Greece: Update on dual listed securities II
Further to our announcement L15130, dated 6 August 2015, we have been advised by our depository Citibank Athens that effective
immediately
deliveries against and free of payment of dual listed securities from Greece to a foreign depository or custodian are permitted only where the transfer is for the purposes settling an on-exchange or OTC trade. Evidence of the linked on-exchange or OTC trade needs to be provided by means of an electronic copy of the respective trade. The deliveries will not be processed by Citibank Athens without such evidence.
Impact on customers
Customers wishing to deliver any dual listed securities detailed below, out from Greece, are advised to take the following actions:
- submit their settlement instructions to Clearstream Banking1 well in advance of the requested settlement date (settlement date cannot be in the past);
- at the time of sending their settlement instruction, submit via email to Clearstream Banking at the following address: gr.dual.listed@clearstream.com, a copy of the underlying on-exchange or OTC trade, including the details of the settlement instruction to deliver the dual listed securities out from Greece (securities account number in CBL, ISIN, amount of securities and trade reference).
- Clearstream Banking will submit the settlement instruction and the evidence upon receipt from the customer, to Citibank Athens.
Clearstream Banking will submit the settlement instruction and the evidence, upon receipt from the customer, to Citibank Athens.
Note: Considering the process explained in this announcement and the additional number of intermediaries in the settlement chain, Clearstream Banking cannot guarantee timely settlement of cross-border instructions. Customers are therefore strongly advised to send their cross-border settlement instructions as well as the related evidence to Clearstream Banking as early as possible prior to the requested settlement date.
Impacted dual listed securities include the following:
| ISIN | Name |
| BE0974271034 | VIOHALCO SA/NV |
| CH0198251305 | COCA-COLA HBC AG |
Further information
We will continue to monitor the situation.
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 AG, registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500, and 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.