Origin Enterprises Plc Migration of Participating Securities (7659R)
March 10 2021 - 1:00AM
UK Regulatory
TIDMOGN
RNS Number : 7659R
Origin Enterprises Plc
10 March 2021
Update on Migration of uncertificated Shares from CREST to the
Euroclear Bank system
10 March 2021
Origin Enterprises plc ("Origin" or the "Company") confirms that
it has taken all steps required to be taken by it in connection
with the proposed migration of the electronic holding and
settlement of its shares from the CREST system to the Euroclear
Bank system ("Migration").
Migration is expected to take effect on Monday, 15 March 2021,
with the migration to Euroclear Bank of the holding and settlement
of the securities of all Irish companies with securities that are
listed and traded in Dublin and/or London.
Migration
As previously announced, at the extraordinary general meeting of
the Company held on 28 January 2021 (the "EGM"), shareholders
approved the Migration and authorised the Board to take all steps
necessary to implement it.
In accordance with the terms of those authorities and the
Migration of Participating Securities Act 2019, the Company has
consented to the Migration and has made the requisite notifications
to the Irish Companies Registration Office and Euronext Dublin.
Accordingly, all steps required to be taken by the Company to give
effect to Migration have now been completed.
Timetable for Migration
Euronext Dublin announced on 8 March 2021 that Market Migration
remains scheduled to occur over the weekend of 12-15 March 2021 in
line with the indicative timetable that was included in the
Company's circular to Shareholders dated 21 December 2020 in
relation to the EGM (the "EGM Circular"). Euronext Dublin has
advised that the 'live date' on which Migration is to take effect
is 15 March 2021. This timetable remains subject to change by
decision of Euronext Dublin.
Euronext Dublin maintains a dedicated web page relating to
Market Migration (on which details of the timetable and other
relevant details can be found) at the following link:
https://www.euronext.com/en/migration-csd-services-for-irish-securities-crest-euroclear-bank
.
Actions to be taken by Origin shareholders
For Origin 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 Origin 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. Specifically:
-- 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 System) as a
Belgian Law Right in the Euroclear System. Where such shareholders
wish to hold in the Euroclear 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, Origin shareholders holding
their Shares in CREST are strongly encouraged to consult with their
stockbroker or other intermediary at the earliest opportunity.
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. 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 their rights as an Origin shareholder in the
context of the new Euroclear System.
Note
Unless the context otherwise requires, defined terms used in
this announcement have the meanings given to them in Part 9 of the
EGM Circular.
ENDS
Enquiries:
Barbara Keane +353 1 563 4900
Company Secretary
Origin Enterprises plc
About Origin Enterprises plc
Origin Enterprises plc is a focused Agri-Services group
providing specialist on-farm agronomy services, digital
agricultural services and the supply of crop technologies and
inputs. The Group has leading market positions in Ireland, the
United Kingdom, Belgium, Brazil, Poland, Romania and Ukraine.
Origin is listed on the Euronext Growth (Dublin) and AIM markets of
the Irish and London Stock Exchanges.
Euronext Growth (Dublin) ticker symbol: OIZ
AIM ticker symbol: OGN
Website: www.originenterprises.com
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