Corporate Actions Service (Agents)

The Corporate Events Service (EVCO) offers technical resources and support to Agent Entities in the execution of corporate events, as well as advice on their planning. EVCO manages all types of events involving securities registered in IBERCLEAR (capital increases, takeover bids, SCRIP Dividends, swaps, etc.).

EVCO technically coordinates communications with participating entities, as well as with market infrastructures.

  

Contact us: evcoemisoras@grupobme.es

 Here are the different corporate events we manage:

INCREASES IN SHARE CAPITAL, SWAPS, FIXED INCOME SUBSCRIPTIONS, FIXED INCOME CONVERSIONS

Although each financial operation, including those of the same type, have totally different characteristics, the activities of the Extended Custody Services can be generalised along the following lines:

• Preparation of a budget to be approved by the Agent Entity and us, describing the type of control and processing carried out by Issuer Services for a given operation and the fee to be applied.
• Design of the rules to be followed by the entities involved in communicating the data of the transaction in question, establishing the communication deadlines, communication formats to be used, and the balances and certificates to be presented. These rules must be distributed to the member entities by the Agent Entity through the means made available to them by Iberclear.
• Receipt of the computer supports established in the rules. Matching of the operation in the terms established therein, resolving any incidents that may arise, returning to the entity the communications that do not exactly comply with the rules. Automated processing of the data, communicating the result of the operation to the Agent Entity and Iberclear for processing.
• Computer data processing, notifying the Broker Concern and the corresponding compensation and payment settlement service of the result of the operation.
• Preparation of the dissemination tables to be delivered to the CNMV.

TAKE-OVER BIDS AND PUBLIC SALE OF SECURITIES

• Collaboration in the publication of the corresponding corporate event and of the corresponding Circular regulating the procedure to be followed by all the entities involved, establishing the deadline and the way they must communicate the orders for the purchase or sale of securities.
• Coordination and reception of all the operations that will generate the orders that are directed to the financial operation in question and management of their processing, which may involve the execution of the pro-rata, if so, established in the terms and conditions of the operation. Subsequently, the publication of the transactions and/or settlement instructions to the Central Securities Depository is carried out.
• Issuance, in the case of IPO's and IPO's, of personalized documentation with the economic data of the transaction and the assigned registration reference.
• Notification to the CNMV (National Securities Market Commission) of the quantity of securities involved in the operation.
• Publication of the result in the Listing Bulletin in the case of IPOs.