actions on their behalf. HKSCC takes action for sub-divisions/consolidation as and when require, and also arranges to distribute copies of corporate communications of the issuers when Participants request.

HKSCC takes action to tender/redemption for Exchange Fund Notes, Specified Instruments or apply for Government Bonds, and/or CMU Instruments. It also provides subscription services for new shares under Electronic Initial Public Offering, for and on behalf of Participants through electronic instructions.

HKSCC accepts electronic application instructions for issue or redemption of Units and arranges payment of moneys due, and transfers of securities to be made, on issue or redemption of Units.

For China Connect Securities, HKSCC provides nominee services, such as voting, dividend, rights issue and takeover offer to Participants in respect of eligible China Connect Securities held by HKSCC on their behalf in HKSCC’s stock account maintained with the China Connect Clearing House in accordance with the rules and procedures of the China Connect Clearing House or the relevant rules and procedures of the China Connect Market and subject to the CCASS Rules and CCASS Operational Procedures.

Updated 30 Sep 2017

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