Issuer Services (Shareholder Register Book)
The Accounting Register of Book-entry and the Shareholder Register Book service offer technical support for keeping the book-entry record of unlisted securities as well as the register book of shareholders, both of securities admitted to trading on a regulated market or multilateral trading system, and unlisted securities with the book entry record in Iberclear.
The shareholder registration services are as follows:
Contact us: lraemisorasbme@grupobme.es / +34 91 709 53 43 / +34 93 401 35 53
Shareholder Register Book (LRA)
The Shareholder Register Book (LRA) has the purpose of registering the daily movements of the balance of the shareholders of the companies derived from the transactions settled, thus offering the possibility of knowing in detail the information that identifies the shareholders of the companies. Through a simple technical connection, company managers can consult individual shareholder information, current balance, and historical movements, as well as aggregated information by nationality, percentage of capital, etc.
Article 497 of the restated text of the Capital Companies Law recognizes the issuer's right to know the identity of the shareholders regardless of whether their shares must be nominative by legal provision or not. The issuer may request the treatment of its shares "as nominative" to identify its shareholders. This allows companies with bearer securities to have an LRA that offers the daily detail of said shareholders and their movements.
CHARACTERISTICS OF THE SERVICE TO SHAREHOLDER'S REGISTER BOOK
Access to information in real time:
Both the Issuing Company and the designated Management Company have a connection that provides them with instant information on the shareholders' record.
Complementary reports:
In addition to the real-time information indicated previously, multiple complementary reports are provided with information related to the shareholders’ record (list of shareholders at a date, details of a registration, movements in a period, etc.).
Registration of transfers:
The transactions reported by each of the transaction settlement services are automatically registered on the next business day from the date of the information reception.
Exhaustive detail of each annotation:
Identification of shareholders’ data: address, description of the registered transmission, special conditions of the securities, etc.
Information guarantee:
The communication of the information by the securities settlement services and the updating in the register system is done by computing means without any manual intervention, which guarantees the exact registration of the communicated transmissions.
ADVANTAGES
- Existence of significant economies of scale due to the high number of issuing companies that use this registry, and therefore, the application of very low fees for its use.
- Significant savings in operating costs and connection with settlement services.
- Availability of exact, current and historical information on the holders of the securities.
- Automatic updates in the communicated transmissions’ registry.
- Restricted access to the information.
- Information maintenance for the necessary time with the strictest security and confidentiality.
Accounting Register of Book-entry (RAC)
The Accounting Register of Book-entry (RAC) service offers the Issuing Company, or the Management Company designated by it the possibility of registering all the transactions that take place to know in detail the information that identifies the shareholders of the company. Through a simple technical connection, company managers can consult individual shareholder’s information, current balances, and historical movements on their own terminals, as well as aggregated information by nationality and capital percentage, among others.
CHARACTERISTICS OF THE SERVICE TO ACCOUNTING REGISTER OF BOOK-ENTRY
Access to information in real time:
Both the issuing company and the entity in charge of keeping the accounting record have a connection that provides them with instant information on the accounting record.
Complementary reports:
In addition to the real-time information indicated previously, multiple complementary reports are provided with information related to the registry (list of shareholders on a date, details of a registration, movements in a period, etc.)
Immediate registration of the transmissions:
Reported transactions are recorded at the time of their entry.
Comprehensive detail of each entry:
Identification holders’ data: address, description of the registered transfer, special conditions of the securities, etc.
Control of corporate actions:
Issuance of position certificates for the exercise of economic and political rights.
ADVANTAGES
- Availability of exact, current, and historical information on the holders of securities.
- Disappearance of physical titles with consequent cost reductions.
- Technical and legal security in the accreditation of the entitlement.
- Restricted access to the information.
- Agility in the registration of transmissions.
- An essential requirement for a subsequent IPO is resolved.
