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| ISUP |
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A process of setting up an information system for managing share portfolios - ISUP began in 1997 after the adoption of the Ownership Transformation Act and is still in existence. With the adoption of the Securities Market Act, ISUP has improved and upgraded requisite procedures for communication with the Central Register. Since the act stipulates that shareholders registers in companies are to be transferred to the Central Register, all companies which use ISUP to maintain their register of shareholders have been or will be automatically in compliance with the Central Register within the period prescribed by law.
In addition to this, the obligation (under the Accounting Act) and the requisite of joint stock Company’s management to continue managing full records on their shareholders and constant compliance with the Central Register. |
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| ISUP manages data on: |
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shareholder's personal identification data, |
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issues, showing designation of issue and series, ISIN and CFI code, number of shares and nominal value, |
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changes in the ownership of shares with a history (secondary market, inheritance/succession gift), |
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the ownership status of each shareholder according to each issue and the basis of acquisition of shares, with the possibility of issuing statements as of any date, |
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all issued and cancelled share certificates with evidence of issuance/cancellation (until dematerialization), |
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share certificates deposited for safekeeping with a company (share certificate vault), |
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any given/received proxies for voting at the company’s Shareholder Assembly, creating a proxy statement and other proxy documents, |
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distribution/reinvestment of profit stating amounts/number of shares (and the gross and net value of dividend), |
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installments, payments, revaluated obligations until the payment deadline for issuers conducting the second round of privatization, |
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amount of revaluation of capital, both total capital and per shareholder, |
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using ISUP, showing the history of all changes by users. |
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In addition to basic record keeping, ISUP enables the conduction of procedures, foreseen for generally managing the shareholders register and share portfolio.
These procedures include operations and changes in conjunction with: |
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share capital increase, |
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revaluation, |
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profit reinvestment, |
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settlement and apportionment of dividends, |
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organization of convening Shareholder Assemblies, |
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turnover organization in the secondary market. |
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After completed trading on the Exchange, ISUP enables the simultaneous uploading of the Register of shareholders in joint stock companies and in the Central Register of shares, in addition to the procedures necessary to destroy certificates of shares ownership for the seller, and the generating of new certificates for the buyer of shares (until dematerialization).
All quoted changes are automatically registered in the representative’s Register and in the shareholders General Assembly. |
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Due to the requests of a large number of our clients - companies and their shareholders, ISUP has 120 standardized reports. Many of these reports will directly respond to the requests of the Company’s management, but it is also possible to create customized reports. In addition, ISUP is installed in over 40 companies and each have specific needs to generate reports and new records, every other company is in a position to use all solutions that are products of such requirements.
Reports can be classified into these following groups: |
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shares turnover summary per shareholder, issues or basis for the acquisition of shares (previous acts, the first round and the second round of ownership transformation, tender, auction, share capital increase), |
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shareholders position through each issue of shares and the basis of acquisition of shares at any day in the year, |
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shareholders Register presenting nominal/book value of capital per shareholder, |
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turnover summary, shares ownership per issue and effectiveness of the issue (with share capital increase), |
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structure of capital from various sources showing percentage of votes, shares and/or capital, |
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summaries of issued or cancelled certificates showing dates, grounds and basis for issuance/cancellation, |
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proxy summaries in the shareholder’s General Assembly showing number of votes and their percentage of participation in the total number of votes as well as the complete analysis on issuers authorization at every General Assembly held, |
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summaries and payment notice for shares in the second round of privatization showing an analysis and synthesis required for posting (entries) in the accounts of a company, |
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various certificates, notices, directories, list showing various shareholder classifications (external shareholders, employees, pensioners, legal and natural persons). |
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Besides maximum compatibility with the Central Register, one of the main features of ISUP is that once information is entered into ISUP it can be transferred to any other information system used in shares trading.
Due to different interpretation and ill-defined regulations, a number of companies still keep their register of shares by manually entering information about their shareholders and their holdings of shares in the books bought for these purposes. Our market also offers software programs, which are only capable of keeping records of shareholders but are unable to follow trading in shares on the Stock Exchange in an appropriate way and cannot comply with the Central Register. For these particular reasons, the experts of Center are giving presentations on ISUP to interested companies in order to familiarize them with the capabilities of the system and solutions the system has to offer. |
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