UniCredit Bank Czech Republic and Slovakia,a.s.
Summary:
The law that regulates anonymous shares has been passed.
Tue, 21/05/2013
The law regulating anonymous shares has been fully passed, therefore all anonymous shares now issued by companies will have to be registered and booked in the central depository or stored in physical form at custodian banks (i.e. immobilised). If issuers do not accommodate the mentioned changes by January 2014, then the physical shares will have to be registered by endorsement to the new owner’s name, otherwise the shareholder cannot exercise their shareholder rights.
Related Newsflash:
Newsletter Czech Republic 2013 – Draft Law Regulating Anonymous Shares Passed in the Lower House
Impact on investors: The newly passed regulation should bring more transparency to the Czech market.