Australia's largest stock trading and investment forum Australia's #1 stock forum

AKE

0.00%

$9.83 allkem limited

Merger: Yes or No, page-386

First 386 Last

Share
Profile

Follow
akgo01

4,430 Posts.

615

25/11/23

01:03

Post #: 71100013
Share

Originally posted by Stephan90: ↑

I got a reply from Allkem IR and did some further research. Exchanging my Allkem shares would probably be no problem, although I am still not 100% sure wether I would immediately get Arcadium Lithium shares or CDIs with the option to exchange them for the shares.

However, I figured out that being able to vote might be become a real issue for me and other overseas shareholders. In the document(s) for my Allkem purchase(s) it says:

- ALLKEM LTD. (AU0000193666/A3C8Z7) shares.
- The depository is "Clearstream Luxemburg"
- The location of the depository is "Australia"
- The type of depository is "Wertpapierrechnung". (The literal translation would be "security invoice/bill/account" or something like that) I don't know the exact equivalent term for this in English but this is a Google translated explanation for the term "Wertpapierrechnung" from Wikipedia:

"the securities (which can be both securities and documents) are not the property of the beneficiary, but are held in trust by a foreign entity as custodian. It is used for securities located abroad for which collective safekeeping is not possible due to the lack of a CSD link, regardless of whether they come from domestic or foreign issuers. The domestic custodian banks are “intermediate custodians” because it is not they themselves who act as custodians, but rather the correspondent banks abroad. The beneficiary therefore only has a contractual claim to the delivery of foreign securities, not ownership of them."

SRN and HIN numbers are nowhere to be found.

I got a feeling that this could mean that I am not able to vote. Does anyone know more about this? One week ago I contacted "computershare" in Australia via their online form to find out wether they can help me to find my SRN/HIN number, which I would need to be able to vote. I didn't get a reply yet.

Expand

I think you have what is called CDI here. So you have no SRN nor HIN because you are not the registered owner of the shares you own. The registered owner in your case is Clearstream Luxemburg acting as a trustee or depositary nominee.

About voting right of CDI holders, this ASX guidelines say they are given the right to vote on a poll. So I think Clearstream Luxemburg should organise this poll.

chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://asxonline.com/content/dam/asxonline/public/documents/manuals/chess-asx-settlement-procedure-guidelines/asx_037029.pdf

AKE Price at posting: $8.46 Sentiment: None Disclosure: Held
Upvote

0 Great analysis

Reply

Top Stories

PAM

PAM secures high-grade Chilean copper play in strong territory

BIO

Biome unveils three year revenue target up to $85M – but are 3Y targets enough to excite?

IVZ

Invictus banks US$5M from Zimbabwean investment fund in support of Cabora Bassa

AZL

Brine and shine: Arizona Lithium wins early stage eco approval to commence wellpad #2 at Prairie

BOE

$550 million Jabiluka uranium offer comes unstuck as Government rules lease won't be renewed

There are more pages in this discussion • 680 more messages in this thread...

First 386 Last

Add AKE (ASX) to my watchlist

Merger: Yes or No, page-386

Top Stories

PAM secures high-grade Chilean copper play in strong territory

Biome unveils three year revenue target up to $85M – but are 3Y targets enough to excite?

Invictus banks US$5M from Zimbabwean investment fund in support of Cabora Bassa

Brine and shine: Arizona Lithium wins early stage eco approval to commence wellpad #2 at Prairie

$550 million Jabiluka uranium offer comes unstuck as Government rules lease won't be renewed

Featured News