Dematerialization Presentation at Capital Market Committee Meeting
Gain insight into the current status of full dematerialization in the capital market, as presented by Dr. Joe Mekiliuwa at the recent committee meeting. Details on new securities listed and the progress towards complete dematerialization are highlighted.
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Presentation Transcript
Status of Full Dematerialization Presentation to Capital Market Committee Meeting By Dr. Joe Mekiliuwa GM, IT & Operations Central Securities Clearing System Plc
Current Status Introduction Two new Securities listed in Q1 of this year 2017, Medview Airline Plc and Jaiz Bank Plc dematerialized. The full dematerialization of the capital market commenced in July 2015, initiated by SEC with the full support of other stakeholders and driven by the CSCS. have been fully We have successfully dematerialized 99.5%, translating to 190 securities as at April 2017. We associated reconciliation challenges due to the commitment of all the parties involved especially the Company Registrars. were able to overcome The issued share capital of the remaining 0.5% which represents one (1) security is being reconciled for dematerialization. 2
Registrars Performance On Full Demat as at Date S/N REGISTRAR NO. OF REGISTER (S) NO. NO. NO. READY TO BE UPLOADED NO. % of REASON FOR REJECTION TURNED IN UPLOADED REJECTED successful Upload 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 Africa Prudential Reg.Plc Cardinalstone Registrars EDC Registrars Ltd Mainstreet Registrars Ltd Meristem Registrars Ltd Veritas Registrars Ltd GTL Registrars Ltd Centurion Registrars Ltd Unity Registrars Ltd First Registrars Limited PACE Registrars Flour Mills Registrars Ltd United Securities Ltd Pac Registrars Ltd Apel Registrars Limited Lighthouse Securities Datamax Registrars Ltd Allcrown Registrars Ltd TOTAL 30 26 6 6 22 5 28 4 4 26 9 2 7 4 6 1 3 2 191 30 26 6 6 22 5 28 4 4 26 9 2 7 4 6 1 3 2 30 26 6 6 22 5 27 4 4 26 9 2 7 4 6 1 3 2 190 - - - - - - - - - - - - - - - - - - 1 - - - - - - - 100% 100% 100.% 100% 100% 100% 96% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% ISSUED SHARE CAP - - - - - - - - - *Total Registers = 191 *Percentage of successful upload = 99.5% *Total Registers Successfully Uploaded = 190 *Percentage of outstanding upload = 0.5% (J.berger) 3
