IAWS/Aryzta - options for holding shares?

Any IAWS shareholders out there?

I have the documentation about the merger to form Aryzta and I haven't figured out what, if anything, I am supposed to do.

Anyone able to explain it?

Brendan

Re: IAWS and Aryzta

Brendan said:

Any IAWS shareholders out there?

I have the documentation about the merger to form Aryzta and I haven't figured out what, if anything, I am supposed to do.

Anyone able to explain it?

Brendan

Click to expand...

+1.

I think it's like Lisbon, you're supposed to vote yes or it will all go dreadfully wrong.
I couldn't figure out how much the Aryzta shares would be worth, they seem to be a bit coy about that.
I was afraid to ask here, I thought individual shares couldn't be discussed.

Re: IAWS and Aryzta

Hi Hoagy

The decision to merge has been taken.

I am not discussing how much the shares are worth.

Holding the aryzta shares in certificates is not possible. Capita are offering a Crest nominee service. I find Capita very bad to deal with and I want to know if there are other options.

I will just have to read through the documentation.

Brendan

Re: IAWS and Aryzta

There is an article in today,s Business Post.
It may be of some help in explaining, the process.
As i am not involved i did not read it too much, but you cannot have a share cert, and they will no longer be traded in London

Re: IAWS and Aryzta

OK, I have read the documents and this is what I understand.

You cannot hold shares directly in Aryzta which is a Swiss company(?).

If you return the form by 21 August , Capita IRG Trustees Ltd will act as nominee for you in relation to your "Depository Interests"

You retain your beneficial interest in the shares, and will receive the dividends, rights issues, right to attend the AGM etc.

There is no charge to you for this service. ( Maybe Aryzta pays them directly for this?)

Capita offers a share dealing service and so may sell the shares for you if you wish.

If you wish an alternative nominee service to hold the shares, e.g. Crest, then you may subsequently transfer these shares to an alternative Crest nominee account for a fee of €12.

You would need to do this prior to selling the shares through a broker.


If you do not return the form, a different company, Capita Trust Company Limited will hold your "Depository Interests" in trust for you. You may subsequently transfer the shares to the Nominee Service, to an alternative Crest nominee or into a “shareholding account with a depositary financial institution which is a participant in SIS” (not explained). It is not clear what holding the shares in trust means. There is no charge for it. Presumably they claim the dividends for you and accumulate them.

How safe is Capita?

I have no idea. There is no information provided on who they are or what their financial position is.

They are protected by the UK Financial Services Compensation Scheme. Most types of investors are covered for 100% of the first £30,000 and 90% of the next £20,000.

Brendan,

Further thoughts - if the underlying security is in Swiss francs how will the exchange rate difference be treated by the CDI?

CREST Depository Interest (CDI) These are securities that are created in CREST and that are specifically related to an underlying international security held within another CSD and credited to the account of Euroclear UK & Ireland. CDIs are issued under UK law but the underlying security is held under the law in the jurisdiction under which it is held.

we have 196 iaws shares (88 of the merged company I understand - worth approx €3K) purchased through sharewatch. my understanding is that these iaws shares were held in crest form by sharewatch ie i dont have a share cert for them.

From my reading of your v. informative posting; we need to contact Capita IRG Trustees Limited and have them transfer to the sharewatch crest account should we want to trade them or have the dividends paid out. is this correct?

I've been on to the iaws website plus the capita irg trustees site - can't see anything specifically about this issue but i could be wrong

You wont need to do anything to get the shs transferred into the crest account. On paydate, the registrar (in this case Capita) automatically credits the Crest account x amount of Aryzta, depending on the number of shs you hold. If i remember correctly, pay date was around the 23rd i think.. So your holding will already be in Crest with your name on it. You should be able to sell no problem.