U.S.A.: Entitlement Proceeds for DTC Registered Securities with CAD Payment Option - Update
Note: This announcement originally published on 14 July 2016 has been updated to add an additional security to the list of securities that must be repatriated. Changes have been highlighted.
Clearstream Banking1 would like to inform customers that, effective
immediately
in order to receive corporate action entitlement proceeds in Canadian dollars (CAD), the shares listed below that are deposited with Citibank N.A. must be transferred to Clearstream Banking’s depository in Canada, RBC I&TS, via a cross-border transfer2 as per following deadlines:
- two days prior to record date for FAST3 eligible securities;
- five days prior to record date for non-FAST eligible securities.
In addition, the following restrictions for northbound flip on concerned securities should be noted as follows:
- for FAST eligible securities, from one day prior to record date until the close of business on record date;
- for non-FAST eligible securities, restrictions will be placed from four days prior to record date to close of business on record date.
If any of the monitored securities cannot be repatriated as outlined above, customers will receive their proceeds in U.S. dollars (USD), the currency provided by DTC.
In order for customers to receive funds in CAD, the following list of securities must be repatriated from Citibank N.A. to RBC I&TS. This list is subject to change and any change will be communicated in due time to Clearstream Banking customers.
| Security Name | CUSIP/ISIN | FAST eligible |
| AGRIUM INC COM | CA0089161081 | Y |
| BROOKFIELD ASSET MGMT INC CL A | CA1125851040 | Y |
| BROOKFIELD PPTY PART LP UN | BMG162491077 | Y |
| CALEDONIA MINING CORP PLC SHARES | JE00BD35H902 | Y |
| CENOVUS ENERGY INC COM | CA15135U1093 | Y |
| ENCANA CORP COM | CA2925051047 | Y |
FRANCO-NEVADA CORP COM | CA3518581051 | Y |
| GILDAN ACTIVEWEAR COM | CA3759161035 | Y |
| GRANITE REIT STAPLED UNIT | CA3874371147 | Y |
| INTERTAPE POLYMER GRP COM | CA4609191032 | Y |
| OPEN TEXT CORP COMMON | CA6837151068 | Y |
| POTASH CORP OF SASK INC COM | CA73755L1076 | Y |
| WASTE CONNECTIONS INC COM | CA94106B1013 | Y |
| YAMANA GOLD INC COM | CA98462Y1007 | Y |
| ALACER GOLD CORP RR | CA0106791084 | N |
| METALORE RES LTD COM | CA5913071034 | N |
Background
The changes above follow a change in procedure announced by the Canadian Depository for Securities (CDS) regarding the securities monitored for repatriation activities that are related to entitlement purposes. We will inform customers of any further developments.
Further information
For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.
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1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG (for CBF customers using CreationOnline), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.
2. For instruction specifications, please refer to Clearstream Banking’s Multi-Market Securities Guide.
3. The Fast Automated Securities Transfer Program (FAST) is a contract between DTC and transfer agents that eliminates the movement of physical securities by allowing agents to act as custodians for DTC.