Ref. No. НРД-И-2024-3460 dated 27 March2023
To NSD's clients
The decision of NSD's Executive Board dated 21 March 2024 (Minutes No.13) introduced marketing periods from 1 March 2024 through 31 December 2024, which imply:
1. free services related to the participation of a person exercising rights on securities in corporate actions, in accordance with clauses 5.2-5.5 of NSD Fees for Depository Services, provided that the following conditions are simultaneously met:
- trades in securities are executed with non-resident investors who will be entitled to sell the securities of Russian issuers as part of an offer to purchase them by a resident issuer;
- trades in securities have been authorised by the Government Commission on Monitoring Foreign Investments in the Russian Federation issued for the purpose of implementing additional temporary measures of economic nature to ensure financial stability of the Russian Federation and other authorisations provided for by certain decrees of the President of the Russian Federation (the "authorisation of the Government Commission"),
- and (or) by virtue of a dedicated decision of the President of the Russian Federation issued in accordance with the decrees of the President of the Russian Federation (the "dedicated decision of the President of the Russian Federation");
- the client provides NSD, not later than the last business day of the reporting month, with a list of corporate action instructions ("CA") falling within the marketing period, where the following information must be indicated:
- the number and date of the CA instruction,
- CA Reference,
- date of the permission of the Government Commission and/or the date of the dedicated decision of the President of the Russian Federation
The marketing period shall apply provided that the transactions conducted under this clause comply with the requirements of the legislation of the Russian Federation, regulations of the Bank of Russia and decisions of the Board of Directors of the Bank of Russia, and official explanations of the Bank of Russia.
2. Free transfer of securities of Russian and/or foreign issuers involving the transfer of ownership, arising from trades between a resident and a non-resident (clauses 4.1. and/or 15.1 of NSD Fees for Depository Services), provided that the following conditions are met:
- this is the transfer of securities of Russian and (or) foreign issuers arising from trades authorised by the Government Commission and/or on the basis of the dedicated decision of the President of the Russian Federation.
- this is the transfer of securities under counter instructions of the Sending Client (or the securities account/sub-account operator) and the Receiving Client (or the securities account/sub-account operator) without cash settlement (Transaction Code 16 and 16/1), (including for type "C" securities account transactions), provided that the authorisation of the Government Commission is in place and/or the dedicated decision of the President of the Russian Federation is involved, and the following wording is added in the Additional Information field of the instruction: "Transfer based on the authorisation of the Government Commission dated (date)" and "Transfer based on the dedicated decision of the President of the Russian Federation dated (date)".
and/or
- securities are transferred within one securities account at the direction of the client (Transaction Code 20) with the following wording specified in the "Additional Information" field in the instruction: "Transfer based on the authorisation of the Government Commission dated (date)" and "Transfer based on the dedicated decision of the President of the Russian Federation dated (date)".
The marketing period shall apply (including to type "C" securities accounts) provided that transactions conducted in accordance with this clause, comply with legal requirements, including regulations of the Bank of Russia and decisions of the Board of Directors of the Bank of Russia, and official explanations of the Bank of Russia.
If you have any enquiries regarding this notice, please contact your account managers at NSD by phone at +7 495 956-27-90, +7 495 956-27-91