TIDMFBH
RNS Number : 0154S
FBD Holdings PLC
11 March 2021
FBD Holdings plc
11 March 2021
Migration of Participating Securities expected to take effect on
15 March 2021
F.B.D. Holdings plc (the "Company") provides the following
update in relation to the proposed migration of its Ordinary
Shares, as part of the scheduled migration of Irish corporate
securities, from CREST to Euroclear Bank ("Migration") under the
Migration of Participating Securities Act 2019 ("2019 Act").
Euronext Dublin has published a statement relating to its
obligations under the 2019 Act. This statement can be
found at the following link: https://www.euronext.com/en/media/4354
This statement is to the effect that Migration under the 2019
Act is scheduled to proceed in accordance with the indicative
timetable, which was previously communicated to the market, most
recently on 17 February 2021. In particular Euronext Dublin has
advised that the Live Date on which Migration is to take effect is
15 March 2021 and further that this date will be formally appointed
by Euronext Dublin as the Live Date for Migration on 12 March
2021.
Accordingly, no change is anticipated in relation to the
timetable set out in the Company's EGM Circular in respect of
Migration.
Actions to be taken by Shareholders
For Shareholders who hold their shares in paper form (i.e.
outside of CREST and in "certificated" form) there will be no
change to what is owned and how it is held. Therefore, the impact
of Migration on such Shareholders is expected to be minimal and no
immediate action is required.
For Shareholders who hold their shares through CREST (in
uncertificated form), Migration will result in changes to what is
technically owned, how the interest is held, and how rights related
to the shares will be exercised. Details of those changes are set
out in the EGM Circular. In relation to the mechanism for holding
interests in particular:
-- Retail shareholders who hold their shares electronically in
CREST - through a broker, custodian or nominee - will continue to
hold their interest through that broker, custodian or nominee, as a
CREST Depository Interest or (assuming the broker, custodian or
nominee is or becomes a participant in the Euroclear System in the
way they are in CREST) as a Belgian Law Right in the Euroclear
System.
-- Institutional shareholders who hold their Shares
electronically in CREST directly in their own name (i.e. as a CREST
member), will continue to be able to hold their interests in shares
directly in their own name as a CREST Depository Interest or
(provided they become a participant in the Euroclear Bank system)
as a Belgian Law Right in the Euroclear Bank system. Where such
shareholders wish to hold in the Euroclear Bank system but are not
or do not become a Euroclear Bank Participant, they will need to
enter into an arrangement with a broker, custodian or nominee who
is a participant, so that they can hold the relevant interest for
them.
If they have not done so already, Company Shareholders holding
their shares in CREST are strongly encouraged to consult with their
stockbroker or other intermediary without delay. Migration will
result in a significant change in both the form and nature of
shareholding in the Company, and the substance of, and manner in
which, rights can be exercised.
In particular, Migration will result in important changes to the
processes and timelines for submitting proxy voting instructions
for the Company's next annual general meeting. Shareholders should
familiarise themselves with the new processes and timelines, and
ensure all necessary actions have been taken on their part and by
their stockbroker or other intermediary, to ensure they can
continue to enjoy exercising their voting and proxy appointment
rights in the context of the new Euroclear System.
The Company does not intend to issue any further updates on
Migration as it affects the Company before Migration, save to the
extent that there is a material change to the information
previously provided.
Defined terms used in this announcement have the same meaning as
set out in the Company's EGM Circular dated 18 January 2021.
Shareholders are also referred to the Migration Guide (Version 3
January 2021) for further details in relation to the operation of
Migration.
Enquiries
For Reference Telephone
FBD Holdings plc
Derek Hall, Company Secretary +353 86 172 4059
About FBD Holdings plc
FBD is one of Ireland's largest property and casualty insurers,
looking after the insurance needs of farmers, consumers and
business owners. Established in the 1960s by farmers for farmers,
FBD has built on those roots in agriculture to become a leading
general insurer serving the needs of its direct agricultural, small
business and consumer customers throughout Ireland. It has a
network of 34 branches nationwide.
The following details relate to FBD's ordinary shares of EUR0.60
each which are publicly traded:
Listing Euronext Dublin UK Listing Authority
Listing Category Premium Premium (Equity)
Trading Venue Euronext Dublin London Stock Exchange
Market Main Securities Market Main Market
ISIN IE0003290289 IE0003290289
Ticker FBD.I or EG7.IR FBH.L
FBD Holdings plc, FBD House, Bluebell, Dublin 12
Registered in Dublin, Ireland Registered Number 135882
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