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Notification no. 381759 / 18.07.2018
Dear Madam / Dear Sir,
Please find below important information that we invite you to find the availability to read.
Pursuant to the expiry of the term of denunciation, your investment services agreement, through which Raiffeisen Bank S.A. (hereinafter referred to as the Bank) offered brokerage services to your company, was terminated, in accordance with the previous notification.
Because at the date of receiving the present notification you still hold financial instruments at Raiffeisen Bank S.A. for which Depozitarul Central S.A. is not a designated depository of the issuer and which were subject to the terminated agreement (hereinafter referred to as External Financial Instruments), we kindly remind your company to proceed, as soon as possible, to the transfer of those instruments to an intermediary. Until the transfer is operated, the Bank shall keep your External Financial Instruments within the Bank’s records, and, on the transfer date, shall issue the portfolio extract needed for the registration of the External Financial Instruments in the registers of the new intermediary.
If your company also held financial instruments traded on the local market (BVB) and for which Depozitarul Central S.A. is a designated depository of the issuer and you did not request the transfer of the respective instruments to another intermediary or to the Depozitarul Central (Section 1 of the Registrar), we remind you that the Bank transferred the above mentioned instruments to Depozitarul Central (Section 1 of the Registrar), in accordance with the previous notification and sent you the related portfolio extract by e-mail.
We would like to inform you that between the termination date of the investment services agreement and the date of receiving your transfer instruction, in the absence of a contractual agreement between your company and Raiffeisen Bank S.A., the Bank is compelled to act in view of keeping the financial instruments in its own registry, on the grounds of the general provisions of the Civil Code, according to article 1,330 and the followings.
Such keeping of the financial instruments on the grounds of the general Civil Code rules and outside of a contract mutually agreed, shall have the following important consequences for your company:
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The Bank shall not be able to receive, transmit and execute sell orders regarding the External Financial Instruments;
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In the absence of an agreement concluded with an intermediary for the safekeeping of the External Financial Instruments, you will not have access to corporate events information related to issuer or the External Financial Instruments;
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The Bank shall not be able to send instructions in your company name regarding the corporate events or related to the External Financial Instruments you own;
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The Bank shall not be able to take any measure in order to collect from the issuer the amounts owed towards you as shareholder or owner of bonds or of other financial instruments. However, provided that the Bank receives the respective monetary benefits from the issuer via the chain of custodians, the Bank shall credit your current account with the financial benefits related to the External Financial Instruments, applying, as the case may be, its related tariffs and commissions and the standard exchange rate;
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The Bank shall not be able to ensure the applicability of the most favourable provision regarding the fiscal taxation of the financial benefits you are entitled to in relation to the these financial instruments;
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The Bank shall not issue reports regarding External Financial Instruments booked in your company account or regarding your income cashed in as shareholder or as owner of bonds or of other financial instruments except for the portfolio excerpt needed for the transfer to an intermediary, not being responsible for any direct or indirect loss or prejudice that you may suffer as a consequence of your lack of action regarding the transfer of the External Financial Instruments to intermediary, including for the non-exercising or the late exercising of the related rights and options;
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In the absence of a contractual agreement with your company, regarding the External Financial Instruments and in relation with the limitation of the investment activities, the Bank will instruct any third party to discontinue the payment of any eventual inducement related to the owing of External Financial Instruments.
Following the activity carried out in relation to the External Financial Instruments, after the termination of the investment services agreement, according to the above mentioned, the Bank
shall be entitled to the reimbursement, by your company, of all the costs generated by the nonfulfillment of the External Financial Instruments transfer, until the termination date of
the agreement, respectively the costs registered with the keeping of the External Financial Instruments in the Bank's registrars and on the custody chain, relating to your further notification and any other costs.
For the reimbursement of those costs, the Bank will provide your company with a VAT bearing invoice. The reimbursement of the costs incurred by the Bank shall be made from the amounts evidenced in any current accounts, the Bank being able to debit the current account denominated in any currency even if an overdraft is being registered on that account on the grounds of the applicable General Banking Business Terms accepted by your company. The reimbursement of the costs borne by the Bank will be made before the processing by the Bank of the instructions to transfer the External Financial Instruments to another intermediary or, as the case may be, in a 15 days term from the end of each calendar year in which the respective costs were registered by the Bank, while the invoice, its value and the term for which these amounts shall be withheld shall be communicated through the means agreed within the General Banking Business Terms.
The Bank agrees to grant a grace period for the payment of these costs until August 31, 2018, while kindly requesting you to instruct as soon as possible the transfer of the External Financial Instruments to another intermediary.
The list of the authorised intermediaries by the Financial Supervisory Authority may be found on the following website: https://asfromania.ro/supraveghere/registre-electronice/registrul-instrumentelor-si-investitiilor-financiare.
In case that for any reason the notification for the termination of the investment services agreement previously sent by the Bank is invalidated or cannot produce its effects, the present notification represents the notification for the termination of the investment services agreement between you and the Bank.
The present notification is drafted in Romanian and English language, and in case of discrepancies, the Romanian version shall prevail.
For further questions or information, please contact us at back-office.rci@raiffeisen.ro, *2000 - Call Center Service or +4 021 306 3002, regular fee number, from any network, or in any Raiffeisen Bank unit.
Respectfully yours,
Raiffeisen Bank S.A. through
Sorin Sabau
Manager, Treasury and Capital Markets Back Office
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